Your 2017 Annual Pension Statement


Your 2017 Annual Pension Statement will be available online in your Online Services account by the end of April 2018. Where applicable, we will start mailing statements to members from February until mid-April. Please ensure that we have your correct email address and home mailing address so that you receive your statement without any delays.

Starting to think about your retirement?

Do you know what your future pension will be? What about your personal savings or other sources of retirement income?

Your OPTrust pension will likely be a major component of your financial future, so it's important to know what you can expect to receive at retirement to help you prepare in advance. Whether you're nearing retirement, are in mid-career or are just starting out, it's never too early to set your financial goals and plan for the future.

Your retirement income

If you are like most OPTrust members, your retirement income will consist of three pillars:

  • your OPTrust pension
  • government benefits (Canada Pension Plan and Old Age Security)
  • RRSPs, investments or other savings.

Remember it is a good idea to consult a financial advisor to help plan for your financial future. Learn more about your defined benefit advantage, download OPTrust's defined benefit advantage infographic.



About your Annual Pension Statement

Your 2017 statement is a snapshot of your OPTrust pension at December 31, 2017. Your statement is designed to show your pension data on the left-hand side with a description of the content on the right side. It is personalized and features the information that is relevant to you, including your:

  • pension estimates
  • average annual salary
  • pension service
  • spouse and beneficiary information
  • contributions and interest
Your Annual Pension Statement Explained

Your new statement also shows OPTrust's pension formula and how we calculated your lifetime pension at age 65 using your personal data.

2017 APS sample image
  1. Your personal information

    This section includes your name, address, date of birth, OPTrust ID number, plan membership date and indicates whether or not you are vested.

  2. A snapshot of your pension benefits

    This section of your statement shows your pension estimates at December 31, 2017 in a highlighted box and what you will receive if you:

    • had stopped contributing to the Plan at year-end
    • contribute to the Plan up to your earliest unreduced retirement date
    • continue to contribute to the Plan up to age 65.
  3. Average annual salary

    Your OPTrust pension is calculated using your highest consecutive five-year annual salary rates during your membership. The best average annual salary as of December 31, 2017 is shown on your statement.

  4. Pension Service

    Your pension service is the total period of time during which you contribute to the Plan or have contributions made on your behalf. Your pension service at December 31, 2017 shows all the pension service you have accumulated in the Plan, including buybacks, transfers and adjustments.

  5. OPTrust pension formula

    Your OPTrust pension is calculated using a formula that takes into account your best five-year average annual salary and pension service in the Plan. The formula on your statement shows the calculation for your pension at age 65.

  6. Spouse and beneficiary information

    This section shows your beneficiaries on record at OPTrust. If the information is incorrect or needs to be updated, visit our website to make changes through your secure Online Services account or complete a Pension Beneficiaries form.

  7. Contributions and interest

    This section shows your regular contributions for the year as well as contributions made on your behalf. Your employer's regular contributions are not included in this figure.

Go paperless with Online Services When you register for OPTrust's secure Online Services site, you can change your communications preferences to receive an electronic statement only. The electronic version is available weeks in advance of the paper statement. The five most recent statements are available in your account. Please note, this service is not available for deferred and divested members.


Questions & Answers
What should I do if any of the information on my statement is incorrect or needs to be updated?

If you find any errors in your personal information or inaccuracies in the pension data on your statement, please contact OPTrust. In some cases we may need additional documentation or we may need to contact your employer before we can make any changes.

Your statement is based on information provided by your employer. If there are errors in this information, your pension estimates may change as more accurate data becomes available. An error on your statement does not entitle you to benefits not provided for by the OPSEU Pension Plan based on your actual situation. Correcting any errors on your statement will give you accurate pension information for your retirement planning.

I noticed my Social Insurance Number is not listed on my statement. Is this an error?

No, it is not an error. OPTrust no longer uses members’ Social Insurance Numbers for personal correspondence and documents. Instead, all members have been assigned a unique OPTrust ID number to identify individual records and personal information on file. Your OPTrust ID further protects the privacy and security of your personal data, and it can also be used to access your personal account through secure Online Services.

Can I view my Annual Pension Statement online?

Yes. Your Annual Pension Statement is available through our secure Online Services. You can view your five most recent statements. Simply sign-in or register for Online Services to view your statement and other personal information. If you have not registered yet, you will need to contact us for your temporary password and have your OPTrust ID number to complete the process. Once registered, you will automatically receive your APS electronically.

Why did I not receive my APS in the mail?
  1. Your Communication Preference for statements in the OPTrust secure Online Services is set as "Electronic." Please log into your account to view your statement.
  2. If your Communication Preference is set to "Mail" or if you do not have an online account, please check that we have your correct mailing address on file.
My beneficiary information is incorrect, how can I update my records?

You can update your spousal information and/or update your beneficiaries through OPTrust’s secure Online Services. Alternatively, you can complete a Pension Beneficiaries form available online or from OPTrust.

Should I name my spouse as a designated beneficiary?

No. By law, survivor benefits are payable to your eligible spouse when you die and take first priority over any other beneficiaries you designate. However, it is a good idea to identify someone else as a designated beneficiary, in case both you and your spouse die at the same time, or your spouse dies before you. Your designated beneficiary should be someone other than your spouse and can be any person or organization that you choose. Benefits will be divided equally if you designate more than one beneficiary. There is one exception - if your spouse has waived their right to pre or post-retirement survivor benefits you may designate them as a beneficiary if you wish. 

I am single and have no children. Do I need to designate a beneficiary?

The choice is yours. You can choose to name any person or organization. We’ll direct any payment to those named, if you die before you retire. If you don’t designate a beneficiary, we’ll issue the payment to your estate. It may take some time to sort out estate situations, while payments to designated beneficiaries can generally be processed quite quickly.

Why is my pension higher before age 65 than after?

If you retire before age 65, in addition to your lifetime pension, you will also receive a CPP bridge pension from OPTrust. This temporary benefit increases your pension income until you are age 65. The annual pension you receive from OPTrust will be reduced at age 65 when you are eligible to begin collecting an unreduced CPP pension. For an estimated breakdown of your CPP integrated pension at age 65, try out OPTrust’s online pension estimator.

Why does my APS not show a Factor Date Pension Estimate?

If you do not work full time, OPTrust cannot project your future pension service. We can only provide a pension estimate at 31-DEC-2017.

Why is my total pension service different from my plan membership date?

Your plan membership date is not directly linked to your total pension service in the Plan. Your pension service may reflect a number of factors, such as part-time service, leaves of absence, buybacks, and transfers from other pension plans. Your pension and your eligibility for early retirement are based on your total pension service, not your plan membership date.

My statement lists my total contributions plus interest. Is this how much my pension is worth?

Your OPTrust pension is not calculated based on your contributions. The OPSEU Pension Plan is a “defined benefit” plan. This means that your pension is calculated using OPTrust’s pension formula. As a result, your pension is based on i) your years of pension service in the Plan and ii) the average of your highest consecutive 60 months of annual salary rates in the Plan.

Why is the average salary listed on my statement different from my current salary?

To calculate your pension, we use an average of your best five-year annual salary rates earned up to December 31, 2017. If you have been a member for less than five years, your average annual salary is based on your period of membership in the Plan.

I work part-time and started contributing to my pension 10 years ago. Why does my statement show only five years of pension service?

By working part-time at 50% of full-time hours over 10 years, you have earned five full years of pension service. Your pension calculation will be based on this amount of pension service. The calculation will also use your average annual “full-time equivalent” salary rate, not your actual part-time earnings.

Why is my age 65 pension amount lower than last year’s amount?

If you did not have a wage increase last year or in prior years, your age 65 pension amount will decrease for these reasons:

  • we use the average of the past five years of Year’s Maximum Pensionable Earnings (YMPE) to calculate the reduction that is applied to your pension at age 65
  • the YMPE increases every year
  • the higher average YMPE results in a larger age 65 reduction

If your salary does not increase, your age 65 pension may continue to decrease.

I bought back past service. Why does it not show up on my statement?

Your statement lists only pension service that was paid for in 2017. To see all of your credited pension service, including the service you bought back in prior years, please check the “Pension Service” section of the statement and refer to the “Total Pension Service.”

Can I buy back pension service for unclassified service or a leave of absence?

You may be eligible to buy back pension service for:

  • past service – including contract or unclassified service – with an employer who contributed to the OPSEU Pension Plan, the Public Service Pension Plan, or its predecessor
  • past service with an employer who contributed to another Canadian registered pension plan, and
  • leaves of absence for which you did not contribute to the Plan.

To buy back past service, you must submit an online or written application to OPTrust. For more information on buying back past service, refer to our factsheets Your Pension and Buying Back Pension Service and Open Option Buyback.

I’m currently buying back pension service, why does my statement only reflect the pension service I have purchased?

If you are buying back past pension service, your Annual Pension Statement provides you with a current account of your pension service. The “Total pension service” listed on your statement includes any pension service that you have paid for as of December 31, 2017. Any remaining pension service you have committed to purchase is included in “Pension Estimates”. To view a status of your ongoing buyback, sign-in to our secure Online Services where you can track the progress of your payments.


Do you have additional questions about your statement? Contact us through your secure Online Services account or by phone at 416 681-6100 or 1 800 637-0024.

Planning Milestones

As you progress through your career, you may want to perform these tasks for a secure, comfortable retirement.

Life Stage
Retirement Planning Task
Less than 2 years of membership
  • update your spousal information and designate your beneficiaries through our secure Online Services or by completing a Pension Beneficiaries form
  • as a new member, you may have the option to buy back past service. Contact OPTrust to confirm if you are eligible.

5 years of membership

10 years of membership

A leave of absence due to:

  • pregnancy, parental and adoption
  • family medical leaves

Retirement options:

  • You are age 60 or older with at least 20 years of pension service
  • Your age plus years of pension service total at least 90 (Factor 90)
  • Age 55
  • Age 65*
  • you are eligible to retire under the OPSEU Pension.
  • contact OPTrust about your retirement options and attend a Pension Information session.
  • complete a Termination of Membership form available from your human resources representative. It confirms your intention to retire and your employer will provide a copy to OPTrust.
  • you should notify OPTrust, as well as your employer, at least six months in advance of your expected retirement date.
  • at age 55 you are eligible for early retirement but your pension will be reduced if you do not qualify for Factor 90. Your pension is calculated using the basic pension formula (and does not include the CPP reduction until age 65). Your pension is then reduced by 5% for each year you are under age 65.

The normal retirement age in the Plan is 65. If you continue to work past the age of 65, you may choose to continue to contribute to the Plan and defer your pension. However, by the end of the year you reach the age of 71, the Income Tax Act requires that you stop making contributions to a registered pension plan and start receiving a pension. So, your membership in and contributions to the Plan must end at this time and pension payments must begin.


Release & Mailing Schedule

Your 2017 Annual Pension Statement will be available online in your Online Services account no later than mid-April 2018. Where applicable, we will start mailing statements to members from late February until mid-April. Please ensure that we have your correct email address and home mailing address so that you receive your statement without any delays.

March 7, 2018
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March 27, 2018
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April 10, 2018
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April 18, 2018
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April 30, 2018
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