Did you turn 65?

July 22, 2015

June was the month with the highest number of retired members celebrating their 65th birthday.

Were you one of them?

If so, your Teachers' pension will be reduced this month (July) to reflect its integration with the Canada Pension Plan. If you are collecting a CPP disability pension, then this reduction would have already taken effect.

Here are three key things to remember about CPP integration:

  1. While you were working and contributing to CPP, your Teachers' contributions were reduced to allow you to keep more of your take-home pay when you likely had more expenses (mortgage, children, post-secondary tuition, etc.).
  2. The reduction will occur the month after you turn 65, even if you chose to collect CPP earlier or defer it to when you are older.
  3. The reduction is calculated by a formula. In most cases, the reduction is less than your CPP benefit.

Sign in to your secure Ontario Teachers' account to see the exact amount of your CPP reduction.