Retirement: Procedures- Retirement

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Retirement

	Retirement

Procedures- Retirement

Employers must complete the following procedures when an OPTrust member terminates employment and retires with an immediate pension from the OPSEU Pension Plan.


			Important! Employers should forward all necessary documentation to OPTrust three months before the member’s planned retirement date.

1. Complete the Termination of Membership –Application For Entitlement (OPTrust1012)

This form does not require the member’s signature but does require an authorized employer’s signature.

Note: if the member is a divested member retiring from the successor employer, the successor employer only needs to send OPTrust a letter confirming the date of termination.


			Important! Termination while on LTIP: When a member is terminating his or her plan membership while on LTIP, the employer should state “Member on LTIP” in the final salary section of OPTrust's Termination of Membership (OPTrust 1012) form, rather than entering a salary amount. The collective agreement salary for the position may be different from the final salary on LTIP.

2. Complete additional forms and provide required documentation

OPTrust also requires the following forms and documents for retiring members. This information may be submitted to OPTrust at the same time as the Termination of Membership form or at a later date.

Employers should request that members provide this information to OPTrust. If the member does not submit the required forms and documents, a delay in processing the member’s pension may occur as OPTrust will be required to follow-up with the member.

The required documents, where applicable include:

A birth certificate or other proof of birth – if not already on file
The spouse’s birth certificate or other proof of birth – if not already on file

Proof of birth for all eligible children – if not already on file


			Note! Approved proof of birth include: birth certificate adoption papers Canadian passport Canadian Registration of birth Baptismal certificate/papers Indian status card Canadian Citizenship papers Canadian Permanent Resident Card

A completed Statement of Spousal Relationship (OPTrust 3007) form – This form must be completed at termination/retirement, even if a previous copy is already on file with OPTrust.
A marriage certificate – if not already on file

or

Three documents showing that the member has a common-law spouse with whom he or she has been living for a minimum of three years – if not already on file. See OPTrust’s Spousal Relationship Information Sheet for details.
A completed Identifying Benefit Recipients (Retirement) (OPTrust 1015R) form (Optional) – Members can also complete this form online through OPTrust’s secure Online Services
TD1 (Federal), and TD1 (Provincial)
Void cheque for direct deposit of pension payments
Group Insurance Application or Change Form

Revised November 26, 2004


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To assist you with the termination process, please see the Employer Checklist for Retirement (OPTrust 1072).