“I don’t care about the benefits my employer offers,” said no employee ever.

What did employees at CATIE say? “We want a defined benefit pension plan” – thanks to an article in the Toronto Star sharing the news about the new Ontario defined benefit pension plan specifically designed for the nonprofit, charitable and broader public sector organizations called OPTrust Select.

“There was a tremendous amount of interest across the organization. Moving towards a defined benefit pension plan was something people really wanted to get behind and wanted the organization to research and explore more,” said Sean Neeb, Director, Operations and Resources at CATIE – Canada’s source for HIV and hepatitis C information. “And after doing some research and having many conversations with a variety of people, it made sense to join OPTrust Select. In uncertain times, a lot of people would really like to know what they’re going to have in retirement. A defined benefit pension plan brings a lot of stability to people,” added Neeb.

Another benefit of having the OPTrust Select pension plan is that it’s portable. “An employee that wants to carry on in the nonprofit sector can take their pensionable service to another organization that participates in OPTrust Select. It is just phenomenal to be able to have a career in the nonprofit sector with the possibility that a pension plan can follow you from one organization to the next,” said Neeb. And as more organizations join OPTrust Select, this will be an added bonus for recruitment and retention for the nonprofit industry as a whole, not just individual organizations.

Joining OPTrust Select does require administration work and set up time, but once the system is in place, it’s relatively easy, noted Neeb. “It’s been a positive experience. We feel really good about it. OPTrust is a solid organization and has been around for a number of years serving thousands of individuals.”

An OPTrust Select pension, combined with personal savings, and government programs such as CPP and OAS, provides a simple way to invest in your financial future. To learn more about the pension plan and your eligibility to join, please contact us.