Forms for Leaves of Absence without Pay and Buybacks
Effective Date: Immediately
We have been in the process of updating our forms for buybacks and are happy to announce that the new forms are now on our website and ready for use. As always, you can find blank forms and sample forms in our employer forms section.
We ask that you please fill the forms in online, as opposed to filling them in by hand, and then print and submit the forms. This will help us accurately capture the information in the forms.
As the employer, when you're filling out any of the below forms, please make sure you have signed the form and provided your contact information or we will have to return the form to you. This could adversely impact the member's cost because the quote is based on the member’s salary in effect on the date all required information is received by OPB.
Which Forms Were Updated On Our Website?
We have updated the Leaves of Absence without Pay Form (OPB 1025), the Application to Purchase Pension Credit (OPB 1043), and the Service Report for Buybacks (OPB 1035).
The new Application to Purchase Pension Credit (OPB 1043) is also available for members to download in the Member Forms section.
What Has Changed?
Leave of Absence without Pay Form (OPB 1025)
Members no longer need to indicate whether they elect to contribute during a leave or not.
As the new form indicates, OPB will now send each member a no-obligation cost quote to help the member decide whether or not to contribute to the PSPP during their leave. The quote will include information about the benefits of contributing during a leave, as well as any options to buy back the period of the leave when the member returns to work.
The cost quote will include a payment schedule.
If a member wishes to contribute during their leave, they simply submit payment according to the payment schedule.
If a member does not wish to contribute during the leave, they don’t need to do anything. In this case, the member will still have the option to buy back the service within 24 months from the end date of their leave.
Members can always call OPB directly to discuss their options and the benefits of contributing during a leave and buying back service.
Tips for filling out this form
- When a member is on a pregnancy/parental leave, please submit only one leave of absence form for the duration of the leave and indicate sub allowance per period.
- If you do not provide us with a return to work date for the member, we will cost the quote up to the year end. If the leave extends into the next year, we need you to fill out a second leave of absence form.
- Please ensure you specify the type of leave, without this we cannot provide a costing to the member.
Important: As always, please ensure OPB receives a copy of this form before the member starts their leave.
Application to Purchase Pension Credit (OPB 1043)
The most notable change on this form is the introduction of a chart that lists all supporting documents the member needs to submit for each type of buyback:
- leave of absence greater than one month,
- member of the PSPP or predecessor plan and received commuted value or refund,
- belonged to a non-OPS registered Canadian Pension Plan, or
- has a deferred pension with OPSEU.
The form also clearly states that we cannot provide a cost quote until we have received all associated Required Supporting Documents and that the quote is based on the member's salary in effect on the date all information is received.
Service Report for Buybacks (OPB 1035)
The first change you'll notice is that there is now only one remarks box and it is located before the service periods. Please use this box to indicate any special remarks. For example, if you need to indicate an RPT for a particular service period, you can use this box to do so.
The second change you'll notice is that we've made changes to how you fill in the service period. To indicate whether the time worked was in hours or weeks, simply click on the appropriate radial (circle). Please make sure to also fill in the appropriate rate of pay (hourly, weekly, bi-weekly, annually).
Tips for filling this form out
- When you're filling out a service period that spans two calendar years, please fill this out as two separate service periods. For example, if you are reporting service for April 07-March 08, the first period would be April 07-Dec 07 and the second period would be January 08-March 08.
- When filling out the actual time a member worked during the service period, please make sure you're using the total number of hours/weeks they actually worked during the period as opposed to using the standard hours of work/week for that position. For example, if you're reporting a member who worked full-time during the period, you could report them as having worked 1820 - 2000 hours or 52 weeks, but not 36.25 hours or 40 hours.
- Please ensure when you're submitting this report that you include all three pages even if you've only filled out pages 1 and 3. We cannot process this application without all three pages, which means that we will return the report to you if you submit it and we're missing any of the three pages.
If you have any questions, please contact Steve Reis, Employer Relations Specialist at 416-601-3967.