Member Help Centre

If you tell us you intend to pay for your leave before the deadline, you won’t need approval from the Canada Revenue Agency (CRA).

We’ll calculate a pension adjustment (PA) for each calendar year of your leave. This will reduce your RRSP contribution room, whether you pay for all, some or none of your leave. If the amount of your PA is greater than your RRSP contribution room, your contribution room will go to zero the following calendar year.

If you missed the deadline and still want to pay for your leave:

1. Call us at 1-800-668-0105 to tell us you’d like to pay.
2. We’ll prepare what’s called a past service pension adjustment (PSPA) and submit it to the CRA for approval. The CRA will compare the amount of this PSPA to your available RRSP contribution room.

If your RRSP contribution room is greater than the value of your PSPA, they’ll likely approve the PSPA. We’ll send you a letter to let you know.

If your RRSP contribution room is less than the value of your PSPA, they likely won’t approve the PSPA and will send you a letter to let you know. You’ll need to call us so we can talk about your options (make sure to have your letter from the CRA with you when you call). We may need to refund payments you've made for your leave.

If your PSPA is less than your RRSP contribution room:

• You’ll have enough contribution room to pay for your leave.
• The CRA will reduce your contribution room by the size of your PSPA and you can go ahead and pay.

If your PSPA is greater than your RRSP contribution room:

• You may have still some wiggle room. You can generally go over your RRSP contribution room by up to $8,000 before the CRA will deny your PSPA.
• If the CRA doesn’t approve your PSPA and you want to pay for at least a portion of your leave, consult a professional financial advisor to discuss your options.

It depends on how you pay.

Paying in cash (online or by cheque)

When you pay with personal, non-registered funds – whether online or by cheque – you’re eligible for a tax deduction. This deduction can potentially reduce your taxable income.

You’ll receive a tax receipt in February for payments you made in the previous calendar year. You can use the information on this receipt to apply the deduction when you file your taxes. Keep in mind, you can only apply it to the year in which you made your payments.

Your ability to deduct the full cost of your leave will depend on your taxable income in the year you make your payments. If the cost is greater than your taxable income, for example, you won’t be able to deduct the full amount.

If you pay in cash:

• You’ll receive a tax receipt to claim a deduction when you file your taxes.
• You can’t carry forward non-deducted amounts to the following tax year.
• There may be a greater tax benefit by paying in cash once you’ve returned to work and your taxable income is possibly higher.
• It’s a good idea to consult a professional financial advisor about the optimal timing of cash payments.

Paying with RRSPs

When you pay with RRSPs, you’re moving funds from one kind of tax-sheltered retirement plan to another. As a result, you aren’t eligible for the same tax deduction had you paid in cash.

If you pay with RRSPs: 

• There’s no tax deduction.
• You don’t regain RRSP contribution room.
• Your financial institution may charge you administration fees.
• You can’t withdraw the funds from your pension later. Once you transfer RRSP funds, you won’t see them again until you retire.

Your heirs could save time and money. Funds are paid directly to the beneficiary, without the delays or probate fees associated with the processing of an estate. Estate taxes are also avoided, although your heirs will pay tax on your death benefit. Review information on your pre-retirement death benefits.

You can apply online up to four months before your pension start date. For example, if you're retiring in June, you can apply as early as March 1. Keep in mind, you should apply for your pension no later than the month following your last date of employment. Review your retirement checklist.

You can easily retrieve your account number or reset your password.

To reset your password, you’ll need to sign in with your account number or email address associated with your account. When you're prompted to enter your password, click ‘Forgot password?’. You'll receive an email with instructions on creating a new password.

Any re-employment for which you’re entitled to compensation counts toward the re-employment limit. This includes any re-employment done directly or indirectly on an employment, self-employment or third-party basis for an employer who participates in the plan.

If you work as a volunteer and the position or duty is normally compensated, you and your employer can’t forgo payment to circumvent re-employment rules.

Yes. Since you exceeded the 50-day limit in April, you can work until the end of April without affecting your pension. If you plan to work any additional days of the same school year, you must notify us and we’ll suspend your pension.

The tax we deduct varies, based on government requirements and the information you provided, either at retirement or after. When calculating your deductions, we assume that your Ontario Teachers’ pension is your only source of income and that you qualify for the Basic Personal Exemption, unless you tell us otherwise (by submitting a TD1). Government tax tables can change as often as every six months. If a change affects your pension, we’ll notify you.

You can review or increase the amount of tax deducted from your pension by signing in to your account.

Your bridge benefit will end in the month of your 65ᵗʰ birthday and your pension will be adjusted in January. Why? We provide a bridge benefit, which is intended to supplement your retirement income until age 65 when you’re eligible for an unreduced pension from CPP. If you’ve told us you’re collecting a CPP disability pension, we’ve already adjusted your pension.

If you subscribe to a health insurance plan through the RTOERO (Johnson’s) or Ontario Teachers’ Insurance Plan (OTIP), rates are often adjusted in December or January. Other than deducting premiums each month, we don’t administer your health insurance plan. If you have questions about your coverage or premiums, please contact your health insurance plan directly.