What's the scoop on your leave?
February 19, 2019
Did your leave end in 2018? Let us know by April 30 if you plan to pay for it or not. Check your email inbox for a message from us or sign in to your Ontario Teachers’ online account to tell us if you intend to pay.
Wondering how time you took away from the classroom might affect your retirement?
If you’re like a typical teacher, paying for a $10,000 leave could increase your pension by about $1,880 each year.
Most of our retired members collect a pension for around 30 years, so paying for that leave today could mean you’ll get as much as $56,000 more throughout your retirement.
We know there are a lot of factors that play into the decision to pay or not pay for a leave.
We designed ‘What’s the scoop on your leave?’ to give you a quick lowdown that’ll help you to make an informed decision. You’ll learn about your cost and payment options, the impact to your RRSP contribution room, important deadlines, and, of course, how a leave will affect your retirement.
Chances are you’re juggling a little one at home and are trying to get back into the groove of working. Finding the time to learn about your pension can seem daunting. We made sure the online experience is as close to fun as financial planning can get and the information is served up in bite-size, playful language.
When you have five minutes, head over to ‘What’s the scoop on your leave?’ to take a bite out of paying for your leave.