Earlier this year, the Ontario Teachers' Federation (OTF) and the Ontario government announced changes to the plan's re-employment provision. A clearer definition of re-employed pensioner became effective Sept. 1, 2010. The following become effective in 2012.
New 50-day limit
Beginning Sept. 1, 2012, you will be able to work directly or indirectly for a participating employer without affecting your Teachers' pension for up to 50 days in each school year you work following retirement. This single-tier limit means you'll only have one number to worry about if you become re-employed after retirement.
Under current limits, you can work after retirement without affecting your Teachers' pension for up to 95 days in each of the first three school years in which you return to work. After that, you can work 20 days each school year.
Employers to report re-employment service
Also, your employer will be required to report re-employment service beginning in the 2012/13 school year. Members will still be required to track their days and contact Teachers' if they exceed the new re-employment limit of 50 days.
The Ontario Teachers' Federation and the Ontario government are the plan's co-sponsors. They are jointly responsible for setting plan benefits and contribution levels. Any changes to re-employment rules must be made by the co-sponsors.
If you have specific questions about re-employment and the new rules, please call us or check out the