What happens to your pension after you retire?
What Happens to your Pension After You Retire?
How and when your pension is paid
Inflation protection – annual increase
Changes to your pension at age 65
Working After your Pension Begins
If a pensioner lacks the capacity to deal with his or her finanical affairs
What Deductions are Taken from Your Pension?
What Death Benefits are Available for your Survivors after Retirement?
What About Health, Dental and Life Insurance Benefits?
How and when your pension is paid
At OPTrust, pensions are paid on a monthly basis, usually on the 26th except for December when we pay pensions earlier. For your convenience, we offer direct deposit to the financial institution of your choice anywhere in Canada and in the United States. When you retire your first pension payment will be paid on the 26th of the month following your retirement so, if you retire on May 15th, your pension begins on June 1st and your first pension payment would arrive on June 26th. Normally, we only deduct income tax based on your OPTrust pension income unless you tell us you want other deductions. If you want additional tax deducted, you can use our secure Online Services or complete a Personal Information Change Request or an Income Deduction Change form and send it to OPTrust.