OPB News for Members

OPB’s e-services portal(opens in a new tab) provides a secure, convenient way to manage your pension and connect with us online. If you haven’t already registered, we encourage you to sign up and take advantage of the many benefits, including:

• Retirement planning tools
• Easily updating your personal information
• Secure Document Upload feature
• The option to receive your APS online
• The ability to book a one-on-one meeting with a Client Service Advisor
• Signing up for e-alerts to receive more timely updates

Registering for e-services is easy

1. Visit the e-services registration(opens in a new tab) page.
2. Enter your OPB client number and follow the steps to verify your identity using a one-time email code.
3. Create your username, password, and security question, then accept the Terms of Use.
4. Choose and set up your preferred multi-factor authentication (MFA) method to complete registration.

Once registered, you can log in anytime to access your pension information and online tools.

How do I change my password?

To change your password, on the login page click “Need help logging in?” and select “Forgot password?”. From here, select your preferred authentication method (voice call or email) to receive a one-time code to reset your password.

How do I add beneficiaries?

Once you’re logged into your account, on the homepage click on “Profile” and select “Beneficiaries”. Under “Update your designated beneficiary(ies) or estate trustees”, click on “Name a designated beneficiary” or “Add an estate trustee”. Once you have filled out the required information, click Review and submit.

Under 'Profile', you can also update your personal and contact information.

Need help?

If you need assistance with e-services, contact OPB at 1-800-668-6203, Monday to Friday, 8 a.m. to 5 p.m., or email us at clientservice@opb.ca.

OPB is excited to announce that our new Retirement Planner is now available to all Active, Deferred and Retired members!

The Retirement Planner is a comprehensive tool that helps you build a clear, personalized retirement snapshot that reflects your financial picture, including your estimated Public Service Pension Plan (PSPP) pension, government benefits such as Canada Pension Plan (CPP) and Old Age Security (OAS), any personal savings and investments, and expenses and debt.

How you can use the Retirement Planner

Active members: Model different retirement dates, explore “what if” scenarios and see how changes may impact your overall retirement snapshot.

Deferred members: See how your PSPP pension fits into your overall retirement snapshot based on your Normal Retirement Date (age 65). You may have the option to select an Early Unreduced Retirement Date, if applicable.

Retired members: View your current PSPP pension amount, explore budgeting options and see how adjustments may impact your plan over time.

The tool, developed with our partners from Planworth, was designed to be used by you on your own or as part of a 1-on-1 session with one of OPB’s Certified Financial Planners, who can use the Retirement Planner to help build a robust retirement plan that reflects your retirement and financial goals in the context of your personal circumstances. It is now available to Active members through our e-services portal(opens in a new tab).

Some key benefits include:

• Personalized Retirement Snapshot: Build a personalized snapshot of your overall retirement income and outlook that is pre-populated with information that we already have on file for you, along with key financial details that you provide.
• Visual Projections: View a year-by-year breakdown of your estimated retirement income, helping you make informed decisions about when to retire.
• Scenario Exploration: Explore different “what if” scenarios to see how changes such as spending goals could impact your plan.
• Save and Compare: Your information is saved in the tool, so you can compare scenarios and revisit and update your plan at any time.
• Advisor Support: Begin planning on your own, or if you choose, you can book a 1-on-1 meeting with an OPB Advisor. They can seamlessly continue from where you left off in the tool, using the information that you already entered to provide unbiased guidance, and support you in preparing for a secure and successful retirement.

Whether you prefer to plan independently or in partnership with an OPB Advisor, the Retirement Planner helps you make informed decisions with confidence.

How to access the retirement planner

The Retirement Planner tool is available in your e-services account. If you don’t have an account set up yet, click here to register(opens in a new tab).

• For Active/Deferred members: Access it by selecting “Planning” and then “Create a retirement plan”.
• For Retired members: Access it by selecting “Planning” and then “Manage your retirement plan”.

How to get started

The time it takes you to set up your plan will vary depending on your personal financial situation and whether you’re planning for yourself or with a partner. The more information you provide, the more thorough your retirement projection will be. We recommend that you gather the financial information listed below for you and your spouse, if applicable, before you start a plan.

1. Account balances, including:
   • Bank accounts, such as chequing and savings
   • Investment accounts, such as non-registered accounts and Tax-free Savings Account (TFSA), including TFSA carry-forward room and year-to-date contributions.
   • Retirement accounts, such as a non-PSPP defined benefit pension, a defined contribution pension, Locked-in Retirement Account (LIRA) or Registered Retirement Savings Plan (RRSP). You will have the option to include your RRSP deduction limit/carry-forward room and year-to-date contributions.
   • Other accounts, such as Registered Education Saving Plan (RESP), First Home Savings Account (FHSA) or participated in the Home Buyers’ Plan (HBP)
2. Debts, including mortgage, credit cards, Home Equity Line of Credit (HELOC) and other payable loans.
3. Other information such as your annual PSPP pension contributions, your annual pension adjustment, insurance products and estate planning documents.
   
   The following applies to Active members only
4. Pension adjustment
   • There are two ways to find this information:
     • Review your Notice of Assessment for the prior year, which you can access by logging into the CRA My Account(opens in a new tab) or by reviewing the paper copy mailed to you. There will be an item called "Minus: Pension Adjustment"; or
     • Review your prior year’s T4 Slip issued by your PSPP employer (Box 52).
5. Pension contributions
   • Defined benefit pension contributions are typically amounts that are calculated and deducted from each pay period by your PSPP employer. These are contributions that you made (not contributions made by your employer).
   • You can find this figure on any pay stub and then multiply it by the total number of pay periods in a year to arrive at an annual amount.

Start planning today for a more confident tomorrow!

Important notice

The Retirement Planner is for illustration purposes only. The values shown in the Retirement Planner are estimates designed to provide you with the opportunity to forecast your retirement income and should not be relied upon as legal, tax, investment, or other professional advice. The projected PSPP pension amount that appears in the Retirement Planner is an estimate only. Your actual pension amount will be determined at retirement, based on confirmed salary and contribution data reported by your Employer, your personal circumstances at that time, as well as the terms of the PSPP and any other applicable legislation in place at that time.

The Retirement Planner collects your personal information to help you build a personalized snapshot of your estimated retirement income. Learn more about how we protect your personal information:

• OPB's Privacy Policy (PDF) and Terms of Use
• Planworth’s Terms of Use(opens in a new tab)

This article was originally published on December 8, 2025, and updated on May 6, 2026.

Around the world, people are now living longer, healthier lives, helped by advances in healthcare and changing attitudes toward wellness. Extended life expectancy, and the number of years people can expect to live well, is a positive step for individuals and communities – and has important considerations for retirement income and pensions.

Living longer means more time drawing retirement income, and retirement is increasingly a substantial and active phase of life that may last 30 years or more. Ensuring your pension remains secure and sustainable is central to OPB.

How the PSPP prepares for longer retirements

Longer, healthier lives require ongoing preparation to ensure we are well set up to deliver your lifetime pension. At OPB, we regularly review data and work closely with our actuaries to ensure assumptions reflect how members live and retire today.

For example, a 62-year-old member who retired in 2002 would be expected to receive their pension for 21.4 years. By December 2024, a member retiring at the same age would be expected to receive their pension for 26.7 years – an increase of over five years.

As longevity and retirement patterns change, actuarial assumptions are updated as part of an ongoing process that supports the Plan’s long-term sustainability and helps ensure the PSPP can continue to provide secure, predictable income for life.

Your pension through life stages

Many members remain engaged with the Plan through multiple life stages, from early career to retirement and beyond. OPB is focused on supporting members throughout this journey by providing clear information, practical tools, and services that meet members where they are. We recognize that retirement is not a single moment but a transition, with your PSPP pension serving as a stable and dependable part of those years.

Our commitment is to administer the PSPP responsibly today while continuing to provide confidence, stability, and peace of mind throughout members’ lives – no matter how long their retirement.

Inflation refers to the gradual increase in prices over time and usually feels modest on an annual basis. Over the long term, however, it can have a meaningful impact. For those living on a fixed income in retirement, rising expenses may slowly reduce purchasing power unless steps are taken to help offset inflation.

Inflation protection and your PSPP pension

Your PSPP pension is designed with features to help protect you from the effects of inflation throughout retirement. Through annual cost of living adjustments (COLA), your pension may increase over time to better reflect changes in the cost of living. These adjustments help your pension maintain its purchasing power, giving you greater peace of mind that rising prices won’t significantly reduce your income in retirement.

Inflation before retirement

Inflation also matters while you’re working. Higher inflation can affect savings goals, expected expenses, and the amount of income you may require in retirement. OPB’s planning tools, such as the Retirement Planner, can help you factor inflation into your projections by showing how your income, savings, and expenses may change in the future.

Why planning is important

In addition to your PSPP pension, additional government pension benefits like CPP, as well as personal savings and investments, all play a role in helping you manage inflation risk. Understanding how these work together can help you make more informed decisions about when to retire and how much income you might need.

If you want help with pension planning or more information about COLA adjustments or any other PSPP features and benefits, please contact us.

Effective July 1, 2025, changes have been made to the re-employment earnings rules for PSPP members who are at maximum pension age (the end of the year the member turned 71) or older, and who work for a PSPP employer after being required to end their PSPP membership and begin receiving a pension.

Under the amended rules, the quarterly re-employment earnings limit — which previously required retired members to repay a portion of their pension if their earnings exceeded a set threshold (sometimes referred to as a “clawback”) — will no longer apply to these members.

If you:

• Turned or will turn 71 in 2025 or later, the re-employment earnings limit no longer applies as of December 1 of that year, when you are required to start your pension.
• Turned 71 before January 1, 2025, and had to start your pension in a previous year, the re-employment earnings limit stopped applying to you on July 1, 2025.

Note: These changes do not affect the re-employment rules for Justices of the Peace or Associate Judges.

For Generation Z – defined, broadly, as those born between the late 1990s and early 2010s – retirement planning is shaped less by timelines and more by uncertainty. While long-term financial security matters to this generation, increased living costs, student debt, and housing affordability make saving feel challenging during their early careers.

Rewriting the rules

Gen Z also tends to favour more flexible, self-directed approaches to saving. Tools like TFSAs, RRSPs, and low-cost index investing are popular as they offer more portability and control. While pursued cautiously, there also appears to be a growing interest in financial independence strategies within this cohort.

From TFSAs to TikTok: Where Gen Z-ers Learn About Money

When it comes to financial education, for Gen Z this happens more often through popular, peer-to-peer platforms like YouTube, Reddit, Substack, and even TikTok. Here, they look for practical examples, shared experiences, and tools that help them make informed decisions on their own terms.

Your Pension

Retirement may appear far off for Generation Z, but concern about financial security is very real – and we’re here to help. Even if you’re just starting your career, it’s not too early to begin thinking about what your retirement might look like.

Being a member of a DB plan like the PSPP provides you with a reliable, predictable income for life. Because the PSPP handles investing and risk management, you don’t have to worry about managing your retirement savings on your own. This foundation becomes a strong pillar within your broader financial plan, helping create long‑term security and peace of mind.

Login to your e-services account(opens in a new tab) on OPB.ca and sign up for a pension education session or book a one-on-one with one of our Client Service Advisors to discuss your financial future.

When it comes to seeking sound and reliable financial advice, the right choice can make a meaningful difference in reaching your goals. With so many options available, knowing who to talk to and what to look for is essential. If you need some directions, check out our handy reference guide below.

Type of Advice:
Investments

Advisor
Investment Advisor

Things to Consider

• Registered with a regulatory body, such as the Canadian Investment Regulatory Organization or the Ontario Securities Commission.
• Compensation structure is made clear (fee- or commission-based).
• Experience with and knowledge of using tax-efficient accounts (e.g., TFSA, RRSP).
• Provides clear and regular reports on investment performance and fees.

Type of Advice:
Tax

Advisor
Chartered Professional Accountant (CPA)

Things to Consider

• Currently in good standing with their CPA body (e.g., CPA Ontario).
• Offers proactive tax planning in addition to filing annual returns.
• Pricing structure is clearly provided (flat fee or hourly).
• Provides good client service by being responsive during tax season and to any CRA inquiries.

Type of Advice:
Pensions and retirement

Advisor
Certified Financial Planner (CFP®)

Things to Consider

• Are licensed as a CFP® through FP Canada.
• Have knowledge of retirement programs and benefits like CPP, GIS and OAS.
• Holistic planning that considers retirement goals, taxes, estate needs, and any insurance coverage.
• Work closely with your other advisors like your CPA and estate lawyer to ensure coordinated planning.

Type of Advice:
Estate Planning

Advisor
Estate lawyer

Things to Consider

• Currently licensed by and in good standing with a provincial law society such as the Law Society of Ontario.
• Have a focus on law related to estate planning and administration.
• Regularly review and update documents to reflect changes to the law.
• Expertise in tax‑efficient estate planning, including capital gains and spousal rollover strategies.

Reducing your carbon footprint doesn’t require major lifestyle changes. Small, thoughtful choices can add up to meaningful environmental impact, while often also saving you time and money.

Make energy-smart choices at home

Energy use at home is one of the biggest contributors to household emissions. Simple steps like switching to LED lighting, using energy-efficient appliances, and adjusting your thermostat by a degree or two can significantly reduce energy consumption. If available, you can choose renewable or green energy options to further lower your impact.

Rethink how you get around

Walking, cycling, carpooling, or using public transit whenever possible can significantly reduce your carbon footprint. If driving is necessary, combining trips, maintaining proper tire pressure, or driving a more fuel-efficient or electric vehicle can make a big difference over time.

Be mindful of everyday consumption

What we buy, and how much we buy, matters. Choosing durable products, repairing items when feasible, and reducing food waste can all help lower emissions. Recycling and composting properly, and opting for reusable bags, bottles, and containers, are simple habits that support long-term sustainability.

Use your influence at work and in your community

Small actions can extend beyond your home. By supporting workplace sustainability initiatives, choosing paperless options, and encouraging environmentally responsible practices in your community, you can help your individual efforts have a larger impact.

Did you know?

OPB and our investment manager, the Investment Management Corporation of Ontario (IMCO), are committed to integrating sustainability into both operations and investment decision-making by considering environmental, social, and governance (ESG) factors. By incorporating ESG considerations into its investment approach, IMCO aims to better manage investment risks and identify opportunities that support long-term, sustainable value.

To learn more, take a look at our ESG report.