Fact Sheets

Fact Sheets contain in-depth information on select topics.

Buybacks

Buying Back Pension Service


Are you a new OPTrust member? Have you taken an unpaid leave of absence recently? If so, applying to buy back pension service in the Plan could be one of the best financial decisions you can make.

Leaves of Absence and Your Pension


Taking an unpaid leave of absence (LOA) can affect your pension. That’s why the OPSEU Pension Plan gives you two options to help you maximize your OPTrust pension: contributing to the Plan during your leave, or buying pension service once you return to work.

Open Option Buyback


Effective February 1, 2010, you can apply to buy back credit for eligible past service, even after the 24-month application deadline. Under the new option, you can also apply for a previous buyback that you did not complete within the 10-year, three month payment window.

Disability

Disability Pension


If you are a member of the OPSEU Pension Plan (the Plan) and still employed but can no longer work due to a permanent physical or mental disability, you may qualify for a disability pension or a special disability refund from the Plan.

Contributing to Your Pension While on a WSIB Leave


OPTrust members who are off work due to a workplace injury or illness, and receive benefits from the Workplace Safety and Insurance Board (WSIB) are eligible to continue contributing to the OPSEU Pension Plan, and also receive pension credit for the period of their leave.

LTIP and Your Pension Contributions


OPTrust members, who are required to take time off from work due to a severe illness and go on Long Term Income Protection (LTIP), will continue to earn credits towards their pension while away from work.

Leaving the Plan

Bridging to an unreduced pension


Pension bridging requires a special provision in your collective agreement. In the Ontario Public Service (OPS), a bridging option is currently available to OPTrust members who are declared surplus and are covered by the Central Collective Agreement between OPSEU and Management Board of Cabinet. Bridging is also available to eligible employees in the OPS who are affected by a divestment.

Deferred Pension or Commuted Value Transfer


OPTrust members who leave their jobs before retirement often have an important decision to make. Once they receive their Termination Statement from OPTrust, many members will have to choose between one of two options.

Grow-In Benefits and Your Pension


Under Ontario pension law, OPSEU Pension Plan members whose employment is involuntarily terminated may be eligible to “grow in” to an early unreduced pension at a future date. This means if your employment is terminated involuntarily, you may still be eligible to qualify for an unreduced pension under the Plan’s Factor 90 or 60/20 early retirement options.

Pension options when your employment ends


When you leave your job with an employer that participates in the OPSEU Pension Plan, you may have one or more options regarding your pension. Depending on your age and years of credit in the Plan you may be eligible for a number of options.

Marital status

How to prove your spousal relationship


To determine your spouse’s eligibility to receive survivor benefits, OPTrust needs the following documentation as confirmation of your spousal relationship.

Family Law and Your Pension (Post-2011 Rules)


Ontario’s Family Law Act and Pension Benefits Act set out rules and procedures for dealing with pension assets when a plan member’s spousal relationship ends. Plan members may choose or be required to pay a portion of their pension to their former spouse. The law sets out the steps you and your former spouse must follow to value and divide your pension from OPTrust.

New members

Quick Facts about Your Pension


Welcome to the OPSEU Pension Plan. You are now part of a defined benefit pension plan which means you will receive a retirement pension based on a formula that takes into account your salary and years of pension service. This fact sheet provides you with information on how your pension can influence your financial landscape.

Planning for retirement

Bridging to an unreduced pension


Pension bridging requires a special provision in your collective agreement. In the Ontario Public Service (OPS), a bridging option is currently available to OPTrust members who are declared surplus and are covered by the Central Collective Agreement between OPSEU and Management Board of Cabinet. Bridging is also available to eligible employees in the OPS who are affected by a divestment.

Your retirement planning checklist


Use this checklist to help you get started with your retirement plans. Most financial advisors estimate that you will need 60% to 80% of your pre-retirement income to maintain your current lifestyle after retirement.

Retirees

Appointing a Power of Attorney for Property


When you appoint an attorney, you are granting someone the power to handle your financial matters including your OPTrust pension. OPTrust needs an original or notarized copy of your power of attorney for property to take direction from the person you appoint as your attorney.

Cost of Living Adjustment for Your Pension


Every January, OPTrust pensions are adjusted for the increase in the cost of living, as measured by the Consumer Price Index (CPI), reported by Statistics Canada. The result is protection for the buying power of your pension - and security for the future.

Turning Age 65 and Your Pension


When a pensioner reaches age 65, their temporary OPTrust benefit ends because they are now eligible to collect a CPP retirement pension.

Survivor benefits

Child survivor benefits


View frequently asked questions about child survivor benefits.

How to prove your spousal relationship


To determine your spouse’s eligibility to receive survivor benefits, OPTrust needs the following documentation as confirmation of your spousal relationship.

Survivor benefits after retirement


The OPSEU Pension Plan provides valuable benefits for your survivors should you die after starting your pension. As a member, it is important that you keep your spousal information and beneficiary designations up to date with OPTrust so that we can pay any survivor benefits in accordance with your wishes.

Survivor benefits before retirement


The OPSEU Pension Plan provides valuable benefits for your survivors should you die before starting your pension. As a member, it is important that you keep your spousal information and beneficiary designations up to date with OPTrust so that we can pay any survivor benefits in accordance with your wishes.

Temporary part-time work arrangements

Effective February 1, 2022, members of the OPSEU Pension Plan will earn full pension service if they enter into an arrangement with their employer to temporarily reduce their regular working hours. Members will also be able to buy back periods when they worked on a temporary part-time work arrangement in the past.

This will support members who participate in flexible working arrangements, such as job-sharing, so they can maximize their pension.

Transfers

OPTrust/OPB Transfers - Your Pension and Your Career in Ontario's Public Service


If you are moving to a bargaining unit position, management position or an excluded position, there are several factors to consider concerning your pension and your career in the Ontario Public Service (OPS).

Transferring your pension to OPTrust


OPTrust participates in transfer agreements with a number of public sector pension plans. Under a transfer agreement, new OPTrust members who have pension credit in another registered pension plan may be able to transfer their pension credit to OPTrust.

Transferring your OPTrust pension to another pension plan


OPTrust participates in transfer agreements with a number of public sector pension plans. Under a transfer agreement, OPTrust members who end their plan membership in the OPSEU Pension Plan may be able to transfer their pension credit to another employer's pension plan.