No. 5, Spring 2006
UPDATED – see article under Publications, OPB News
You may be a PSPP member in error
If you have re-joined the workforce post-retirement and are receiving a pension from another employer, you may be enrolled in the PSPP in error.
Under the Federal Income Tax Act , you cannot join the PSPP if you’re receiving a pension from a ‘related employer’. A related employer is an organization that is “controlled” by the Ontario Government
(i.e., the Ontario Government appoints the majority of that employer’s Board of Directors). Specific examples of related employers include:
• the Hydro employers (Electrical Safety Authority, Hydro One, Independent Electricity Market
Operator and Ontario Power Generation); and
• the Ontario Public Service, if you are receiving a pension from the OPSEU Pension Plan.
If you are receiving a pension from a related employer, you were enrolled in the PSPP in error.
Your PSPP membership may only continue if you
– and the other pension plan – agree to stop your pension payments. If not, your PSPP membership will have to end and your contributions will be refunded to you, with interest.
ONTARIO PENSION BOARD
The OPB wants to know how it can serve you better. In the upcoming months, you may receive a call asking you to participate in an OPB telephone survey.
See page 2 for details ÿ
• The OPB Needs Your Input!............................ 2
How can we serve you better?
• The end of Mandatory Retirement................... 2
Will it affect your pension?
• Protecting your personal information .............. 3
New booklet sets out what you should know
• The OPB Goes On the Road!
Frequently asked questions................................ 4
• Estate planning and your pension................... 5
Let us know who your beneficiaries are – it could save them time and money
• Planning for your retirement? ......................... 6
Pension estimates help you look into your future
• News on our Board of Directors ..................... 7
New appointee and passings
This newsletter provides general and summary information only. If there is any discrepancy between the information in this newsletter and the legal documents establishing the Public Service Pension Plan
(PSPP), the legal documents will prevail. Please contact the Ontario Pension Board (OPB) if you have ay questions and before you make any decisions about your pension.

2
To make sure that we comply with the income tax laws, we must ask you to contact us if you’re receiving a pension from an Ontario
Government agency. Please call Jean Bubba,
Employer Services Analyst, at 416-601-4026, and give us the name of your former employer and your former employer’s pension plan, so that we can confirm your eligibility.
What about non-related employers?
If you retired and are receiving a pension from an employer that is not related, you can join the PSPP while continuing to receive your pension. Non-related employers include the Municipal, Federal or another Provincial
Government, and the private sector.
How can we serve you better?
– you could be one of them. The phone interview takes about 20 minutes to complete and will ask you questions about your pension information needs, OPB service delivery, and what you think about the OPB in general (no personal information will be requested). You can ask the surveyor to call you at another time, if you want to first confirm their identity with us.
If you receive a call, please share your thoughts.
While the decision to participate is – of course – up to you, keep in mind
Did you know that …in a study of people age 50+ that the comments we receive help us assess who retired between 1992 and 2002, one in five our service delivery to you – to ensure returned to some form of paid work? Most retirees
(38%) returned for financial you are getting the information you reasons, but many people
(19%) just wanted to keep want and need about your pension. It is a active and enjoyed the social aspects of work. (Source: chance for you to have your say. We
Statistics Canada) thank you in advance for providing us with your valuable feedback.
The OPB wants to know how it can serve you better. In the upcoming months, you may receive a call asking you to participate in an OPB telephone survey. We have asked Research Strategy Group to conduct these surveys on our behalf to find out how we can better meet your needs.
Will it affect your pension?
Interviewers will be contacting a random, representative group of PSPP members and pensioners
In December, the Ontario Government passed legislation that will end mandatory retirement in the province. Taking effect in December 2006, this legislation protects employees who are 65 and over from having to end their employment solely on the basis of their age. Until now, the
Human Rights Code had allowed employers to use this age limit to require older employees to retire from the workplace.
www.labour.gov.on.ca. If you have any questions about how this may affect your job, please contact your employer. And if you would like information about retirement and your PSPP pension, you can read our member guide,
Planning Today For Tomorrow .
You may be wondering whether this change in legislation will affect your pension. In short, the answer is “no”. In fact, the PSPP already allows members to contribute to, and earn credit in, the
Plan after age 65. Also, this change will not affect the unreduced early retirement programs (Factor
90, 60/20 and OPP 50/30) that are offered by the
PSPP. As in the past, you can choose to retire if you meet the age and service conditions needed to qualify for an unreduced pension.
Eliminating mandatory retirement simply means that your age will no longer be used to determine when you must stop working. As long as your employment continues, you can continue contributing to the
Did you know …By
2028, the Canadian population aged 65 and over will have doubled to 8 million, from 4 million in the year 2000. (Source:
Statistics Canada)
PSPP until November 30 of the year in which you reach age 69. To comply with the Income Tax Act (Canada), your pension must start by December of that year.
If you have any questions about the legislation, you can call the Ontario Ministry of Labour at 1-800-531-5551 or visit their website,
New booklet sets out what you should know
We can’t manage your pension without information about you. To determine when you can retire, or what you (or your survivors) can receive, we need to collect information about your salary, work history, birth date and family. Since its inception in
1990, the OPB has been protecting your personal information to ensure that it stays private, and we will continue to do so.
We have prepared a booklet,
Information
Protecting your Personal
, that outlines our privacy policy and answers questions you might have about how we use, collect and disclose your personal information.
A copy of this booklet is enclosed with this issue of the OPB News. It’s also available on our website.
We want you to understand your rights and our responsibilities under our privacy policy, so please take a few moments to read the booklet. Of course, if you have any questions regarding the policy or your personal information, please contact us.
3

2
To make sure that we comply with the income tax laws, we must ask you to contact us if you’re receiving a pension from an Ontario
Government agency. Please call Jean Bubba,
Employer Services Analyst, at 416-601-4026, and give us the name of your former employer and your former employer’s pension plan, so that we can confirm your eligibility.
What about non-related employers?
If you retired and are receiving a pension from an employer that is not related, you can join the PSPP while continuing to receive your pension. Non-related employers include the Municipal, Federal or another Provincial
Government, and the private sector.
How can we serve you better?
– you could be one of them. The phone interview takes about 20 minutes to complete and will ask you questions about your pension information needs, OPB service delivery, and what you think about the OPB in general (no personal information will be requested). You can ask the surveyor to call you at another time, if you want to first confirm their identity with us.
If you receive a call, please share your thoughts.
While the decision to participate is – of course – up to you, keep in mind
Did you know that …in a study of people age 50+ that the comments we receive help us assess who retired between 1992 and 2002, one in five our service delivery to you – to ensure returned to some form of paid work? Most retirees
(38%) returned for financial you are getting the information you reasons, but many people
(19%) just wanted to keep want and need about your pension. It is a active and enjoyed the social aspects of work. (Source: chance for you to have your say. We
Statistics Canada) thank you in advance for providing us with your valuable feedback.
The OPB wants to know how it can serve you better. In the upcoming months, you may receive a call asking you to participate in an OPB telephone survey. We have asked Research Strategy Group to conduct these surveys on our behalf to find out how we can better meet your needs.
Will it affect your pension?
Interviewers will be contacting a random, representative group of PSPP members and pensioners
In December, the Ontario Government passed legislation that will end mandatory retirement in the province. Taking effect in December 2006, this legislation protects employees who are 65 and over from having to end their employment solely on the basis of their age. Until now, the
Human Rights Code had allowed employers to use this age limit to require older employees to retire from the workplace.
www.labour.gov.on.ca. If you have any questions about how this may affect your job, please contact your employer. And if you would like information about retirement and your PSPP pension, you can read our member guide,
Planning Today For Tomorrow .
You may be wondering whether this change in legislation will affect your pension. In short, the answer is “no”. In fact, the PSPP already allows members to contribute to, and earn credit in, the
Plan after age 65. Also, this change will not affect the unreduced early retirement programs (Factor
90, 60/20 and OPP 50/30) that are offered by the
PSPP. As in the past, you can choose to retire if you meet the age and service conditions needed to qualify for an unreduced pension.
Eliminating mandatory retirement simply means that your age will no longer be used to determine when you must stop working. As long as your employment continues, you can continue contributing to the
Did you know …By
2028, the Canadian population aged 65 and over will have doubled to 8 million, from 4 million in the year 2000. (Source:
Statistics Canada)
PSPP until November 30 of the year in which you reach age 69. To comply with the Income Tax Act (Canada), your pension must start by December of that year.
If you have any questions about the legislation, you can call the Ontario Ministry of Labour at 1-800-531-5551 or visit their website,
New booklet sets out what you should know
We can’t manage your pension without information about you. To determine when you can retire, or what you (or your survivors) can receive, we need to collect information about your salary, work history, birth date and family. Since its inception in
1990, the OPB has been protecting your personal information to ensure that it stays private, and we will continue to do so.
We have prepared a booklet,
Information
Protecting your Personal
, that outlines our privacy policy and answers questions you might have about how we use, collect and disclose your personal information.
A copy of this booklet is enclosed with this issue of the OPB News. It’s also available on our website.
We want you to understand your rights and our responsibilities under our privacy policy, so please take a few moments to read the booklet. Of course, if you have any questions regarding the policy or your personal information, please contact us.
3

4
Q: How is my pension adjusted for inflation if I retire mid-year?
Throughout the month of October, the OPB held
Open House sessions across Ontario – in Guelph,
Kingston, London, Sudbury and Toronto. These informal, interactive sessions were a huge success.
More than 600 PSPP members either dropped by the OPB booth in the morning, or sat in on the more detailed lunch-hour presentations. For those of you who did get a chance to drop by or attend a session, thank you. It was a valuable experience for us to get your feedback, comments and questions. If you were unable to attend the Open House in your area, we will be holding these sessions again in 2006, so keep an eye out for registration information.
A: The annual adjustment for inflation is made on
January 1 and is based on changes to the Consumer
Price Index (CPI). If your pension begins during the year the adjustment you receive will be prorated to reflect the number of months in the year you were on pension. Different rules apply if you leave the
PSPP and take a deferred (future) pension. Please call us if you would like to know how a deferred pension is adjusted for inflation.
Q: Will Surplus Factor 80 be extended beyond
March 31, 2006?
At the sessions, certain issues kept popping up.
Here is a list of the most frequently asked questions, complete with answers.
Q: I am separating from my spouse. Do I need to contact the OPB?
A: The current Surplus Factor 80 program will end March 31, 2006. This means that members receiving a surplus notice after the deadline will not be able to qualify for the program. The decision to extend the program, as is the case with any PSPP design decision, is made by the sole plan sponsor, the Ontario Government.
A: Yes. If splitting the pension is something you and your spouse are considering, then it is important that you inform us. Your pension is an asset, just like your home. For many people, a pension entitlement is the largest, or one of the largest, assets of the marriage. We will need a copy of your separation agreement, divorce documents, court orders and prenuptial agreement, if applicable, to administer your pension.
Q: What is “CPP Integration”?
Q: What are we investing in?
A: The OPB investment strategy is conservative, disciplined, and long-term. We focus on capital preservation and generating the reliable cash flows needed to secure our current and future retirees’ pensions. Our investment portfolio consists of three categories: marketable securities (65.1%), special province of Ontario debentures (23.8%), and real estate and participating mortgages (10.8%). This asset mix has produced an average annual rate of return of 10.36% since inception. For more information, please read the 2004 Annual Report .
A: Canada Pension Plan (CPP) Integration is an adjustment to your pension, made when you reach age 65. It’s only based on your years and months of pension credit in the PSPP since 1966, to a maximum of 35 years, when the CPP began. For an in-depth discussion of CPP Integration, please read
CPP Integration: How It Works With Your PSPP
Pension .
Q: When and how do I apply for the early unreduced pension under the Factor 90 program?
A: Whether it’s Factor 90, 60/20, or OPB 50/30, we generally suggest that you contact your Human
Resources office, or the OPB, at least 6 months before your retirement date. Starting the process early will ensure that you have time to complete the forms and compile any documents that we need to get your pension payments started. You can also request a personal pension estimate, to get a better idea of what to expect from the PSPP. All forms must be completed and submitted to the OPB
3 months before your retirement. If you’re close to retiring, give us a call – we would be happy to talk with you.
Naming a beneficiary
If you were living with your spouse at the time of your death, your spouse is automatically eligible to receive your pension – you don’t need to specifically name him or her as a beneficiary. The Beneficiary
Designation Form lets you choose who is to get a benefit if you don’t have an eligible spouse. In fact, if you want your children to receive this benefit, you must name them as your beneficiary.
Remember, the OPB is always available to come and talk about the PSPP. If you would like the OPB to visit your workplace, please visit our website, www.opb.on.ca, for details about how to request a visit. Or you can call us at 416-364-5035, or toll free at 1-800-668-6203.
Common examples of other beneficiaries include parents, siblings or charitable organizations. You can also name your estate as your beneficiary. In fact, if you don’t name beneficiaries, your benefit goes to your estate by default. However, naming your beneficiaries with us can save them time and money. There will be less paperwork and no estate fees if your beneficiaries receive the benefit from the OPB directly instead of through your estate.
Let us know who your beneficiaries are
– it could save them time and money
To name or change your beneficiaries, please fill out a Beneficiary Designation Form, which is available on our website or from your employer.
When you contribute to the PSPP, you’re not just investing in your pension, you’re providing some security for your loved ones. In the event of your pre-retirement death, the Plan will pay a benefit to your survivors or beneficiaries. Death benefits are paid in a specific order. An eligible spouse is ‘first in line’ for a benefit, followed by your beneficiaries, and, finally, your estate.
Paying a beneficiary
If you have completed a
Form us with proof of their identity. If you have named more than one beneficiary, the payment will be split equally among them.
Beneficiary Designation
, the process is straightforward. To receive the benefit, your named beneficiary simply provides
Estate planning can be complex, so you should consider all of your options when making a decision. A financial advisor can help you figure out where your pension benefit fits into your estate planning. Some of the issues and considerations are outlined below. For more information on death benefits, you can contact us.
Paying the estate
If you didn’t fill out a Beneficiary Designation Form
– or you named your estate as beneficiary – the benefit will go to your estate and be distributed from there, by your estate trustee (with or without a will).
5

4
Q: How is my pension adjusted for inflation if I retire mid-year?
Throughout the month of October, the OPB held
Open House sessions across Ontario – in Guelph,
Kingston, London, Sudbury and Toronto. These informal, interactive sessions were a huge success.
More than 600 PSPP members either dropped by the OPB booth in the morning, or sat in on the more detailed lunch-hour presentations. For those of you who did get a chance to drop by or attend a session, thank you. It was a valuable experience for us to get your feedback, comments and questions. If you were unable to attend the Open House in your area, we will be holding these sessions again in 2006, so keep an eye out for registration information.
A: The annual adjustment for inflation is made on
January 1 and is based on changes to the Consumer
Price Index (CPI). If your pension begins during the year the adjustment you receive will be prorated to reflect the number of months in the year you were on pension. Different rules apply if you leave the
PSPP and take a deferred (future) pension. Please call us if you would like to know how a deferred pension is adjusted for inflation.
Q: Will Surplus Factor 80 be extended beyond
March 31, 2006?
At the sessions, certain issues kept popping up.
Here is a list of the most frequently asked questions, complete with answers.
Q: I am separating from my spouse. Do I need to contact the OPB?
A: The current Surplus Factor 80 program will end March 31, 2006. This means that members receiving a surplus notice after the deadline will not be able to qualify for the program. The decision to extend the program, as is the case with any PSPP design decision, is made by the sole plan sponsor, the Ontario Government.
A: Yes. If splitting the pension is something you and your spouse are considering, then it is important that you inform us. Your pension is an asset, just like your home. For many people, a pension entitlement is the largest, or one of the largest, assets of the marriage. We will need a copy of your separation agreement, divorce documents, court orders and prenuptial agreement, if applicable, to administer your pension.
Q: What is “CPP Integration”?
Q: What are we investing in?
A: The OPB investment strategy is conservative, disciplined, and long-term. We focus on capital preservation and generating the reliable cash flows needed to secure our current and future retirees’ pensions. Our investment portfolio consists of three categories: marketable securities (65.1%), special province of Ontario debentures (23.8%), and real estate and participating mortgages (10.8%). This asset mix has produced an average annual rate of return of 10.36% since inception. For more information, please read the 2004 Annual Report .
A: Canada Pension Plan (CPP) Integration is an adjustment to your pension, made when you reach age 65. It’s only based on your years and months of pension credit in the PSPP since 1966, to a maximum of 35 years, when the CPP began. For an in-depth discussion of CPP Integration, please read
CPP Integration: How It Works With Your PSPP
Pension .
Q: When and how do I apply for the early unreduced pension under the Factor 90 program?
A: Whether it’s Factor 90, 60/20, or OPB 50/30, we generally suggest that you contact your Human
Resources office, or the OPB, at least 6 months before your retirement date. Starting the process early will ensure that you have time to complete the forms and compile any documents that we need to get your pension payments started. You can also request a personal pension estimate, to get a better idea of what to expect from the PSPP. All forms must be completed and submitted to the OPB
3 months before your retirement. If you’re close to retiring, give us a call – we would be happy to talk with you.
Naming a beneficiary
If you were living with your spouse at the time of your death, your spouse is automatically eligible to receive your pension – you don’t need to specifically name him or her as a beneficiary. The Beneficiary
Designation Form lets you choose who is to get a benefit if you don’t have an eligible spouse. In fact, if you want your children to receive this benefit, you must name them as your beneficiary.
Remember, the OPB is always available to come and talk about the PSPP. If you would like the OPB to visit your workplace, please visit our website, www.opb.on.ca, for details about how to request a visit. Or you can call us at 416-364-5035, or toll free at 1-800-668-6203.
Common examples of other beneficiaries include parents, siblings or charitable organizations. You can also name your estate as your beneficiary. In fact, if you don’t name beneficiaries, your benefit goes to your estate by default. However, naming your beneficiaries with us can save them time and money. There will be less paperwork and no estate fees if your beneficiaries receive the benefit from the OPB directly instead of through your estate.
Let us know who your beneficiaries are
– it could save them time and money
To name or change your beneficiaries, please fill out a Beneficiary Designation Form, which is available on our website or from your employer.
When you contribute to the PSPP, you’re not just investing in your pension, you’re providing some security for your loved ones. In the event of your pre-retirement death, the Plan will pay a benefit to your survivors or beneficiaries. Death benefits are paid in a specific order. An eligible spouse is ‘first in line’ for a benefit, followed by your beneficiaries, and, finally, your estate.
Paying a beneficiary
If you have completed a
Form us with proof of their identity. If you have named more than one beneficiary, the payment will be split equally among them.
Beneficiary Designation
, the process is straightforward. To receive the benefit, your named beneficiary simply provides
Estate planning can be complex, so you should consider all of your options when making a decision. A financial advisor can help you figure out where your pension benefit fits into your estate planning. Some of the issues and considerations are outlined below. For more information on death benefits, you can contact us.
Paying the estate
If you didn’t fill out a Beneficiary Designation Form
– or you named your estate as beneficiary – the benefit will go to your estate and be distributed from there, by your estate trustee (with or without a will).
5

6
Before we can pay the estate, the beneficiaries may have to apply for a Certificate of Estate Trustee, or ‘probate’. This is a document that authorizes the estate trustee to distribute the estate. Each beneficiary must complete an Application for
Certificate of Appointment of Estate Trustee , have it signed by a Commissioner or someone who is authorized to sign an affidavit (such as a lawyer), and file it with an Ontario Court. The Court will charge your beneficiaries a fee for this service, based on the total amount of the estate.
when it will be adjusted for inflation, what happens at age 65 with CPP integration, and the survivor pension options for your spouse. You can also access our online retirement calculator, which will show you the ‘big picture’ by estimating what you will receive from the PSPP and other retirement income sources.
Is retirement far away? Review your
Annual Pension Statement
Pension estimates help you look into your future
The Annual Pension Statement (APS) is mailed to all active members. Your APS provides you with three estimates of your pension: one based on
December 31 of the prior year, one assuming earliest unreduced early retirement, and one assuming you will retire at age 65. The statement also shows you: how the estimates were calculated, how much you have contributed, your family and beneficiary information, and, if our records show that you have a spouse, the cost of each survivor pension option.
As a PSPP member, time is on your side. Your pension is an investment that increases in value the longer you pay into it.
The PSPP is a defined benefit plan, so you can take comfort knowing that your PSPP retirement income is secure. Your pension is not affected by market changes nor is it based on your contributions. It is determined by a formula that uses your salary
(the average of your best 5 consecutive years) and pension credit (the time you’ve paid into the Plan).
Your pension is payable from the day you retire until the day you die. It is adjusted annually for inflation.
And in the event of your death, a benefit will be paid to your eligible survivors or beneficiaries.
The APS is mailed every June. If you’re moving, don’t forget to give us your new address!
Thinking of retiring in the next 5 years?
Ask for a Pension Estimate
If you have a date in mind – or you’re close to early retirement – you can request an estimate of your pension as of a specific month and year and/or at your early retirement date.
To help you look ahead, we provide pension estimates that explain when your pension will be paid,
Pension Estimates are available by written request.
Include your name, address, Client Number, and your proposed retirement date(s).
Want to see the ‘big picture’? Use our online Retirement Planner
Tony worked for the CAW, where he had held numerous positions since 1985, including National
Representative (Pension and Benefits) and Executive
Director of the union’s Social Justice Fund.
Our website has a retirement calculator that estimates your benefit from the PSPP and other sources, such as CPP, RRSPs, GIC, OAS and your personal savings.
After you log in, just enter the information requested
(to estimate your PSPP pension), list the value of your RRSPs and personal savings, and the proposed retirement date. The calculator will do the rest.
Passings
We were saddened by the recent passing of our friends Mr. William H. Somerville, former Chair of the OPB, and Mr. Patrick Vernon, Chair of the
Human Resources Committee.
Should I base my decision to retire on the estimates?
The estimates should be used only as a guide. As mentioned, your pension is based on your salary and pension credit, both of which are subject to change.
However, we encourage you to take advantage of these services. Looking ahead can help bring your retirement goals in focus.
William Somerville was appointed Chair of OPB in 1990. One of his first tasks was to oversee the transfer of administration of the PSPP from the
Ontario Government to the newly created OPB.
With the transition completed in early 1991,
Mr. Somerville turned his attention to the challenge of building the Fund, to make sure it could meet the
PSPP’s current – and future – pension obligations.
He will be remembered for his efforts in guiding the PSPP from an initial deficit of $2.5 billion to a surplus of $335 million by the time he retired in
December 2000.
New appointee
We are pleased to welcome Anthony Wohlfarth to our
Board of Directors. Tony has a strong background in labour relations, having completed a Masters’ degree in Industrial and Labour Relations from Cornell
University. Currently, he is a National Representative in the Pension and Benefits Department of the
Canadian Auto Workers (CAW) - Canada. From
2000 to 2005, he served as the Commissioner
(Workers) with the Canadian Employment Insurance
Commission (CEIC). Prior to joining the CEIC
Patrick Vernon was appointed to the Board in
October 2001. As an associate counsel with
McCarthy Tetrault LLP, he brought a broad range of legal and financial experience to the OPB. Mr.
Vernon contributed extensively to the Board, particularly in the area of governance. His efforts ensure that OPB is well governed and positioned to serve the interests of all the Plan’s beneficiaries.
We gratefully acknowledge their contributions and extend our sincerest condolences to their families.
7

6
Before we can pay the estate, the beneficiaries may have to apply for a Certificate of Estate Trustee, or ‘probate’. This is a document that authorizes the estate trustee to distribute the estate. Each beneficiary must complete an Application for
Certificate of Appointment of Estate Trustee , have it signed by a Commissioner or someone who is authorized to sign an affidavit (such as a lawyer), and file it with an Ontario Court. The Court will charge your beneficiaries a fee for this service, based on the total amount of the estate.
when it will be adjusted for inflation, what happens at age 65 with CPP integration, and the survivor pension options for your spouse. You can also access our online retirement calculator, which will show you the ‘big picture’ by estimating what you will receive from the PSPP and other retirement income sources.
Is retirement far away? Review your
Annual Pension Statement
Pension estimates help you look into your future
The Annual Pension Statement (APS) is mailed to all active members. Your APS provides you with three estimates of your pension: one based on
December 31 of the prior year, one assuming earliest unreduced early retirement, and one assuming you will retire at age 65. The statement also shows you: how the estimates were calculated, how much you have contributed, your family and beneficiary information, and, if our records show that you have a spouse, the cost of each survivor pension option.
As a PSPP member, time is on your side. Your pension is an investment that increases in value the longer you pay into it.
The PSPP is a defined benefit plan, so you can take comfort knowing that your PSPP retirement income is secure. Your pension is not affected by market changes nor is it based on your contributions. It is determined by a formula that uses your salary
(the average of your best 5 consecutive years) and pension credit (the time you’ve paid into the Plan).
Your pension is payable from the day you retire until the day you die. It is adjusted annually for inflation.
And in the event of your death, a benefit will be paid to your eligible survivors or beneficiaries.
The APS is mailed every June. If you’re moving, don’t forget to give us your new address!
Thinking of retiring in the next 5 years?
Ask for a Pension Estimate
If you have a date in mind – or you’re close to early retirement – you can request an estimate of your pension as of a specific month and year and/or at your early retirement date.
To help you look ahead, we provide pension estimates that explain when your pension will be paid,
Pension Estimates are available by written request.
Include your name, address, Client Number, and your proposed retirement date(s).
Want to see the ‘big picture’? Use our online Retirement Planner
Tony worked for the CAW, where he had held numerous positions since 1985, including National
Representative (Pension and Benefits) and Executive
Director of the union’s Social Justice Fund.
Our website has a retirement calculator that estimates your benefit from the PSPP and other sources, such as CPP, RRSPs, GIC, OAS and your personal savings.
After you log in, just enter the information requested
(to estimate your PSPP pension), list the value of your RRSPs and personal savings, and the proposed retirement date. The calculator will do the rest.
Passings
We were saddened by the recent passing of our friends Mr. William H. Somerville, former Chair of the OPB, and Mr. Patrick Vernon, Chair of the
Human Resources Committee.
Should I base my decision to retire on the estimates?
The estimates should be used only as a guide. As mentioned, your pension is based on your salary and pension credit, both of which are subject to change.
However, we encourage you to take advantage of these services. Looking ahead can help bring your retirement goals in focus.
William Somerville was appointed Chair of OPB in 1990. One of his first tasks was to oversee the transfer of administration of the PSPP from the
Ontario Government to the newly created OPB.
With the transition completed in early 1991,
Mr. Somerville turned his attention to the challenge of building the Fund, to make sure it could meet the
PSPP’s current – and future – pension obligations.
He will be remembered for his efforts in guiding the PSPP from an initial deficit of $2.5 billion to a surplus of $335 million by the time he retired in
December 2000.
New appointee
We are pleased to welcome Anthony Wohlfarth to our
Board of Directors. Tony has a strong background in labour relations, having completed a Masters’ degree in Industrial and Labour Relations from Cornell
University. Currently, he is a National Representative in the Pension and Benefits Department of the
Canadian Auto Workers (CAW) - Canada. From
2000 to 2005, he served as the Commissioner
(Workers) with the Canadian Employment Insurance
Commission (CEIC). Prior to joining the CEIC
Patrick Vernon was appointed to the Board in
October 2001. As an associate counsel with
McCarthy Tetrault LLP, he brought a broad range of legal and financial experience to the OPB. Mr.
Vernon contributed extensively to the Board, particularly in the area of governance. His efforts ensure that OPB is well governed and positioned to serve the interests of all the Plan’s beneficiaries.
We gratefully acknowledge their contributions and extend our sincerest condolences to their families.
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Ask us first!
The OPB is the administrator of the PSPP. This means that we’re responsible for paying your pension, collecting and investing your contributions, and keeping you informed about your Plan.
Your questions are always welcome. Please don’t hesitate to call, write, e-mail or visit us.
Keep it confidential!
E-mail is a quick and convenient way to contact us, but remember that messages sent over the Internet are not secure!
You should never send us personal information in an e-mail.
We will never send you an e-mail that contains personal information OR ask you to send us personal information via e-mail.
Moving? Let us know!
If you’ve changed your address (or are about to), we need to know. Please send us your new address by completing and returning the information below, so we can continue to keep you informed about your pension. Incorrect address information could mean important OPB correspondence will not reach you, including your 2005 Annual Pension
Statement which will be mailed out in June.
Address change
Name:
Client Number:
New address:
City
Effective date of change:
Province
Signature:
Postal Code
1 Adelaide Street East, Suite 1100
Toronto, Ontario M5C 2X6
Phone: 416-364-5035 or
Toll-free: 1-800-668-6203 (Canada & U.S.A.)
Fax: 416-364-7578 www.opb.on.ca