What's the deal with your January pension?

January 21, 2015

You're likely getting back to normal after the bustle of the holiday season, but your January pension statement may have a few more changes in store for you.

Here's what to watch for:

  1. 2015 inflation adjustment is applied. The base 2015 adjustment is 1.7%. You can learn more about the adjustment or sign in to your Teachers' secure account to view a personalized video to see exactly how it will affect your Teachers' pension.   
  2. Retired Teachers of Ontario (RTO) fee deduction. If you're a member of the RTO, your fees are deducted once a year, in January.
  3. Health insurance premiums. If you subscribe to a health insurance plan through the RTO (Johnson's), or Ontario Teachers' Insurance Plan (OTIP), premiums are often adjusted in December or January for these plans (premiums are deducted each month).

If you have any questions about the RTO fee or your insurance premiums, please contact the respective organization directly.

Did you turn 65 in December? If yes, your Teachers' pension will be reduced in January to reflect integration with the Canada Pension Plan (CPP). If you're collecting a CPP disability pension, this reduction has already been applied. Learn more here.