Get Buying Credit For Other Employment - Ontario Teachers Pension Plan

If you're over 65 when you return to work, you have an option to either rejoin the Plan or not. If you rejoin the Plan, your pension payments will stop until you end your employment, or in December of the year you turn 71 if earlier.

On March 4, 2024, OTF received a letter from the Minister of Education requesting support for an amendment to the 50-day rule, extending it to 95 days to allow some retired teachers and administrators to continue working without impacting their pension.

The average teacher now retires at the age of 58, with an annual pension of around $46,000 (ing to OTPP). This retirement amount may not be enough for teachers who may not have sufficient retirement savings. Your pension will reduce by about 10% at age 65.

You can work directly or indirectly for a participating employer for 50 days in each school year you work following retirement without interrupting your pension.

Ontario Teachers Pension Plan Board's top holdings are GFL Environmental Inc. (CA:GFL) , Microsoft Corporation (US:MSFT) , Alphabet Inc. (US:GOOGL) , Chubb Limited (US:CB) , and Morgan Stanley (US:MS) . Ontario Teachers Pension Plan Board's new positions include SPDR Series Trust - SPDR S&P Retail ETF (US:XRT) , CONV.

Keep your pension with us If you terminate your membership in the pension plan on or after July 1, 2012, you automatically qualify for a future pension. You become eligible for an unreduced pension when you reach: your 85 factor (age + qualifying years), or. age 65.

The Ontario Teachers' Federation says it has ``reluctantly'' agreed over the last three years to let retired teachers work for 95 days a year instead of 50 to address lingering effects from the COVID-19 pandemic.

960-hour limit Retirees may continue to receive their retirement benefit if they meet the break-in-service requirements above and their extra help employment with all SCERA-covered employers does not exceed a total (for all employers in that public retirement system) of 960 hours per Government Code section 7522.56.