Omers Transfer Agreements

Members who have been deferred (as of 23 August 2017) who are not yet 55/50 years old have the last chance to submit their CV. The same deadlines and requirements apply to all participating MOPPs. You can transfer your OPTrust pension credit if you meet all the following conditions: If you apply immediately after the end of your OPSEU pension plan affiliation, you must choose to transfer the value of your pension to the new plan. However, if you apply later, you must have opted for a deferred OPTrust pension. Pspp members can transfer their OPSEU-credited service if they join the PSPP. If the amount available in your previous retirement plan for the transfer is greater than the amount needed to put in place an equal balance in your new plan, the additional service cannot be credited to you. Each plan treats excesses differently. Contact the plan from which you want to transfer for information about excesses. No, it`s a transfer, not a buyout. Members who re-join the plan and decide to transfer funds directly from another retirement plan to set up a service in the plan are not affected by this change of plan. If you and your spouse later decide to request a transfer or share the OMERS plan, a FLV date must be confirmed.

This date must correspond to one of the data in Schedule A. You can also transfer the money to an Additional Voluntary Contributions . AVCs are an exclusive savings option for OMERS members. AVCs do not increase your OMERS pension. The time you worked for your OMERS employer before being enrolled in the OMERS plan can be acquired and converted into a recognized Tooltip service. Increasing your credited service increases your pension and may allow you to retire earlier without a reduction. You may also have other services that you can buy back and convert into OMERS service, for example. B a time of service from another pension plan that you have exchanged or transferred. Note: If you decide to wait for this service and buy it back later in your career, it may become more expensive. OMERS has foreign exchange contracts with the following pension plans: this section describes the transfer agreements that allow the transfer of funds between pension plans: this amendment does not apply to members who have previously transferred their pendulum under a reciprocal agreement or transfer agreement due to a reduced life expectancy or a transfer to another registered pension scheme. If you are affected by a transfer situation, if you are an employee of the successor employer and a member of the successor employer`s pension plan, you may be able to transfer your OPTrust pension credit.

For more information, please contact OPTrust. You will also receive notice and a unique opportunity to make a transfer choice.