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Health considerations

WEBIf you qualify for LTIP, you will continue to earn pension credit in the Plan. The amount of pension credit you earn depends on a few factors: your employer, your position, your …

Actived: 7 days ago

URL: https://www.opb.ca/current-members/changes-in-your-life/health-considerations

Defined benefit plans 101

WEBWhat is a defined benefit plan and why is it valuable? It’s called a defined benefit plan because it’s based on a pre-set formula that defines the benefit you’ll receive when you …

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Pension pay dates and direct deposit

WEBSeptember 3. October 22. October 1. November 22. November 1. December 20. December 2. Download a printable version of the pay schedule (PDF). Important: If you receive …

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New Member Portal

WEBNew Member Portal. We’re thrilled to introduce you to OPB’s new member portal! Designed with feedback from members like you, the new e-services features …

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Managing your taxes

WEBManaging your taxes. Making the most of your retirement income requires effective expense management and planning ahead for large expenses, such as vacations or long-term …

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Long-term income protection (LTIP) rules for OPP and PEGO

WEBLTIP rules for OPP and members represented by PEGO. The following applies to you if both are true: You are one of the following: Represented by Professional Engineers, …

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Retirement Compensation Arrangement (RCA)

WEBOn January 1, 2022, the existing Public Service Supplementary Benefits Account (PSSBA) was replaced by a new Retirement Compensation Arrangement (RCA) which provides …

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Improvements to Canada Life Legacy Plan coverages

WEBThe per half-hour cap for services provided by a psychologist of practitioner registered with a Master of Social Work (MSW) designation will increase from $40 to …

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Long-term income protection (LTIP) old rules

WEBPre-2016 LTIP rules for all members & post-2015 LTIP rules for certain members. The following applies to you if either: You have been approved for LTIP as a …

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Optional Upgrade Package three-month premium holiday begins …

WEBAs communicated to you by the Government of Ontario in April 2022, a three-month temporary premium holiday will be implemented for the retiree-paid Emergency …

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About your pension

WEBIn 2024, your annual contributions are: 7.4% of your annual salary below the year's maximum pensionable earnings (YMPE), plus 10.5% of your annual salary above the …

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Calculating basic contributions

WEBAdd the figures calculated in Steps 1 and 2 to calculate the annual contribution amount. $5,069.00 + 2,782.50 = $7,851.50. 4. Determine the daily contribution amount (i.e., …

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Availability of post-retirement insured benefits optional upgrade

WEBAvailability of post-retirement insured benefits optional upgrade packages. As announced by the Government of Ontario late last year, retired PSPP members and …

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How is your pension calculated

WEBCalculation. Totals. Age: 60 Average annual salary: $95,000 Pension credit: 15 years Average YMPE: $66,666.67. Pension before age 65: 2.0% multiplied by $95,000 …

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