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OPTrust must be informed of Plan termination from the successor employer. When a
member terminates from the successor employer the OPTrust requires a letter from
the employer stating the following:
- Employment/plan termination date
- Member Name
- SIN
- Current Member Address
- Period of Employment
- Employer contact information
If the member terminates employment and plan membership with the new employer
before retirement, and is under age 55, they may be eligible to elect a deferred
pension or transfer the value of their OPTrust pension to a locked-in retirement
savings arrangement or to another registered pension plan. For more information
on termination options, please see the Termination section.
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Note: OPTrust cannot determine what pension options are available
with the member’s new employer. The member will need to contact their new
employer or plan administrator directly.
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Important! Medical Benefits If the member qualifies for
medical benefits based on their credit or service at the time of divestment,
they will be eligible for medical coverage offered separately by the Ontario
government when they start to collect their pension from OPTrust. Credit or
service with the successor employer is not recognized for medical benefit
eligibility.
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Revised August 2009
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