24-month costing window

Costs to buy back an eligible period of service within the 24-month costing window are often lower than calculated. It's best to apply as soon as you can because for most eligible periods, the cost of buying pension credit increases over time - sometimes significantly.

The 24-month costing window is 24 months from the date:

  • You ended a leave of absence
  • You became a member of the PSPP (or in some cases, the OPSEU Pension Plan)
  • A legal strike, lockout, or temporary layoff due to legal strike or lockout ended
  • You received initial notification of a shortfall that resulted from transferring pension credit into the PSPP

Please note your 24-month costing window will depend on your specific buyback scenario.

Actuarial costing

This method calculates an amount of money we would need to set aside today to fund the additional pension benefits you would be entitled to at retirement by buying back a certain amount of pension credit. The calculation takes into account a variety of factors and assumptions such as:

  • Projected retirement age
  • Pre-retirement terminations
  • Future salary increases up to retirement
  • Mortality rates
  • Interest and inflation rates

Please note that your employer does not pay a matching share for this type of buyback cost.

Example: For a PSPP member with a current annual salary of $60,000, the actuarial cost for one year of service varies from $7,500 to $37,000. This wide range in potential cost is due to differences in a member's age and accrued PSPP pension credit. In general, the actuarial cost increases with age and accrued PSPP pension credit, and is likely higher than the single contribution cost.

Accrued pension benefit
The amount of pension earned by a PSPP member, based on the member's earned pension credit and salary rate, up to a given date.
Annual salary
Your regular base salary. It does not include overtime pay, payment in lieu of benefits or any other special payments.
Average annual salary
The average of your annual salary for your best 60 consecutive months of PSPP membership, or your full period of membership if you were a member for less than 60 consecutive months. If you transfer pension credit into the PSPP, your prior period of membership in the other plan will be combined with your current period of PSPP membership to determine your average annual salary.
Average year's maximum pensionable earnings (YMPE)
The average of the year's maximum pensionable earnings (YMPE) for the member's last three calendar years of PSPP membership.
Beneficiary
See Designated beneficiary.
Buyback cost

The approximate amount in a single contribution it would cost to purchase pension credit.

Buyback cost [to purchase] the
Buyback service period

The approximate single contribution cost to purchase pension credit for the buyback service period shown in your estimate assumptions.
Buyback cost [to purchase] the
minimum purchase required to qualify for early unreduced retirement
The approximate single contribution cost to purchase pension credit you need to qualify for an early unreduced pension that starts before age 65 and is not subject to an age reduction.
Buyback cost [to purchase] the
minimum purchase required to qualify for Post-retirement Insured Benefits
The approximate single contribution cost to purchase pension credit you need to qualify for Post-retirement Insured Benefits.
Canada Pension Plan (CPP)

A mandatory Federal earnings-related pension plan for working Canadians in which:

  • employee contributions are made by payroll deduction, and
  • both employee and employer portions are remitted by the employer to the CPP.

In Quebec, this is replaced by the Quebec Pension Plan (QPP).

Canada Revenue Agency (CRA)
The federal government department responsible for administering the Income Tax Act and the Regulations.
CPP Integration

Refers to how the PSPP and CPP plans work together during your working years, early retirement, and after age 65. Your PSPP pension consists of:

  • the lifetime pension, available from the date you retire for your lifetime; and
  • if you retire early, an early retirement bridge benefit, available from your early retirement date up to age 65.

At age 65, the early retirement bridge benefit portion of your PSPP ends. The additional bridge benefit is intended to supplement your retirement income until age 65 when you are eligible for an unreduced CPP pension.

If you collect both your PSPP and CPP pensions before age 65, you will notice an adjustment to your total pension income at age 65 when the early retirement bridge benefit ends. For more information about CPP Integration, please refer to the booklet CPP Integration and your PSPP Pension.

CPP Integration = 0.7% of the Average YMPE or your average annual salary, whichever is less x Your pension credit
(to a maximum of 35 years)
COLA
Cost of living adjustment
Commuted value (CV)

A lump-sum amount that represents the current value of your deferred pension. It's what we would likely have to invest today to fund these future pension payments. The CV provides other options for your retirement income if you don't want to take a deferred pension.

Requirement: member is under 55 and not eligible for an unreduced pension.

Consumer Price Index (CPI)
A standard measure of the Canadian cost of living that the Federal government sets each month.
Cost of living adjustment (COLA)

The dollar amount of the increase to an individual pension payment. COLA is calculated by means of an escalation factor, which is:

  • the percentage by which the Ontario Pension Board increases pensions each year
  • based on the Consumers' Price Index (CPI), a standard measure of the Canadian cost of living that the Federal government sets each month, and
  • set by the PSPP which specifies
    • how the escalation factor is determined, and
    • the maximum annual percentage increase of 8%.
CPI
Consumer Price Index
CPP
Canada Pension Plan
CRA
Canada Revenue Agency
Credit:
See pension credit
CV
Commuted value
Deferred pension

A pension you can collect at a later date, provided you leave your pension credit in the Plan when you end your membership. You can start collecting a deferred pension as early as age 55. If you start collecting your pension before age 65, however, it will be reduced to reflect the fact that you are starting it early and, therefore, are likely to collect it longer. At age 65, it will then be adjusted for CPP.

To learn more about deferred pensions, please read The deferred advantage.

Deferred profit sharing plan (DPSP)
A a savings plan that is that is registered under the Income Tax Act and used by an employer to share profits with employees. Employer contributions are allocated to employee accounts based on a formula. Funds are tax-sheltered until paid out of the plan.
Designated beneficiary
Receives the commuted value of the member's pension, based on the pension credit earned since January 1, 1987, if the member dies before the pension payments start and does not have an eligible spouse at the time of the death. Applies to members who have 24 or more months of PSPP membership and/or pension credit.
Disabled dependant child

Includes your natural or adopted child, who:

  • applies (or the child's guardian or Power of Attorney applies) to the Board and the child has been found by the Board to have a continuing mental or physical disability, AND
  • is, by reason of that disability, financially dependent on the member/pensioner at the time of their death.

Further, a disabled dependant child is now entitled to a survivor pension, regardless of age and education requirements, as long as:

  • there is no eligible surviving spouse at the time of death of the member/pensioner, or
  • the surviving spouse dies while receiving a survivor pension.
Earliest Unreduced Retirement Date
The earliest date on which you qualify for an unreduced pension that starts before age 65 and is not subject to an age reduction.
Early retirement
Lets you retire before age 65 with an immediate reduced pension or an unreduced pension.
Early retirement bridge benefit
If you retire early, your PSPP plan provides an additional early retirement bridge benefit over and above your lifetime pension amount until you reach age 65. The additional bridge benefit is intended to supplement your retirement income until age 65 - when you are eligible for an unreduced CPP pension.
Eligible child

Includes your natural, adopted child, or child you have with your eligible spouse and/or from a past relationship, who:

  1. is under age 18; or,
  2. is 18 or older and in continuous, full-time attendance at secondary school or, immediately afterwards, in continuous, full-time attendance for up to 5 years at post-secondary school, or
  3. applies (or the child's guardian or Power of Attorney applies) to the Board and the child has been found by the Board to have a continuing mental or physical disability, and to have been, by reason of that disability, financially dependent on the former member at the time of the former member's death.
Eligible spouse

Your eligible spouse receives a survivor pension or other benefit from the PSPP after the member/pensioner death. The definition of "eligible spouse" depends on whether death occurs before or after retirement.

Before retirement

The member's spouse receives a benefit based on the pension credit accrued since January 1, 1987, if they are not living separate and apart at the member's death.

The member's spouse is also eligible for a benefit based on any pension credit accrued before 1987, if they are not living separate and apart both at the member's date of termination and date of death.

After retirement

The member's spouse is eligible for a survivor pension if they are not living separate and apart on the first day of the month when the member's pension starts.

If the member establishes a spousal relationship after retirement, the post-retirement spouse is not eligible for a survivor pension unless the member applies and is approved for this benefit.

For members who retired before 1988, the above definition does not apply. Contact OPB for details.

If you ended your spousal relationship - Pension entitlements shown in e-services DO NOT reflect any domestic contract (i.e., separation agreement) you and your former spouse have signed.

If you have split your pension for spousal relationship breakdown - Pension estimates shown display 100% of the pension you have accrued and DO NOT reflect the Family Law Value (the "imputed value") that may have been transferred to a former spouse.

"spouse" and "eligible spouse" under the Pension Benefits Act (PBA) and the Family Law Act (FLA) - For family law purposes, a spouse becomes a "former spouse" first, and then when he/she meets all eligibility requirements for a pension entitlement, he/she becomes an eligible former spouse. In the PBA areas dealing with family law, the FLA definitions of spouse apply instead of the PBA definitions.

For more information, please read Spousal relationship breakdown.

Employment information
Refers to data that includes your age, earnings, whether you are applying for an Immediate Pension, any Leaves of Absence, and your service credit.
Family Law Value
The Family Law Value is the value of your PSPP pension accrued during the spousal period as required by law. It is not the same as a commuted value available upon termination of PSPP membership. For more information about spousal relationship breakdown, please read Spousal relationship breakdown on our website.
Grow-in
Recent legislation (effective July 1, 2012) includes a provision called grow-in which allows individuals who are involuntarily terminated and who meet a 55-point test, to grow into their earliest unreduced retirement date (EURD). For more information about grow-in, please see Leaving the Plan > Involuntary termination.
Immediate reduced pension

Or Immediate Pension, is a pension that starts before age 65 and is subject to an age reduction. With the age reduction, pension is reduced by 5% for each year (and pro-rated for a partial year) the member is under 65. For example, a pension starting at age 60 is reduced by 25% (5% x 5 years under 65).

Requirement: Member must be age 55 or older and not eligible for an immediate unreduced pension (subject to small pension rules).

Insured benefits

If you're a regular full-time employee, when you retire you will be entitled to receive medical, dental and basic life insurance benefits if you satisfy the eligibility requirements. If you're a seasonal or regular part-time employee, you must have continuous employment with pension credit in each of your qualifying years to be eligible for insured benefits. Buying back pension credit can help you reach the amount of pension credit you need to qualify for insured benefits in retirement.

OPP members receive insured benefits from the Ontario Provincial Police Association (OPPA). Contact OPPA for more information at 1-800-461-4282

Please note: On February 18, 2014 the Government of Ontario announced changes to the post-retirement insured benefits (medical, dental and basic life insurance coverage) it offers to the Ontario Public Service. These changes are expected to become effective January 1, 2017. For more information about eligibility for insured benefits and these changes, please read Government of Ontario announces changes to post-retirement insured benefits (PDF).

ITA
Income Tax Act
ITA limits
The Income Tax Act has a number of rules that govern the purchase of pension credit, including the amount of buyback payment that is tax deductible; for details, please refer to "Tax considerations" in Understanding your pension credit (PDF).
LIF
Life Income Fund
Life Income Fund (LIF)
A type of Registered Retirement Income Fund (RRIF) purchased with locked-in pension funds in which the owner must withdraw annually a minimum amount up to a maximum amount prescribed by the governing legislation. The owner must use the balance of the funds upon reaching age 80 to purchase a life annuity. Effective January 1, 2008, a new LIF with more flexible payout options became available to replace LIFs and LRIFs.
Lifetime pension
The portion of your PSPP pension available from the date you retire (including early retirement) for your lifetime (from retirement to death).
LIRA
Locked-In Retirement Account
LOA
Leave of Absence
Locked-In Retirement Account (LIRA)
A type of Registered Retirement Savings Plan (RRSP) where the funds are subject to pension legislation. The funds must be used to purchase a life annuity or be transferred to a Life Income Fund (LIF) or a Locked-In Retirement Income Fund (LRIF) by the end of the year during which the owner reaches age 71, at the latest.
Locked-In Retirement Income Fund (LRIF)
A type of Registered Retirement Income Fund (RRIF) purchased with pension funds in which the owner must withdraw annually a minimum amount up to a maximum amount prescribed by the governing pension legislation, similar to the LIF. However, a LRIF differs from a LIF in that the purchase of an annuity at age 80 is not required. Effective January 1, 2008, a new LIF with more flexible payout options became available to replace LIFs and LRIFs.
LRIF
Locked-In Retirement Income Fund
LTIP
Long Term Income Protection
Marital status

The marital status we have on record for you. If this is not correct, please contact OPB.

If you have an eligible spouse (as defined by the Plan) when you start collecting your pension from the PSPP, that pension will include a joint and survivor pension. The joint and survivor pension which is required by law under Ontario's Pension Benefits Act means your eligible spouse will be entitled to a lifetime pension after you die, equal to 60% of your pension. To help offset the cost of paying this survivor pension to your spouse, the pension you receive will be actuarially reduced.

An increased survivor pension will reduce the pension you receive during your lifetime. If your spouse predeceases you or your spousal status changes, you will continue to receive the reduced pension. The reduction takes into account your age and your spouse's age when your pension starts.

You and your spouse can waive some or all of the 60% joint and survivor pension. If you both waive the joint and survivor pension, the pension you receive will not be reduced to cover the cost of paying a pension to your eligible spouse after your death.

"spouse" and "eligible spouse" under the Pension Benefits Act (PBA) and the Family Law Act (FLA) - For family law purposes, a spouse becomes a "former spouse" first, and then when he/she meets all eligibility requirements for a pension entitlement, he/she becomes an eligible former spouse. In the PBA areas dealing with family law, the FLA definitions of spouse apply instead of the PBA definitions.

Minimum purchase required to qualify for Early Unreduced Retirement
The minimum amount of pension credit you need to purchase to qualify for an early unreduced pension that starts before age 65 and is not subject to an age reduction.
Minimum purchase required to qualify for Post-retirement Insured Benefits

The amount of pension credit you need to purchase to qualify for post-retirement insured benefits.

  • If you're a regular full-time employee, when you retire you will be entitled to receive medical, dental and basic life insurance benefits if you satisfy the eligibility requirements.
  • If you're a seasonal or regular part-time employee, you must have continuous employment with pension credit in each of your qualifying years to be eligible for insured benefits. Buying back pension credit can help you reach the amount of pension credit you need to qualify for insured benefits in retirement. The Minimum purchase required to qualify for Post-retirement Insured Benefits information does not display in your estimate if you are an unclassified, seasonal or regular part-time employee since special calculations apply. If this applies to you and you want to know if you can purchase pension credit to qualify for post-retirement insured benefits, please contact OPB directly for more information.
  • OPP/OPPA members receive insured benefits from the Ontario Provincial Police Association (OPPA). Contact OPPA for more information at 1-800-461-4282

Please note: On February 18, 2014 the Government of Ontario announced changes to the post-retirement insured benefits (medical, dental and basic life insurance coverage) it offers to the Ontario Public Service. These changes are expected to become effective January 1, 2017. For more information about eligibility for insured benefits and these changes, please read Government of Ontario announces changes to post-retirement insured benefits (PDF).

MOPPS
Major Ontario Pension Plans
MOPPS (Major Ontario Pension Plans) Agreement
An agreement that facilitates transfer among participating pension plans for employees who often move among the larger Ontario public sector employers.
Non-Ontario Public Services (non-OPS) employer
An employer that is not a ministry, agency, board, commission or organization of the Government of Ontario.
Normal Retirement Date
Is typically your 65th birthday. You can continue your PSPP membership past age 65, but under the Income Tax Act (ITA) you must start receiving your PSPP pension by the end of the year in which you turn 71.
Old Age Security (OAS)
Is a Federal monthly benefit available to most Canadians 65 years of age or over. In order to receive this benefit, you must apply for it and meet eligibility requirements. For more information on the Old Age Security pension visit the Service Canada website at: http://www.hrsdc.gc.ca/en/isp/oas/oasoverview.shtml
OMERS
Ontario Municipal Employees Retirement System
Ontario Pension Board (OPB)
Ontario Pension Board (OPB) is the administrator of the Public Service Pension Plan (PSPP) and is responsible for the day-to-day administration of the PSPP.
Ontario Public Service (OPS) employer
A ministry, agency, board, commission or organization of the Government of Ontario that is designated by law as an employer for the purposes of the PSPP.
OPPA
Ontario Provincial Police Association
OPB
Ontario Pension Board
OPS
Ontario Public Service
OPSEU
Ontario Public Service Employees' Union
OPTrust
OPSEU Pension Trust
PA
Pension adjustment
PAR
Pension adjustment reversal
Past Service Pension Adjustment (PSA)
An increase in the estimated value of the member's pension resulting from a past service event. For example, the buyback of pension credit for periods of post-1989 service. A PSPA will reduce the member's RRSP contribution room and must be approved by the Canada Revenue Agency (CRA) to proceed with the buyback.
Payment recipient
May receive a residual benefit once all pension and survivor pension payments have been made from the PSPP. Applies to pensioners.
PBA
Pension Benefits Act (PBA) Ontario
Pension adjustment (PA)
The estimated value of the amount of pension earned by a member of a registered pension plan in a calendar year. It is related to the pension plan formula but does not represent the real value of the member's benefit from a particular plan. It is applied to the member's RRSP contribution room in the following calendar year; i.e., the PA calculated on 2008 earnings is applied to the member's RRSP contribution room in 2009. The PA is calculated according to the formula set out under the Income Tax Act (ITA).
Pension benefit
The total monthly, annual or other periodic amounts to which a member will become entitled under the PSPP on or after ceasing to be a member or to which any other person will become entitled under the PSPP upon the death of a member or former member.
Pension Benefits Act (PBA)
The Ontario legislation that sets out the rules for pension plans registered in the Province of Ontario. The PBA established the minimum benefits that must be payable by a pension plan and, in turn, pension plan administrators must comply with these rules in their day-to-day operations.
Pension credit
The length of time (measured in months and years) that you contributed to the PSPP. It includes extra credit bought or transferred in from another pension plan, as well as any period when you are eligible for long-term income protection (LTIP).
Pension formula:

(2% x average annual salary) x pension credit = annual pension

If a member is entitled to a pension upon leaving the PSPP, it will be calculated with this formula. At age 65 or death, whichever is earlier, this pension will be reduced for CPP integration.

Projected annual salary increase
Select the rate by which you anticipate your annual salary to increase until your retirement. The default for this increase is set at 2%. Remember to click the Update Salary button to display your projected salary at retirement.
Projected salary at retirement
This tool will estimate your projected salary at retirement using your salary information and the projected annual salary increase you selected. Your projected salary at retirement, and your best 5 years salary - different rules may apply for members of OPP/OPPA - are used to calculate your pension benefit.
Public Service Pension Plan (PSPP)
Means the Public Service Pension Plan (PSPP) as described in Schedule 1 of the Public Service Pension Act (Ontario) and any predecessor Act. The PSPP is the pension plan for certain employees of the Ontario Government and its agencies, boards and commissions and is administered by the Ontario Pension Board (OPB).
Public Service Supplementary Benefit Account

The Income Tax Act limits the amount that you can contribute to the PSPP. Contributions over the limit are directed to the Public Service Supplementary Benefit Account, and this limit changes each year. For 2009, the pension credit you earned after 1991 is subject to the limit if your salary is around $138,000 or more; any pension credit you purchased after June 7, 1990 is subject to the limit if your salary is around $97,300 or more.

If you are just over the limit you should be aware that, depending on how your salary changes, you may qualify for a supplementary benefit in one year and have your pension fully covered by the PSPP in the next year. The estimates generally include amounts payable from the Public Service Supplementary Benefit Account, if applicable. Your supplementary benefit will be determined when you start receiving your pension.

If you are affected by this limit and your estimate includes pre-1990 service, the buyback calculations on these pages may show figures higher than your actual pension entitlement.

Public Service Supplementary Plan (PSSP)
A non-registered supplementary retirement plan designed to provide pension payments for those PSPP members whose pension is limited by the application of the Income Tax Act limits. The PSSP came into existence on October 12, 1994 through an Order-in-Council (No. 2779/94), with an effective date of January 1, 1992.
PSPA
Past Service Pension Adjustment (PSPA)
PSPP
Public Service Pension Plan (PSPP)
PSSP
Public Service Supplementary Plan (PSSP)
QPP
Quebec Pension Plan (QPP). See Canada Pension Plan.
Reciprocal Transfer Agreement (RTA)
An agreement between the PSPP and another registered pension plan to enable the transfer of credit from that pension plan into the PSPP (or vice versa).
Refund recipient
Receives a refund of member contributions, with interest, if the member dies before the pension starts and the member does not have an eligible spouse or eligible child at death. If the member has 24 or more months of PSPP membership and/or pension credit, this is any contributions paid by the member before 1987. If the member has less than 24 months of PSPP membership, this is the member's total contributions.
Registered Pension Plan (RPP)
A pension plan that is registered under the Income Tax Act.
Registered Retirement Income Fund (RRIF)
A registered retirement vehicle in which the owner must withdraw annually a minimum amount prescribed by the Income Tax Act.
Registered Retirement Savings Plan (RRSP)
A a personal retirement savings plan, defined in the Income Tax Act (ITA) and held in trust by a bank, trust or insurance company or other financial institution recognized by the Canada Revenue Agency (CRA). Contributions are tax-deductible and tax is deferred on the investment income until such time as the funds are withdrawn or the owner of the RRSP reaches age 71, whichever is earlier.
Residual balance
The difference between total member contributions, with interest, and the total pension and survivor pension payments made from the PSPP.
Residual benefit
The difference between total member contributions, with interest, and the total pension and survivor pension payments made from the PSPP.
Retirement option

The 'factor' under which you are retiring; it may be:

Normal Retirement At age 65
Factor 90 (unreduced) Age + pension credit = 90+
60/20 provision (unreduced) Age 60 + with 20+ years of pension credit
OPP 50/30 provision (unreduced) OPP officer age 50+ with 30+ years of pension credit
Immediate Pension (reduced) Age 55 + 2 years Service; 5% reduction per year before age 65

Your retirement option indicates whether you qualify for an unreduced pension that starts before age 65 without an age reduction.

RPP
Registered Pension Plan
RRIF
Registered Retirement Income Fund
RRSP
Registered Retirement Savings Plan
RTA
Reciprocal Transfer Agreement
Salary
The amount of money payable to a member and computed by reference to the hours, days, weeks or other specific periods of time for which the member is employed, but does not include overtime pay or any payment to the member in lieu of a benefit provided by the employer or any payment determined by OPB not to be part of a member's salary.
Single contribution cost
The costing method used to calculate the cost for certain eligible periods of employment for buyback. It uses the same formula used to calculate your yearly contributions to the PSPP.
Small pension rules

When you leave the plan (termination or retirement), your pension is considered a small pension if:

  • your annual pension is equal to or less than 4% of the Year's Maximum Pensionable Earnings (YMPE) in the year of termination, or
  • the commuted value of your pension entitlement is less than 20% of the YMPE.

If your pension is considered a small pension and you:

  • don't qualify for insured benefits in retirement, you will receive a lump sum payment from the Plan
  • do qualify for insured benefits, you will have the option of a deferred pension or a lump sum payment from the Plan
Spouse

Someone of the opposite or same sex who is:

  • married to the member/pensioner; or
  • living with the member/pensioner in a conjugal relationship (common law)
    • continuously for a period of 3 or more years, or
    • in a relationship of some permanence if they are the natural or adoptive parents, as defined in the Family Law Act (Ontario), of a child.

"spouse" and "eligible spouse" under the Pension Benefits Act (PBA) and the Family Law Act (FLA) - For family law purposes, a spouse becomes a "former spouse" first, and then when he/she meets all eligibility requirements for a pension entitlement, he/she becomes an eligible former spouse. In the PBA areas dealing with family law, the FLA definitions of spouse apply instead of the PBA definitions.

Status Indian
Is an "Indian" who is registered under the Indian Act. The Department of Indian Affairs and Northern Development is responsible for determining whether a person is entitled to be registered as an "Indian". Upon registration under the Indian Act, a Status Indian receives a Certificate of Indian Status.
Survivor pension

Is a monthly amount paid to an eligible spouse or eligible child after a member's death. Survivor pensions are payable for an eligible spouse's lifetime or until a child no longer meets the age, educational, or disability requirements. They also receive yearly cost of living adjustments for as long as they are payable.

Ontario's Pension Benefits Act requires that the Public Service Pension Plan provide your eligible spouse with a lifetime pension after you die of at least 60% of your pension. To offset the cost of paying this survivor pension to your spouse, the pension you receive will be actuarially reduced. You and your spouse can choose to waive your joint and survivor pension to 50% and the pension you receive will not be actuarially reduced. The Pension Estimator automatically uses the 50% option. Contact OPB for more information about survivor pension options.

For more information on death benefits, please read our booklet, Planning today for tomorrow (PDF).

If you ended your spousal relationship - Pension entitlements shown in e-services DO NOT reflect any domestic contract (i.e., separation agreement) you and your former spouse have signed.

If you have split your pension for spousal relationship breakdown - Pension estimates shown display 100% of the pension you have accrued and DO NOT reflect the Family Law Value (the "imputed value") that may have been transferred to a former spouse.

For more information, please read Spousal relationship breakdown.

Total Justices of the Peace service credit
The projected total pension credit in years and months earned, including any past service purchased, while serving as a Justice of the Peace. This credit takes into account your date of appointment and membership while contributing to the PSPP. The Supplemental Pension Plan for Justices of the Peace provides benefits in addition to the PSPP, based on the eligible Justices of the Peace service credit.
Transfer Agreement
Includes reciprocal transfer agreements and the transfer provisions with the OPSEU Pension Plan.
Unreduced pension

A pension that starts before age 65 and is not subject to an age reduction. You can receive an unreduced pension under one of these early retirement programs if you have the required combination of age and pension credit.

Factor 90 age + pension credit = 90+
60/20 age 60 + with 20+ years of pension credit
OPP 50/30 OPP officer age 50+ with 30+ years of pension credit
YBE
Year's Basic Exemption
Year's Basic Exemption (YBE)
The salary rate at which members start paying Canada Pension Plan (CPP) contributions. Canada Revenue Agency (CRA) sets this rate each year. For 2018, the YBE is $3,500.
YMPE
Year's Maximum Pensionable Earnings
Year's Maximum Pensionable Earnings (YMPE)
The salary rate above which members do not pay Canada Pension Plan (CPP) contributions. CRA sets this rate each year. For 2018, the YMPE is $55,900.