Transfers from Other Pension Plans
OPTrust participates in transfer agreements with a number of public sector pension plans across Canada. Under these agreements, new OPTrust members may be able to transfer their pension service to OPTrust.
As with a buyback, transferring pension service increases the amount of the member’s OPTrust pension at retirement and may allow him or her to qualify for early retirement, or to qualify for retirement sooner.
To arrange to transfer pension service from one of these plans, members should complete and submit an Application for Past Service Credit form (OPTrust 1036), and provide the details of his or her past pension service. OPTrust will confirm whether he or she qualifies for a transfer and follow up directly with the member and/or previous pension plan.
Important! Employers should remind new OPTrust members that there are strict time limits for applying to transfer pension service to the OPSEU Pension Plan under these transfer agreements. These time limits may vary depending on the terms of the individual transfer agreement.
Employees who are interested in transferring pension service should submit their Application for Past Service Credit form (OPTrust 1036) or contact OPTrust directly as soon as possible after their enrolment.
For a complete list of pension plans with which OPTrust has signed reciprocal transfer agreements, please see the OPTrust fact sheet, Transferring Your Pension Credit into the OPSEU Pension Plan.