Pension

Pension Chair – Cheryl Black

A few years ago I was browsing through the ETFO web site and I found a notice that encouraged ETFO members to apply for  a position on an ETFO Standing Committee. I applied for the Pension committee and was accepted. Working with teachers from other locals from across the province has given me insight about the importance of our pension.  The Ontario Teachers’ Pension Plan, best known as Ontario Teachers’, is Canada’s largest single-profession pension plan. In 2015, the Ontario Teachers’ Pension Fund earned a 13% rate of return and produced $19.6 billion in investment income.

Did you know that there is a calculation tool on the OTTP website? Did you know that there is a link and information about pensions on the ETFO website? www.otpp.com

Statistics show that teachers may live three years longer than people in other professions. However, many teachers need to understand that there are unique pension issues that are relevant to you. Waiting until you are close to retirement to understand what your wealth will be is not showing prudent financial literacy. Sign up online and use the tools that are available for calculation. Always call OTPP for accurate information. Sometimes your colleague’s advice is not always correct.  Contact information for OTPP is 1-800-668-0105 or inquiry@otpp.com .

This year the SCETF Retirement Information Workshops are Monday, November 28 5:00-8:30pm and Wednesday, April 26 5:00-8:30pm at the SCETF Office.  The speakers will be ETFO’s Jennifer Mitchell, from Professional Relations Services, Daisie Gregory, a retired SCETF member and past chair of the Provincial Health Services and Insurance Committee, for RTO/ERO and Jeff Kidd, an OTIP Marketing Specialist. There are only two Retirement Workshops planned. The workshops fill up quickly.. If you are thinking about retirement or have less than 5 years until retirement,  go to www.scetf.org  to book a spot as you must pre-register online.

Be sure to check out the ETFO website, at www.etfo.ca  – multimedia – webcasts  for the Pension Webcast: Getting Ready to Retire for Teachers (OTTP).

 

  Getting Ready to Retire – For Teachers

Here is a link to the ETFO website for information on retirement including a video of Jennifer’s presentation: http://www.etfo.ca/multimedia/webcasts/otpp/Pages/default.aspx

 

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