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Use this calculator to get an estimated cost for buying back service from your former pension plan and adding it to your credit in the OPSEU Pension Plan.
If you joined the OPSEU Pension Plan within the past 24 months, you can apply to buy back service from your former pension plan. No applications are accepted after the 24 month deadline.
This calculator is for non-OPS (non-Ontario Public Service) employment service only. Under Federal law, all service before January 1, 1992 must still remain in your former pension plan and payments for this service must be made directly from that plan to OPTrust. These restrictions do not apply to service after December 31, 1991.
The current date is considered as the application date. Total service in the OPSEU Pension Plan is assumed to be as of the previous year end.
This calculator will not take into consideration any other service you are buying back at this time. Additional buybacks will affect the results, particularly for early retirement.
If your former pension plan was a defined contribution plan, contact OPTrust for a cost estimate.
This calculator is provided as an information tool only. It provides an estimate for several common situations but does not cover every possibility. It is not intended to and does not confer any entitlement to pension benefits and is not binding on the OPSEU Pension Trust Fund. The amounts provided by this calculator are based in part, on inputs provided by you and do not necessarily accurately reflect benefits to which you will be entitled.
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About Buybacks |
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Buying back credit increases your pension when you retire and it will increase your credit so that you can retire earlier. It may even help you to qualify for an unreduced retirement provision such as Factor 90 or 60/20.
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