Exceptions: These conditions apply to current CAB participants, with the exception of Quebec and the federal government. Contact opB for CAB transfers in Quebec and the federal government. See Transfer of pension assets to the PSPP (PDF) for actual maturities. If you apply immediately after your membership in the ESPO pension plan ends, you must choose to transfer the value of your pension to the new plan. However, if you apply at a later date, you must have chosen a deferred OPTrust pension. University administrators who may be in negotiations to attract new employees to the University are encouraged to contact Human Resources – Pensions, Benefits and Payroll at (514) 398-6250 for information and assistance if the transfer of pension credits becomes an issue in a particular case. For employees who joined the McGill University Pension Plan before January 1, 2009 or who were eligible for the McGill University Pension Plan, the University has reciprocal transfer agreements with a number of Canadian employers that allow the transfer of pension credits from one pension plan to another. Employees who purchased retirement loans from such an employer prior to joining McGill may consider transferring their accumulated pension assets to the McGill Pension Plan, subject to the specific terms of the agreement with their former employer. Unlike the MOPPs agreement, the timelines for each RTA depend on the terms of that specific agreement.
This section describes a transfer under the Agreement on Ontario`s Major Pension Plans (MOPPs) and includes the following topics: This table describes the transfer of funds and loans from a MOPPS participating plan to the PSPP. You are responsible for initiating the transfer of the OPSEU pension plan. You will need to contact your new pension plan or employer to obtain a Schedule A form. You must sign the form and return it to your new pension plan on time. If you started paying your OPTrust pension before being readmitted to the OPSEU pension plan as a contributing member and wish to withdraw from the plan, please contact OPTrust to discuss your situation. To be eligible for a transfer under a MOPPs or ATR agreement, not only must you meet the deadlines, but your pension assets must still be in the OPSEU pension plan. You are not entitled to a transfer if you transfer your retirement benefit to a blocked pension account or if you receive a refund of your pension contributions. It should also be noted that a transfer of pension benefits may be authorized by some employers without the need for a formal mutual delegation agreement. This practice is often permitted by employers sponsoring the defined contribution pension benefit when the credited benefit is not relevant to the calculation of entitlement to benefits. .