The Teachers' pension plan announced Oct. 25, 2011 a 2.8 per cent before-tax
increase in your pension, beginning January 2012. If you started your
pension this year, your inflation increase will be pro-rated. Details
will follow in Pension News in early November.
Click here for the latest information on inflation protection
CHANGES TO PENSION REGULATIONS EFFECTIVE JANUARY, 2009 AFFECT SUPPLY/OCCASIONAL TEACHING FOR EVERYONE
The Ontario Teachers' Federation (OTF) and the Ontario government have changed the plan's re-employment provisions. Effective Jan. 1, 2009:
1. The re-employment limits apply regardless of your age. Before the change, the limits did not apply after age 71.
2. You no longer contribute to the pension plan if you exceed the re-employment limit. Contact your employer if contributions are inadvertently deducted from your pay after Dec. 31, 2008. (Your pension will be suspended if you work after the month in which you exceed the limit.)
3. You can choose to have your pension recalculated to include the additional credit you accumulate while re-employed only if you: > return to work in education for the first time after Dec. 31, 2008; > notify us of your intention before you return to work; and > will work for the equivalent of a year or more. If you do this, your pension will be suspended and you will contribute to the plan during your re-employment. For more information on working after retirement, please visit the OTPP Website .
Under the system now in effect, the following rules govern supply teaching:
Maximum 95 days of re-employment in each of the first three school years in which you return to teaching. These don't need to be consecutive years.
Maximum 20 days of teaching each school year after the first three years you return to teach.
Years you taught before the window count.
Years taught during the window-Sept. 1, 2001, to Aug. 31, 2006, don't count.
If you reach and/or exceed the limit, whether now or in the future, you need to notify your employer. Pension contributions will be deducted from your pay on your 96th day of re-employment. If you continue to teach the month after you exceed the limit, your pension will be suspended. It will be reinstated the month following your last day of re-employment.
For further information, contact the OTPP at 1 800 668 0105 or 416 226 2700.