• Satisfaction Survey: An Update on How We're Doing
• Ensuring Your Privacy
• 500 Divested Employees Stay with OPTrust
• New Booklet on Divestments
• Nortel Networks Class Action Lawsuit
• Facts About... Changes to Your Pension Contributions
• Is Your Beneficiary Information Up to Date?
• When Is Your Spouse "Eligible"?
• New Plan Booklet Available
• OPSEU Names New Trustee
• You Asked... Same Sex Spouses, Proof of Spousal Relationship, Buybacks and Divestments

Printer Friendly Version: PDF (252KB)

Providing members and pensioners with prompt, friendly and efficient service is a key part of our mandate. In 2001, OPTrust launched a new initiative to survey our members and pensioners asking you to tell us how well we’re doing – and where we can improve. This initiative served as a benchmark to help us track changes in members and pensioners’ satisfaction as we work to improve our services.

The initial customer service survey was distributed to more than 2,000 members and pensioners who had contacted OPTrust. Whether it was to ask a question, update their personal information or complete a major transaction such as buying back credit or retiring, members and pensioners were given the opportunity to rate our customer service.

We asked a range of questions, from how prompt our telephone service was and whether our forms and publications were easy to understand, to how quickly the transaction was completed and whether our staff was friendly and knowledgeable. Participants were also asked to rate their overall satisfaction with the service they received.

Since the initial survey, we’ve continued to survey members and pensioners on a quarterly basis to ensure that we’re headed in the right direction in responding to your needs. The survey responses have helped us gauge how well we are serving you, where we are doing a good job, and where there is room for improvement.

Increased satisfaction
To date, we’ve surveyed more than 12,000 members and pensioners. Our latest results show that your level of satisfaction with OPTrust has increased in several areas. On average, members gave OPTrust an overall satisfaction rating of 7.5 out of 10. In addition, OPTrust’s Member and Pensioner Services staff continue to receive high marks for their courtesy (8.6 out of 10), ability to provide information quickly (8.0), making you feel valued (7.4), providing accurate information (7.9), sensitivity to your needs (7.6) and the ease to reach the appropriate person (7.7).

Members also gave a strong rating as to how we keep you informed about your pension. For example, more of you continue to use our Web site as a key resource for information about your pension. As well, 93% of you found our publications useful and informative, again this number has increased since 2001.

Room for improvement
Our research shows you are satisfied with the level of service we provide and on average the numbers have gone up since 2001. There is of course some room for improvement. A key area you mentioned is improving the transaction times.  In particular, members who had completed complex transactions – such as buybacks, commuted value estimates and divestments – were more likely to feel that the process took longer than expected.

Looking ahead
OPTrust is already working to improve the turn-around time on the full range of member and pensioner transactions. In 2002, we completed a significant number of transfers to ease the backlog we were experiencing and we expect to complete the remaining transfers before 2004.

OPTrust is also working on publishing new service standards for 2004 to help improve transaction times and provide you with efficient customer service. Look for these initiatives this year and in 2004.

Going forward, we will continue seeking your input on how we’re doing and what areas need improving. We would like to thank every member who responded to our survey – and encourage those who are contacted in the future to give us their feedback. Your views matter!

Of course we welcome feedback anytime. If you have comments or suggestions please contact OPTrust at email@optrust.com or (416) 681-6100 or toll-free in Canada 1 (800) 637-0024.
 

Return to top of page

Protecting personal information is a major concern for many individuals, particularly at a time when information is exchanged electronically on a daily basis.  That is why at OPTrust, protecting your privacy and ensuring the security of your personal information is a top priority. And we have implemented several measures to manage the privacy of information we receive.

Brief background
In January 2001, the federal government implemented the Personal Information Protection and Electronic Documents Act, which set out ground rules for how private sector organizations may collect, use or disclose personal information in the course of commercial activities. As of January 1, 2004, the Act will apply to any commercial activity for all organizations within a province.

The new Act sets out a series of requirements, including:

• informing individuals of the purpose personal information is being collected, used or disclosed
• obtaining consent for the collection and disclosure of personal information
• ensuring the information is not used or disclosed for other purposes without further consent

OPTrust measures up
The new laws have heightened interest in privacy issues and we’ve had questions about our privacy protection measures. OPTrust has conducted a thorough review of our privacy measures, systems, processes and infrastructures and they measure up to the federal requirements.

In fact, OPTrust along with other public sector pension plans already had strict standards in place in dealing with personal information.

We also believe in constant vigilance on privacy matters. As a result, we have appointed a Privacy Coordinator at OPTrust so there is one contact point for issues or concerns, should they arise.

Online information
As more information is accessed and exchanged through our Web site, security is consistently enforced and maintained. From registering for Pension Information Sessions to sending e-mails and using our interactive forms, the numerous transactions are protected using state-of-the-art technology.

For example, the interactive forms on our site, such as the registration form for information sessions, are protected by Secure Socket Layers (SSL) technology. That means any information you send us using these forms is protected from unauthorized access.

For more information about our online security measure, visit our Web site at www.optrust.com to view our policy.

Next steps
As we move forward, some additional steps we will be taking to enhance privacy protection include:

• an evaluation of our existing information-sharing practices with employers and third parties
• ongoing examination of current practices, processes and procedures to protect personal information
• ongoing staff training to reinforce privacy sensitivity

And we will continue to protect members’ privacy while providing flexible and accessible service.

We want to assure you that the use, collection and disclosure of your personal information will continue to be very important to OPTrust. Your pension and personal information will remain secure.

If you have any concerns or questions regarding OPTrust’s privacy policies and procedures, please contact our Privacy Coordinator at (416) 681-6100 or toll-free within Canada.

Return to top of page

Approximately 500 OPTrust members at Thunder Bay’s Lakehead Psychiatric Hospital will remain as active members of the OPSEU Pension Plan despite the hospital’s recent divestment from the Ontario Public Service.

These members were divested from the Ministry of Health and Long-Term Care on June 23, 2003.

Under an agreement between OPSEU and their new employer, the St. Joseph’s Care Group, their OPTrust membership has been “grandfathered.” As a result, they will continue to contribute to the OPSEU Pension Plan – and earn credit towards an OPTrust pension when they retire. The agreement also recognizes OPSEU as the bargaining agent for the divested employees.

A win-win situation
The agreement is good news for both the members and OPTrust. For the members, it means that they will continue to enjoy all the benefits of OPTrust membership – including a secure pension that increases in value as their credit grows. It also means that they will continue to deal with a single pension plan, even though they have been divested to a new employer.

And of course, OPTrust is pleased to keep providing these members with the level of service they have come to expect and to serve them in retirement.

Special plan provision
The members at the former Lakehead Psychiatric Hospital are able to remain in the OPSEU Pension Plan under a special provision in the OPSEU Pension Plan.

This allows divested members who remain in OPSEU to stay in the OPSEU Pension Plan, provided the new employer signs an agreement to that effect. This provision currently applies only to employees who are divested from a provincial psychiatric institution.

In 1999, approximately 1,000 members at the Centre for Addiction and Mental Health (CAMH) were able to stay with OPTrust under this provision, following their divestment from the Queen Street Mental Health Center and the Addiction Research Foundation.

Employees hired after the divestment at the Lakehead Hospital or CAMH are NOT eligible to join the OPSEU Pension Plan. They may enrol in another pension plan provided by their employer.

Return to top of page

In response to member requests, OPTrust has developed a new booklet specifically designed for divested members. The booklet provides detailed information on members’ rights and options in a divestment situation and answers many important questions, including:

•  What happens to a pension after the divestment?
•  What happens to an active buyback?
•  What retirement options are available for divested members?
•  How is a pension calculated when a member is divested?
•  Do divested members receive insured benefits?
•  What information is provided about benefits after a divestment?

It also includes a number of detailed examples, answers to frequently asked questions and a glossary of common pension terms.

A copy of Your Pension and Divestments was mailed to the homes of all divested members in August. If you are a divested member or you think you may be involved in a divestment situation and did not receive a copy, please contact OPTrust or access the online version.

Return to top of page

In early 2002, OPTrust took on the role of lead plaintiff in a major U.S. class action lawsuit against Nortel Networks Corp. As lead plaintiff, OPTrust seeks to recover damages for all investors who purchased Nortel shares over the 16-week class action period in 2000-2001. Our role in the suit is consistent with OPTrust’s interests as a major institutional investor with a long-term stake in the proper functioning of capital markets.

A securities class action can take some time to conclude. The class action complaint was challenged by Nortel in a motion to dismiss, but the Court upheld the complaint. On September 5, 2003, the Court certified this action as a class action on behalf of investors in Canada and the U.S. “Discovery” processes are now underway. This involves the exchange of documents and information under court direction. OPTrust will give updates from time to time in future issues of OPTions.

Please note: OPTrust will not file individual claims on behalf of members or pensioners.

Return to top of page

After reviewing their Annual Pension Statement, several members ask about pension contributions and what the contribution rates are for both the member and employer.

Employee contributions
Contributions to the Plan are based on your pensionable earnings (this means your regular salary and does not include overtime pay). As long as you continue to receive your regular salary, you continue to make contributions to the Plan (i.e., during a paid leave of absence your contributions to the Plan continue). If you were seconded to an acting management position, your contributions continue to be paid to OPTrust but are based on your management salary. Contributions to the Plan are based on a formula that takes into account Canada Pension Plan (CPP) contributions.

The current contribution rate for members is 5% of the member’s pensionable earnings, which is in effect until November 30, 2003. The new rate effective December 1, 2003 is 6% (see table below for examples). These contributions are integrated with the CPP. This means that your OPTrust contributions are lower for the part of your salary that falls between CPP’s Year’s Basic Exemption (YBE) and the Year’s Maximum Pensionable Earnings
(YMPE).

In 1999, a partial contribution reduction for all OPTrust members went into effect. This reduction, which equalled 4% of earnings, was originally scheduled to end on December 1, 2002 and contributions would have returned to the usual level 8%. Instead, members’ share of gains in the Plan is being used to phase out the contribution reduction gradually.

Employer contributions
Employers also make pension contributions for all members of the Plan. The normal employer contribution rate is now 8% of the member’s pensionable earnings below the YBE, 6.2% between the YBE and YMPE, and 8% above the YMPE.

Stabilizing Member Contributions
If there is a valuation of the OPSEU Pension Plan in the future and there are losses, just as gains are shared, members and employers share the losses by increasing contributions equally. If contribution increases above 8% were required, they can be spread out over a period of up to 15 years to cushion the impact. As well, at the last valuation some of the gains attributed to members was set aside in a member contribution stabilization fund. At the discretion of OPSEU, this money can be used to moderate contribution increases. OPTrust will keep members informed of any contribution rate changes.

For more information on the Plan, refer to our booklet It’s Your Pension or  contact our Member and Pensioner Services staff.
 

Return to top of page

As well as a guaranteed retirement income for you, your OPTrust pension also includes important benefits for your eligible survivors after you die. That is why it is a good idea to confirm that the beneficiary information you have provided to OPTrust is up to date. To do this, just check your 2002 Annual Pension Statement, which we mailed to you in the spring.

If you have not named any beneficiaries, or the information on your statement is incorrect, you can update your records by completing OPTrust’s Identifying Benefit Recipients (IBR) form.

You should also use the IBR form whenever you need to change your beneficiary information in the future. This could include when you:

• have a new eligible spouse
• have a new eligible child
• want to add or change your “designated beneficiaries” or your “refund recipient.”

The IBR form is available online, from your human resources representative, or by calling our Member and Pensioner Services staff at (416) 681-6100 or 1-800-637-0024.

More information on naming your beneficiaries, eligibility requirements and how survivor benefits are paid is available in the booklet Your Pension and Your Beneficiaries.

Return to top of page

The OPSEU Pension Plan sets out specific eligibility criteria for survivor pension entitlements. Under these rules, a spouse is someone, whether of the same or opposite sex, with whom you:

• are married, or
• have been living together in a common-law relationship for at least three years, or
• are living together and are the natural or adoptive parents of a child.

Survivor benefits for an eligible spouse vary depending on whether you die before or after you start receiving a pension. For active and deferred members, or members with a deferred pension entitlement, if you die before your pension begins, your spouse must be living with you when you terminate from the Plan and when you die to be eligible to receive survivor benefits. If you die after your pension begins, your spouse must have been living with you at the time your pension began.

Members who identify a spouse for survivor benefits using the Identifying Benefit Recipients form must also complete OPTrust's Statement of Spousal Relationship. Additional supporting documentation may also be required.

You can also use the IBR form and Statement of Spousal Relationship to identify a common-law or same-sex spouse before you have been living together for three years. This will make it faster for OPTrust to administer a survivor benefit if you die after your spouse becomes eligible under the three-year rule. Both forms are available online or by contacting OPTrust.
 

Return to top of page

OPTrust recently updated its comprehensive plan booklet It’s Your Pension to reflect new changes to the OPSEU Pension Plan.

The revised plan booklet covers the temporary and permanent benefit improvements and the extended contribution reductions implemented as a result of funding gains in the Plan. Temporary plan benefits are highlighted in a separate insert at the front of the booklet.

The booklet also covers a description of the permanent features of the Plan from the time a member joins through retirement and survivor benefits. Other key sections include:

• Pension plan basics
• Member contribution rates
• Transfers to and from the OPSEU Pension Plan
• Accruing credit in the Plan
• Retirement options
•  Inflation protection

Another  feature of the print version is the addition of a pocket on the back inside cover. This allows for important forms or other time sensitive material to be inserted when necessary. To order a print copy of It’s Your Pension, contact OPTrust..

Return to top of page

Jordan Berger, a former trustee recently returned to the OPTrust Board of
Trustees. Berger, who was first appointed to the OPTrust Board of Trustees by OPSEU in 2001, returned in March 2003. He is a member of the Investment Committee and the Corporate Governance and Proxy Voting Committee.

Berger works for the Ontario Public Service Employees Union as the Supervisor of Strategic Planning and Policy Development. Prior to joining OPSEU, he worked for the Ontario NDP Government, as an assistant to the Premier and then as labour policy advisor to the Chair of Management Board.

Return to top of page

Question: Does the recent Ontario court ruling regarding gay and lesbian marriages affect OPSEU pension plan survivor benefits for same sex spouses?

Answer: In 1998, OPTrust sought and won a court ruling allowing the payment of survivor benefits to same sex partners directly from the OPSEU Pension Plan. As a result, OPTrust already applies the same eligibility criteria to unmarried same sex couples as we do to opposite-sex common law relationships. Now that same sex spouses can be married in Ontario, they can provide proof of marriage to establish the right to spousal benefits without having to live together for three years.

Question: I've already provided proof of birth and proof of spousal relationship information to my employer. Why do I also need to submit this information to OPTrust?

Answer: OPTrust does not have access to your records on file with your employer. In some cases, your employer may not have forwarded copies of your proof of birth or marriage to OPTrust. Providing OPTrust with this information will ensure that we have the most accurate information in our records. Any information you provide to OPTrust is treated as confidential and private.

Question: My job is going to be divested to a non-OPS employer. Can I keep making buyback after this happens?

Answer: No. Once you are divested to an employer that does not contribute to the OPSEU Pension Plan, you cannot continue making contributions to the Plan. If you want to receive credit for the full period you are buying back, you will have to arrange to complete your payments before or immediately following your transfer to your new employer. For more information, refer to our booklet Your Pension and Divestments available online or by contacting OPTrust.

Return to top of page