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.

If you're not eligible for an unreduced pension by the time you want to leave teaching, you can take a reduced retirement pension when you are at least 50 years old. Your reduced pension is calculated just like your basic pension, and then reduced by the appropriate percentage for your situation.

Immediate reduced pension

If you begin your pension the month after you stop working, your basic annual pension will be reduced by: 

  • 2.5% for each point you're away from your 85 factor; or
  • 5% for each year you're under age 65, whichever is less.

Deferred pension

If you don't begin your pension the month after you stop working, your basic annual pension will be reduced. The amount of the reduction depends on when your last employment occurs, and the age you are when it does.

  • Before January 1, 2018, regardless of age – the reduction is 5% for each point you’re under your 85 factor or age 65, whichever is less.
  • On or after January 1, 2018, and age 50 or older – the reduction is 2.5% for each point you're under your 85 factor or age 65, whichever is less.

When to contact us

If you leave your pension with Ontario Teachers', contact us at least three months before you want your pension to begin.