First pension payment

July 28, 2017

If you’re one of the more than 3,000 teachers who retired at the end of the 2016-17 school year, you’ve likely got a good idea of just how much you’ll be receiving from month to month.

But, sometimes there are still little surprises, despite the research you did when deciding when to retire.

To help take the mystery out of your first pension payment, here are three things you need to know:

  1. Your Ontario Teachers’ payment is always paid on the last business day of each month. If your pension started on July 1, then you’ll receive your first pension payment on Monday, July 31. Check here for a list of 2017 pension pay days.

  2. You can sign in to your online account and view the details of your deposit up to five business days in advance of your monthly pension payment.

  3. If you opted for supplementary medical coverage, you may not see a deduction until your August pension payment.