A SMART Investment in Your Future

We are passionate about pensions and believe strongly in the value of the defined benefit (DB) pension model and its ability to provide secure, predictable income in retirement.

That’s why we’ve introduced OPTrust Select to expand DB pensions and the advantages of the DB model to a broader universe of working people in Ontario.

OPTrust Select is a simple way to save for the future. The Plan features:

  • Contribution rate of 3% for members and 3% for employers
    For years one and two, each new employer contributes an additional 0.2%
  • An annual accrual rate of 0.6% of earnings
  • Earnings upgrades and cost-of-living increases, dependent on the Plan’s funded status and annual board approval.

A contribution to your future

Simply put, for the price of a cup of coffee or two a day, you’re contributing to a secure pension with OPTrust Select.

See how it all adds up

OPTrust Select provides a steady stream of retirement income at age 65 to supplement your government benefits.

Final Salary $40,000 $50,000 $60,000 $70,000
Your Retirement Income at Age 65
Enhanced CPP* and OAS Benefits 20,400 23,700 27,000 28,300
OPTrust Select Pension** 5,700 7,100 8,500 9,900
Total Retirement Income $26,100 $30,800 $35,500 $38,200
Income Replacement Ratio 65% 62% 59% 55%

The example is based on a member with 25 years of service and various final salary levels retiring at age 65.
*Assumes member contributes to CPP for full career at level consistent with average salary
**Assumes earnings increase by 2.5% each year and benefit reflects earnings upgrades of 2% each year

OPTrust Select pensions are calculated based on your career average earnings multiplied by 0.6% for each year of service you earn in the Plan. Depending on the financial status of the Plan, the Board of Trustees will meet annually to determine whether earnings for active members should be upgraded and pensions in pay should receive a cost of living increase. Earnings upgrades can range from 0 to 100% of the increase in the previous year’s average industrial wage (AIW) and cost of living increases for pensioners can range from 0-100% of the increase in the Consumer Price Index (CPI).

Simple. Smart. Select.