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Life & Career Events

Adjustments to Your Pension

Depending on your personal situation, your pension may be adjusted for one or more of the following reasons.

Survivor pension

Your eligible spouse may receive anywhere from 50-75% of your CPP-adjusted pension. They'll automatically receive 60% of your CPP-adjusted pension, unless you tell us otherwise prior to receiving your first pension payment. You can increase your survivor pension up to 75% or decrease it to 50% before you retire. You can change your option, but once you receive your first pension payment, it becomes irrevocable.

Your pension will be reduced slightly to provide for a survivor pension higher than 50%. The reduction to your pension depends on the age of you and your eligible spouse, and the survivor pension option you choose.

The reduction for a survivor pension is permanent during your lifetime on pension, even if your eligible spouse dies before you or if you separate or divorce after receiving your first pension payment.

Cost of your survivor benefit

Sign in to your Ontario Teachers' account to see the estimated reduction to your projected annual pension and the corresponding survivor pension for the various options.

10-year pension guarantee

If you die before you've received 10 years' worth of pension payments, a 10-year pension guarantee is available for a nominal lifetime reduction to your pension or at no cost if you don't have an eligible spouse when you start receiving your pension.

Integration with CPP

The Ontario Teachers' Pension Plan is designed to work together with the Canada Pension Plan (CPP). We provide a bridge benefit, which is intended to supplement your retirement income until age 65 when you're eligible for an unreduced CPP pension. The month after you turn 65, or immediately if you start a CPP disability pension, the bridge benefit ends and your pension is adjusted.

Early retirement

If you're not eligible for an unreduced pension by the time you want to retire, you can take a reduced retirement pension. This type of pension falls into two categories: immediate reduced pension or deferred pension.

Partial disability

If you become disabled while employed in education, you may be eligible for a one of two types of disability pensions: full disability pension or a partial disability pension.

Family Law Value (separation or divorce)

Your pension will be reduced if you and your spouse separated or divorced before you retired and you chose to use your pension to settle your equalization obligation.

ITA purchase limit

The Income Tax Act (ITA) limits the improvement to your pension for each year of credit you buy back. If you exceed this limit, the reduction will be reflected in your pension calculation.

Getting you ready for retirement

Whether you’re one month or a few years away, you'll need to prepare before hitting “submit” on your pension application. Here's how you can prepare for your moment.