Members whose pension is vested at termination have earned the right to an
unreduced OPTrust pension when they reach age 65. Terminating members may also
qualify for an immediate pension before age 65 under one of the Plan’s unreduced
early retirement options.
Vested members who are not yet eligible for an immediate pension may have a
range of pension options available, depending on their age and individual
Possible Pension Options
For terminating members who are under age 55, these options may include the
choosing a deferred pension. In this case the
member leaves his or her pension entitlement with OPTrust and retains the right
to collect a pension in the future.
the employee moves from a position that contributes to the OPSEU Pension Plan
to a non-OPSEU bargaining unit or excluded position, with no break in
the employee becomes a member of the Public Service Pension Plan (PSPP).
In these cases, a transfer of the employee’s pension credit from OPTrust to the
PSPP is mandatory. See Transfers to the PSPP for more information.
Important! Insured Benefits Coverage
Members who choose a deferred pension and have at least 10 years of credit or 10
years of continuous employment with some credit in each of those years may be
eligible for insured benefits coverage when their pension starts. This insured
benefits coverage – which includes supplementary health, dental and life
insurance – is provided by the Government of Ontario. Members who transfer their
pension out of the Plan are not eligible for this coverage.