|
|
 |
At or following termination, members may have the option of transferring the
“commuted value” of their deferred pension entitlement from OPTrust to a
locked-in retirement savings arrangement.
The commuted value of the member’s OPTrust pension is defined as the amount of
an immediate lump-sum payment in today’s dollars that is estimated to be equal
in value to the member’s future lifetime pension payable from the Plan.
To be eligible for a commuted value transfer, the member must
- be vested
- be under age 55, and
- not be entitled to an early unreduced pension from OPTrust (i.e. Factor 90 or
60/20).
|
|
|
|
|
|
|
|
|
|
 Important! Insured Benefits Coverage
Members who choose a commuted value transfer are not eligible for
post-retirement insured benefits coverage provided separately by the Government
of Ontario. The cost of these benefits is not included in the commuted value
amount.
|
|
|
|
|
|
|
|
|
|
|
Revised November 26, 2004
|
 |
|
