Pensions to increase on January 1, 2020

November 21, 2019
1 minute read
Pensions to increase on January 1, 2020

OPB is pleased to announce that the cost-of-living adjustment (COLA) for 2020 is 2%. You will receive your Retired Member Statement with your personal annual cost-of-living adjustment in January 2020 with the breakdown of your gross monthly pension for the year that includes COLA. You can also learn more about COLA on our Inflation Protection/COLA page.

You can view your letter in e-services starting January 11 and anytime during the year. In early February, you will be able to view your T4A or NR4 for 2019 through your e-services account too.

To help you plan for your 2020 pension payments, we've posted pay dates for next year on our Pension pay dates page. We've also included information on how you can sign up for direct deposit for your pension payments – whether you live in Canada, the U.S. or another part of the world.

With the end of the year approaching, here are some items you may also want to consider:

  • Has any of your personal information changed? Please update us! Visit our online e-services to update your personal information including your address, marital status, and more.
  • While you’re there, please review your beneficiary information and make sure they are up-to-date.
  • If your 65th birthday is in 2020, note that your PSPP early retirement bridge benefit will end at the end of the month when you reach age 65.
  • If you're holding on to medical and dental submissions for 2018, you may have until the end of 2019 to submit them for reimbursement. Visit our Insured benefits page for more details.

A few quick e-services reminders:

  • If you haven’t already registered for e-services, go to our website at OPB.ca, click Login at the top-right corner of the page and follow the steps online.
  • Review your contact information in your letter to ensure it is up-to-date. If you need to make any changes, you can update your information online through your e-services account.

Are you a TVO member?

For our TVO pensioners, your cost-of-living adjustment (COLA) for 2020 is 1.87%. You will receive your personal cost-of-living adjustment letter in December 2019 with the breakdown of your gross monthly pension for the year that includes COLA. You can also learn more about COLA on our Inflation Protection/COLA page.

We need your emails! If you haven’t yet shared your email address with us, please do — next year we will be able to send your COLA update even sooner. We will also be able to send you important information promptly, and you can opt in to receiving other OPB news that we think will be of interest to you. Contact us at 416-364-5035 or toll free (Canada and U.S. only) at 1-800-668-6203 to add your email address to your file.

Are you the survivor of a pensioner?

Your personal annual COLA letter for your survivor pension will be mailed to you in mid-December. The letter contains a breakdown of your gross monthly pension for the year that includes COLA.

Contact us

If you have any questions about any of this information, our Client Care Centre is ready to assist you. Call us at 416-364-5035 or toll free (Canada and U.S. only) at 1-800-668-6203.