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WHAT IS 'Ontario Teachers' Pension Plan Board - OTPPB'

What if I have other questions? What is a pension plan?

  1. Back to the top 6.
  2. What is the Pension Negotiations Committee?
  3. There are also inactive members who are not active contributors; for example, a former teacher with 10 years of OTPP contributions who now runs a travel business. Back to the top 17.
  4. The OTPPB describes the pillars of this system as independence, strong internal governance starting with board members, direct investment and a focus on retaining talent.
  5. OTPPB has also achieved success by maintaining a board which has avoided political concerns that have often struck other public pension institutions.

A pension plan is a program by which you can save money while you are working so you will have funds to live on when you retire. Why is it important to contribute? Contributions to a pension plan have several advantages: Back to the top 3.

The OTPP is a defined benefit pension plan. This means that your pension is based on a formula: Back to the top 4. Membership in the OTPP is mandatory for all teaching certificate holders working in publicly funded schools in Ontario, including teachers, vice-principals, principals, and supervisory officers working for school boards. Other members of the OTPP include teachers on secondments, teachers working on Federation staff, teachers working in other designated educational institutions including some private schoolsand teachers working for school boards or designated employers in a non-teaching role.

There are also inactive members who are not active contributors; for example, a former teacher with 10 years of OTPP contributions who now runs a travel business. Back to the top 5. The terms of the partnership provide for joint governance of the OTPP: Back to the top 6.

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Since the OTPP is a partnership between teachers and government, each Partner shares both the good and the bad. This means that, when the investments of the pension fund do well and the OTPP has an actuarial surplus, the Partners negotiate how this surplus will be utilized. If the investments do poorly or if growing liabilities create a deficiency, the Partners must share the responsibility for making up the shortfall.

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Ontario Teachers' Pension Plan Board - OTPPB

Back to the top 8. The bylaws define the qualifications required of the directors as well as the selection committee and process.

We must also have one director with general pension experience and specific expertise in pension plan benefits and structure. Also, at least two directors must have general pension experience and specific expertise in pension finances. These criteria provide the teacher partner with some flexibility to meet other skill sets which might be required on the Board from time to time; for example, expertise in global markets, macroeconomics, human resources, or information technology.

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Back to the top 9. Back to the top 10. The teacher members of the committee change yearly as new members take office. Back to the top 12.

Back to the top 13. Back to the top 14. What is the Pension Negotiations Committee? Back to the top 15. What does the Pension Negotiations Committee do?

Ontario Teachers' Pension Plan

The negotiations take place at least every three years. Back to the top 16. How are my interests represented if I am not a member of OTF?

This consultation is done on both a formal and an informal basis. All communications regarding the pension plan are distributed as broadly as possible to all members of the plan. Back to the top 17.