OPB News for Retired Members
According to CBC, at least 60,000 Canadians have been targeted by a Canada Revenue Agency phone scam over the past five years and more than $10 million dollars has been stolen in that same time period, making it one of the largest cyber scams in Canadian history.
Further to that, Canadians aged 65 and older represent the fastest growing group of Internet users today with 70% of online seniors visiting the web on a daily basis. Of those online, 64% report they’ve been targeted by online scams, including tech support, tax, sweepstakes and “relatives in need” scams.
Here are some tips to help protect yourself against phone and online scams:
- Ask before you act – If you receive a suspicious email or call, pause and ask yourself if the email or call seems legitimate. Taking preventative steps such as checking with someone you trust or calling your bank to verify information can save you from being scammed.
- Update your security software – Make sure your computer has the latest security software, including antivirus and malware.
- Delete any suspicious emails – If you receive an unusual-looking email, don’t click on any links and instead delete it. If the email was from someone you actually know, they’ll either try again or find another way to get in touch with you.
- Be cautious online – If you’re signing up for something online, including contests, social networks and websites, don’t share any personal information unless you’re sure the recipient is reputable. Only give your credit card information to websites that are trustworthy and secure (look for “https” in the website address and the lock image).
- Revisit your passwords – Use strong passwords, change them periodically and try not to use the same password for all logins. To help keep track of your passwords, try using a password manager or vault. To learn more, PCMag.com put together a summary of the best password managers of 2018.
- Don’t overshare and screen your friend requests – Be selective about what information you share with your followers on social media. Beware of accepting “friend” or “contact” requests from people you don’t know. Protect yourself by using the security and privacy settings in your profile to keep personal or sensitive information as private as possible.
- Remember to log out – Be sure to log out at the end of your session and clear your cache regularly.
For more information about cyber security and to stay updated on the latest news, check out Public Safety Canada’s website at www.PublicSafety.gc.ca. To report a scam or fraud, visit Consumer Protection Ontario at www.Ontario.ca.
[Sources: CBC.ca, ibid, ProtectSeniorsOnline.ca]
If you’re thinking about returning to work after you retire, it’s important to understand how your re- employment earnings can impact your PSPP pension.
What you need to know
If you return to work for a PSPP employer and you don’t rejoin the Plan, there are limits on the amount you can be paid in any calendar quarter before your pension is affected. This is referred to as the “quarterly re-employment earnings limit”. That means, if your gross earnings in any calendar quarter exceed your quarterly re-employment earnings limit, you’ll need to repay a portion, or all, of your pension for the period to us. We refer to the amount you must repay as a “pension overpayment.”
What’s your limit?
To find out what your quarterly re-employment earnings limit is, revisit your Confirmation Statement that we mailed you when you retired or the letter you received when you turned 65. You can also call us to confirm what your re-employment earnings limit is.
Here’s how we calculate your quarterly re-employment earnings maximum:
3 X (final month’s salary minus monthly pension)
Here’s an example:
|Final month’s salary (based on your annual salary rate)||$5,000|
|Minus your monthly pension||$3,000|
|Multiply that amount by 3||X 3|
|Equals your quarterly earnings maximum||$6,000|
If you retire early, you will be receiving the early retirement bridge benefit until age 65. Your quarterly earnings maximum will be different while receiving the bridge benefit and after age 65 when the bridge benefit stops.
We’re here to help
If you’re considering returning to work for a PSPP employer, we can help. We’re here to answer any questions you may have about how your pension could be affected. Please give us a call at 416-364-5035 or toll-free at 1-800-668-6203 and we’d be happy to help you.
For more information, read the “Returning to work” page.
At OPB, we’re committed to delivering exceptional service to our members.
We’ve enlisted the support of Ipsos, a trusted global leader in market and opinion research, to help us get your feedback on how we’re doing.
Each month, Ipsos acts on our behalf to contact randomly selected members who have recently been in touch with OPB for a telephone survey. These telephone surveys help us understand what’s important to you and how we can improve our services.
OPB does not share any confidential information, or any details of your interaction with us, with Ipsos.
If you are selected to participate, you will receive a call from 416-847-9020 and the caller will identify themselves as Ipsos, calling on behalf of OPB, to request feedback on your recent service experience.
You’re not obligated to participate in a survey for us — you can decline participation at the beginning of any call from Ipsos — however, we definitely appreciate your feedback if you’re willing.
If you prefer to not be contacted by Ipsos for our survey, call our Client Care Centre at 1-800-668-6203 or send an email to email@example.com, and we will ensure you aren’t included in the survey calls.
You can also contact us if you have any feedback or suggestions you’d like to share — we would love to hear from you.
The new OPB.ca is a direct result of working with you – our retired members – to enhance the way we speak about your pension and the retirement planning process. Through focus groups and feedback sessions, you helped inform our choices on everything from design to content.
A quick overview
- We’re focused on you – Content is structured around the changes in your life such as relationship changes, loss of a loved one, and planning for your retirement, to name a few.
- Expanded retired member section – More relevant information on financial and estate planning, returning to work, insured benefits and optional upgrade coverage.
Check out some new features
- Timely and relevant updates – The banner of rotating images on our home page features timely and important information you can quickly access with a simple click.
- Quick Links – This section on our home page links to common and popular pages so you can quickly find the information you’re looking for.
- Mobile/tablet friendly – Our responsive design features will automatically resize to your device. Go ahead, visit us on your smartphone!
- Accessibility focused – Our website includes more accessible features, such as higher contrast ratios and bigger font, so you can easily find the information you’re looking for. It’s also compatible if you’re using an assistive reading device.
Warm summer days always seem to feel so far away when you’re surviving the bitter cold.
Despite the dark days of winter, there are many ways you can stay active and boost your mood. Exercising has many benefits including building strength, increasing energy levels, and sleeping better. It’s also a great way to stay engaged with your community.
Below are a few suggestions to consider:
- Join a gym or community centre – Yoga, Pilates, Tai Chi, dance, and swimming are just a few of the many different classes you can take advantage of. Not only will you feel energized and stronger after, it’s a chance to connect with others who share a passion for fitness.
- Take advantage of winter activities – What better way to celebrate winter, than to get outside and do some cross-country skiing, snow shoeing, winter hiking, or skiing. These are just some examples of different ways you can remain active with the added benefit of being outdoors.
- Walking – As simple as it sounds, taking a 30-minute walk a few times a week can stimulate chemicals in your brain that will leave you feeling happier and more relaxed.
- Explore the arts – Visit a museum or an art gallery and take a walking tour of the latest exhibit. It’s a great way to enjoy the arts and culture in your city and get your steps in at the same time. Check out a list of Ontario’s museums and art galleries at www.OntarioTravel.net.
- Create a home routine – Especially in the winter, it can be tempting to stay in, but that doesn’t have to stop you from doing a workout in the comfort of your home. All you need to get started is a yoga mat and some light weights. Speak with your doctor or physiotherapist first to determine the best workouts for you.
Show us how you're staying active in retirement!
Send us a photo to be featured in our next issue. Email us at firstname.lastname@example.org.
At the end of the day, everyBODY is different. You know your limits better than anyone else. Speak with your physician first to determine what exercises are right for you. The Canadian Physical Activity Guidelines includes some helpful information on activities and intensity levels for seniors of all levels of mobility, including activities that maintain bone health, and enhance balance and range.
[Sources: MayoClinic.org, VitalitySeniorLiving.com, GlobalNews.ca]
As a retired member receiving a PSPP pension, you have access to our secure e-services.
Below are some important personal items you should keep updated through your account:
- Mailing address, telephone and email – We will mail information to the address we have on file, so it’s important to verify that your contact information is correct. Your address updates are effective as soon as you submit them.
- Beneficiaries – It’s a good idea to regularly review your beneficiary designations to ensure they are still applicable. Using e-services allows you to update your beneficiaries whenever you need to.
What else can you do in your e-services account?
- View your Retired Member Statement – You can view your personalized Retired Member Statement by logging into e-services. You can also view your T4A when you’re logged in.
- Managing your account – You can sign up for e-alerts to receive important updates from us and can make changes to your profile when needed. If you need to go back and look at your past e-services activity, you can do so for each of the last 18 months or for the last 30 activities.
- Forgot your password or user ID? Go to the e-services login page (available at the top right corner of our website) and look for “About e-services”.
Things to consider
- If you need to update your spousal status or your banking information, please send us an OPB1004 – Retired Member Information Change form.
- If you are acting as a Power of Attorney, please contact us.
Click “Login” at the top right corner and follow the steps online to get your account set up. If you have any issues registering, contact us at 1-800-668-6203 or 416-364-5035 or email us at email@example.com.
OPB News provides general information relevant to PSPP members. This publication is not to be relied on as legal, financial or tax advice. Please note that if there is any conflict between the contents of OPB News and the legal documents governing the PSPP, the legal documents governing the PSPP will prevail. For detailed and personalized advice about the PSPP, or retirement planning more generally, please contact one of OPB's Client Service Advisors. You can do this by logging into e-services and using the Book my 1-on-1 feature.