History

Who are we?

Ontario Pension Board (OPB) is the administrator of the Public Service Pension Plan, a major defined benefit pension plan, sponsored by the Government of Ontario. Our membership is comprised of certain employees of the provincial government and its agencies, boards, and commissions.

With over $31 billion in assets, 45,251 active members, 40,521 retired members and 7,324 former members, the PSPP is one of Canada’s largest pension plans. It’s also one of the country’s oldest pension plans that has been delivering guaranteed pension since the early 1920s.

Who do we serve?

• We serve active PSPP members as well as deferred and retired members and employers; and
• We also serve other key stakeholders (the Plan Sponsor, bargaining agents).

What is the PSPP?

The PSPP is a contributory defined benefit pension plan that provides you with a guaranteed lifetime pension income once you retire. To help fund the pension in your working years, you and your employer both make contributions to the Plan.

The amount you receive once you retire is based on a pre-set formula that takes into account your earning history and years of pension credit in the Plan.

Our Mission

Advise & Protect for the future of the PSPP and its stakeholders.

Our Purpose

Reassuring things happen when we look after each other and work together in common cause.

Over the course of their working lives, our public-servant clients support strong and sustainable communities across Ontario. We understand the importance of helping others build toward a strong and sustainable future.

Through our Advise & Protect mission, we assist our clients to effectively plan for a retirement with security and dignity – a retirement in which they can thrive and continue contributing to their communities. Our team of diverse professionals supports every stage of our clients’ careers, ensuring the pensions they have earned are protected along the way through strategic and prudent fiscal oversight.

Our commitment is to be there.

There for life.

Our Vision

OPB is a premier pension delivery organization and a trusted advisor to all our stakeholders, whose effectiveness delivers sustainability for the PSPP.

Our Values

Client & Stakeholder Commitment

We are committed to delivering exceptional client and stakeholder experiences.

Diversity, Equity and Inclusion

We value our differences, creating safe spaces for all as we work in collaboration, leveraging everyone’s unique talents and life experiences, and interacting with respect, empathy, and compassion.

Innovation & Continuous Learning

We are a high-performing organization with a can-do attitude which pursues continuous improvement, learning, growth, and achievement.

Trust & Transparency

We act with integrity, communicating with honesty and transparency to have meaningful interactions and foster trust.

Accountability

We each take accountability. Together, we protect the pension promise through advocacy and the effective and efficient delivery of services that support and protect the financial well-being of our clients.

What is our promise to you?

Our promise is to use innovative solutions and strategies to:

• protect your retirement savings by ensuring the long-term sustainability of the Plan;
• invest the Plan’s assets to maximize returns within acceptable risk limits;
• maintain contribution levels to be stable and affordable; and
• deliver superior, cost-effective service to our clients and stakeholders.