Countdown to retirement: six months to go
December 21, 2011
It's a new year, and that June retirement date is right around the corner. Are you on track for your retirement?
Six to four months before your retirement
- Make sure you've completed all the necessary steps to prepare for the next six months.
Check out Get Ready to Retire to ensure you've completed any buybacks or transfers, chosen a survivor benefit and sent all of your required documents to us.
- Check your personal pension information.
Sign in to iAccess Web to check your service record for completeness and accuracy. You should also confirm your estimated pension, contact information and survivor pension options.
- Decide whether you want supplementary medical insurance.
Teachers' is not in a position to provide medical benefits to pensioners, so you may want to consider buying supplementary medical coverage. Many teachers choose to continue with insurance through their school board.
There are also three independent plans that provide supplemental health coverage to pensioners. One is offered by Retired Teachers of Ontario (RTO/ERO) through Johnson Inc. and two are offered by the Ontario Teachers' Insurance Plan (OTIP). Premiums for these plans can be deducted from your pension payment.
Contact your insurance representative directly for details or to arrange coverage.