Pension
- all teachers belong to a pension administered by the Ontario Teachers’ Pension
Plan Board
- contributions
are deducted by the Board, matched by the Ontario Government
- contributions
are locked in after two years of service • an unreduced pension
is available when factor 85 is achieved (when your age + qualifying
years =85)
- your
pension will be based on your service credit (in years, months, days)
x 2% x an average of your 5 best rates of pay
- disability pensions
are available
- if
you retire before achieving the 85-factor, you must be at least 50
years of age, and a penalty reduction is made to your pension
- members
leaving teaching in Ontario before retirement should discuss their
options with the OTPPB and/or the Benefits & Retirement Counsellor
- teachers
are strongly urged to make up pension contributions for leaves. Request
Buybacks for Absences from the Pension Board or download it from the
Pension Board’s
website
- your personal information is available on the Pension
Board’s
web site. Request your personal iAccess ID by logging on to the website
