 |
If you are considering a disability pension
To qualify for a disability pension you must be totally and permanently physically and/or mentally disabled. In order to receive the disability pension you must apply to OPTrust, satisfy the above criteria and resign from your employment. The medical evidence must be satisfactory to OPTrust. The amount of your disability pension will depend on your total
credit in the Plan and your best five-year average salary:
- If you have less than 10 years of credit and membership you do not qualify for a disability pension. You may receive a special disability refund under the Plan, plus interest.
- If you have at least 10 years of credit or continuous membership your disability pension is calculated using the
basic pension formula. Adjustments for inflation will be taken into consideration to calculate your salary for the period during which you were receiving or eligible to receive LTIP. Your pension benefit is based on and your credit in the Plan up to the date of your resignation.
Example:
Suppose you were approved for a disability pension from the OPSEU Pension Trust. Your highest consecutive five-year average salary was $46,900 and you resigned at the end of 2004 with 19 years of credit. Your disability pension would be calculated as follows:
| 2% x $46,900 x 19 years |
= |
$17,822 |
| Annual disability pension |
= |
$17,822 |
As usual, we integrate your OPTrust pension with CPP at age 65.
|
|
