• If you are under age 65 at termination, your refund will equal your own pension contributions, plus interest
• If you are age 65 or older, your refund will equal two times your own contributions, plus interest.

You are not entitled to a refund of the contributions made by your employer.

Refund options
If you are not vested when your plan membership ends, you will have two options for how your contribution refund is paid:

• You can receive a cash refund. In this case, OPTrust is required to withhold income tax. Depending on your circumstances, you may have to pay additional tax when you file your annual income tax return.
• You can transfer your refund directly into a tax-sheltered retirement arrangement, such as an RRSP. If you take this option, no income tax will be deducted from your payment.

You can indicate your choice directly on your Termination of Membership form, in which case you must be sure to sign the form. Alternately, you can make your decision after OPTrust sends you your Termination Statement indicating the amount of your refund.