Procedures - Divestments

posting date Revised: August 2009 print page Print this page Email link to page Email the link

Employers must complete the following procedures when a member is divesting from the OPSEU Pension Plan.

The following information should be sent to the OPTrust Policy Department as soon as it becomes available.

1. Procedures for OPTrust employers prior to divestment from the OPSEU Pension Plan

Initial Documentation

  • an initial listing of all potentially affected staff who are members of the OPSEU Pension Plan by name and social insurance number
  • the name of the existing organization and contact person
  • the name of the proposed organization (successor employer), the pension administrator and contact person(s).
  • summary of the change contemplated
  • complete legal documents showing how the new employer is constituted and created and how the new employer relates to the old employer
  • any agreements or memorandum of understanding between the new and old employers and the Government of Ontario that in any way affects staff or between the Government of Ontario and affected unions or the new employer and affected unions
  • any pension related materials or general employment status material already provided to staff about the potential change

Collective Agreement

  • status of expiry or continuation provisions of the current applicable collective agreement
  • information about the stage or process of any collective agreement change
  • present and future union status of affected employees

Timing of Proposed Changes

  • precise details of the time at which various activities will take place (e.g. communications with staff, creation of new organization, transfer of staff to new organization, termination of staff, etc.)
  • if a decision has been made about the proposed pension plan, indicate name of pension plan and whether it is already in existence – and if not when it will be in place

Contacts

  • a contact person from the current employer who can provide data or facilitate provision of data on employees where existing data is inadequate
  • a contact person from the successor employer for further information

icon Important! A final list of affected members must be sent to OPTrust Policy department at time of divestment indicating the final member status (divested, terminated, retired, or died as at the divestment date).

2. Procedures for OPTrust employers at time of divestment from the OPSEU Pension Plan

icon Note: Complete the Termination of Membership – Application For Entitlement (OPTrust1012) form for all members that retire or terminate plan membership prior to the divestment date.

3. Procedures for successor employers when the former member terminates employment, retires or dies

OPTrust requires a letter from the successor employer stating the following information:

  • Employment/plan termination date
  • Member Name
  • SIN
  • Current Member Address
  • Period of Employment
  • Employer contact information