In this section
This section contains the following three subsections.
|Terminating PSPP Membership||
What is Termination?
Termination is the end of the employee's membership in the PSPP before eligibility for immediate retirement. The member either:
- leaves employment, or
- changes job and the new employer is not a participant in the PSPP.
Exception: Transfers from PSPP to OPSEU Pension Plan
It is a mandatory transfer when a member's change in employment
- requires the member to terminate their PSPP membership and join the OPSEU Pension Plan, and
- occurs without a break in employment.
In this case, the members' Pension Credit and the value of their benefits are transferred directly from the PSPP to the OPSEU Pension Plan. Members do not receive termination options.