Ontario Teachers' Pension Plan
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Pension = 2% x years of credit x 'best-five' average salary

  Joining the Plan
You automatically become a member of the Teachers' pension plan and begin to accrue credit when your employer deducts pension contributions from your pay.

You qualify as a member if you have a Certificate of Qualification or current Letter of Permission and work:
in any capacity for a school board in Ontario;
in a designated capacity for a designated organization, such as a teachers' federation, which participates in the plan under a special agreement; or
as a teacher or in some administrative positions
- under an authorized exchange program;
- for a designated private school;
- for an Ontario government ministry; or
- for the Metropolitan Toronto and Region Conservation Authority.

 
 
  Designated employer rules change Sept. 1, 2008
All qualified teachers who begin working for a designated private school or designated organization after Aug. 31, 2008, will be required to join the Teachers’ pension plan.

Qualified teachers who are already employed at a designated employer, but are ineligible to join the pension plan under current rules, will automatically become members Sept. 1, 2008, unless they exercise a one-time opportunity to opt out. To opt out, qualified employees must sign a waiver form before Dec. 1, 2008. The form will be available from employers in late spring.

 
   
   
  If you have any questions, please contact us.  
   

       
  Posted February 2008 TOP  
       

 
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