How do you get pension service in the OPSEU Pension Plan?

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BUILDING PENSION SERVICE

Pension service is the total period of time during which you contribute to the pension fund or have contributions made on your behalf. The amount of pension service you build up, or “accrue,” in the Plan depends on whether you work full time or part time. If you work full time, you accrue a full year of pension service in the Plan for each calendar year of employment.

WORKING PART-TIME

If you work part time, you accrue service in the Plan based on the percentage of time you work, compared to full-time employment. For example, if you work 50% of full time, you accrue 50% of one full-time year – or six months – of pension service in the Plan.

SPECIAL PENSION TREATMENT FOR PRE-RETIREMENT PART-TIME EMPLOYMENT

With the approval of your employer and subject to certain conditions, you may be allowed to switch from full-time to part-time employment within five years of retirement and obtain special pension treatment. After obtaining the consent of your employer you must submit your notice to your employer to retire within five years. This special provision lets you work part time while making full-time contributions to the Plan so that you accrue full-time pension service. Under this provision, you cannot work full time after you have given notice to your employer and you must retire upon reaching your chosen retirement date. Contact your employer to find out if you qualify for this provision.