Occasional and new teachers
May 29, 2017
Even if you’re still working towards a full-time, permanent gig know that every little bit of time you spend in the classroom counts towards your retirement.
May is a popular month for new members to sign their first contracts and kick off their teaching careers. For many, the first years teaching will be on an occasional basis. But even if you’re working towards that full-time permanent gig, you should know that every little bit of time you spend in the classroom counts towards your retirement.
Fiction: You have to have a full-time, permanent position before you can contribute to your pension.
Fact: If you’re certified by the Ontario College of Teachers and work for a participating employer, you’re vested. Once you work more than 10 days in a school year for a participating employer, you’ve earned a qualifying year of credit.
Fiction: Only teaching jobs count towards my pension.
Fact: If you’re certified by the Ontario College of Teachers, any income you earn from a participating employer, even as a custodian, will help you to build credit in our pension plan. So, consider taking any job you can get in those first years. It all adds up.
Fiction: You can only work for one school board and contribute to the pension plan.
Fact: If you haven’t taught full-time during the school year, you can boost your credit in the plan by teaching summer school or doing some admin work for one of our participating employers. Or, maybe you teach on an occasional basis for more than one board? That’s okay too. The more experience and exposure you get, the better your chances of landing that full-time job could be, and the more credit you build in your pension plan.
Fiction: Occasional teachers can’t use the pension calculator in their online account.
Fact: Once you’ve got a year of service under your belt you can sign in and use our most popular tool. It’s never too early to start exploring different retirement scenarios and getting a sense of the role your pension will play in your finances.
Let’s connect! Register today for your Ontario Teachers’ online account. Call 1-800-668-0105, Monday to Friday, between 8 a.m. and 5:30 p.m. and we’ll set you up.