About OPTrust

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The OPSEU Pension Plan Trust Fund (OPTrust) is a legal trust formed by a contractual agreement between the two plan sponsors, the Ontario Public Service Employees Union (OPSEU) and the Government of Ontario. OPTrust is governed by a Board of Trustees.

OPTrust began operations in 1995, and is a separate organization at arms-length from both sponsors. As of December 31, 2023, the OPSEU Pension Plan had over 111,000 members.

OPTrust is subject to the rules and regulations governing pension plans in Ontario and Canada, including the Pension Benefits Act (Ontario) and the Income Tax Act (Canada).

JOINT GOVERNANCE

The OPSEU Pension Plan is the result of years of discussion between the Government of Ontario and OPSEU to create a pension plan in which members have a say. As the plan sponsors, the Government and OPSEU each appoint five trustees to the Board of Trustees. The Board is the legal plan administrator under the Pension Benefits Act and is responsible for the administration of the Plan and the administration and investment of the plan’s assets.

The Plan is legally a “jointly sponsored pension plan” (JSPP) under the Pension Benefits Act and is subject to the rules that apply to JSPPs. Under a JSPP, the members and employers share in the governance of the Plan.

A JSPP is designed to give the administrator the flexibility it needs to make the plan sustainable for the long term.

CHANGES TO THE PLAN

This booklet summarizes the current plan provisions as of April 1, 2023. The plan terms can be changed if the plan sponsors agree to the change and the change complies with the plan terms and applicable legislation. OPTrust will provide notice of any plan amendments in accordance with the notice requirements in the Pension Benefits Act.