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 The basic annual pension amount paid to OPTrust members who retire with an
unreduced pension is calculated using the following formula:
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2% |
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Best 60 consecutive months average salary rate |
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Years of credit in the Plan |
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CPP integration (a reduction at age 65) |
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At age 65, the member’s OPTrust pension is reduced for CPP integration. This
reflects the lower contributions members pay to the OPSEU Pension Plan on the
portion of their salary for which they also contribute to the Canada Pension
Plan (CPP). The reduction for CPP integration is calculated as follows:
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0.655% |
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the lesser of:
- the member’s best 60 consecutive months salary rate and
- the member’s final five-year average Year’s Maximum
Pensionable Earnings (YMPE)
under the CPP
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the member’s years of credit after 1965 (to a maximum of 35 years) |
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The reduction for CPP integration takes effect in the month after the member
turns 65, regardless of when the member chooses to begin receiving pension
benefits from CPP. Additional information on CPP Integration at Age 65
is provided later in this section.
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Note!
The employer should not provide pension estimates or early
retirement dates to the member. For this service either direct the member to the
OPTrust directly or to the
calculator
located in the member section of the OPTrust website at www.optrust.com.
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Revised August 2009
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