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 $33.7 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.

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.