OPTrust Pension buyback for your defined benefit plan!!!
OPSEU has successfully negotiated a change to the OPSEU Pension Trust buyback
you can now buy back your pensionable time if you previously missed (or ignored) the 24 month timeline!
OPTrust is now accepting applications from members:
- for leaves of absences that ended more than 24-months before the application date (aka: you missed the buyback deadline)
- who did not apply within 24-months of their most recent plan membership date to purchase non-contributory service (aka: contract service)
- for service with other registered public sector pension plans
Potentially, you could buy back your time and may be closer to one of the early retirement options (Factor 90 or 60/20) and you would likely see an increase to your pension at retirement.
Get an estimate
Use the Online Buyback Calculator to get an estimate for your missed period of service.
Pension Estimate Calculator
Use the Pension Estimate Calculator to see what your pension will be when you retire.
How do I apply?
Get your estimate then complete the Application for Past Service Credit form and return it to the OPTrust office. Note: Previous buyback applications will be accepted. If you want to re-open an application that was previously denied due to the plan’s normal 24 month application time limit, you do not need to re-send your records to OPTrust since they have the information on file. Simply contact OPTrust and they can probably re-open your initial application.
For more information
Employer representatives and plan members who have questions about the new buyback rule should read our Open Option Buyback fact sheet or contact OPTrust’s Member and Pensioner Services by phone or e-mail.
OPSEU has successfully negotiated a change to the OPSEU Pension Trust buyback
you can now buy back your pensionable time if you previously missed (or ignored) the 24 month timeline!
OPTrust is now accepting applications from members:
- for leaves of absences that ended more than 24-months before the application date (aka: you missed the buyback deadline)
- who did not apply within 24-months of their most recent plan membership date to purchase non-contributory service (aka: contract service)
- for service with other registered public sector pension plans
Potentially, you could buy back your time and may be closer to one of the early retirement options (Factor 90 or 60/20) and you would likely see an increase to your pension at retirement.
Get an estimate
Use the Online Buyback Calculator to get an estimate for your missed period of service.
Pension Estimate Calculator
Use the Pension Estimate Calculator to see what your pension will be when you retire.
How do I apply?
Get your estimate then complete the Application for Past Service Credit form and return it to the OPTrust office. Note: Previous buyback applications will be accepted. If you want to re-open an application that was previously denied due to the plan’s normal 24 month application time limit, you do not need to re-send your records to OPTrust since they have the information on file. Simply contact OPTrust and they can probably re-open your initial application.
For more information
Employer representatives and plan members who have questions about the new buyback rule should read our Open Option Buyback fact sheet or contact OPTrust’s Member and Pensioner Services by phone or e-mail.