Procedures- Retirement
Procedures- Retirement
Employers must complete the following procedures when an OPTrust member terminates employment and retires with an immediate pension from the OPSEU Pension Plan.
Important! Employers should forward all necessary documentation to OPTrust six months before the member’s planned retirement date.
1. Complete the Termination of Membership – Application for Entitlement (OPTrust1012)
This form does not require the member’s signature but does require an authorized employer’s signature.
Note: if the member is a divested member retiring from the successor employer, the successor employer only needs to send OPTrust a letter confirming the date of termination.
Important! Termination while on LTIP: When a member is terminating his or her plan membership while on LTIP, the employer should state “Member on LTIP” in the final salary section of OPTrust's Termination of Membership (OPTrust 1012) form, rather than entering a salary amount. The collective agreement salary for the position may be different from the final salary on LTIP.
OPTrust will contact the member for any additional documentation that is required.