Upcoming mailings for retired members - What to expect in June
This month, we will be sending two information packages to pensioners in the mail:
- An Optional Upgrade Package for Insured Benefits (mailing between June 6-13) to all eligible retired members and survivors
- A Retired Member Statement along with our first edition of OPB News for Retired Members (mailing between June 16-21) to all retired members
Optional Upgrade Package
As the Government of Ontario announced late last year, certain retired PSPP members and survivors who qualify for post-retirement insured benefits will now be eligible to enrol in an optional upgrade package for coverage starting in August 2017.
Eligible pensioners who are part of the Legacy Plan can enroll in Optional Upgrade Package Plan A while pensioners who are part of the Retiree-Focused Plan can enroll in Optional Upgrade Package Plan B. Details on the contents of each plan can be found in the online fact sheet (PDF) and pamphlet (PDF) provided by the Treasury Board Secretariat.
Eligible retirees and survivors in the PSPP may apply for coverage at any time. In order to receive coverage beginning on August 1, 2017, OPB must receive your application by July 31, 2017. For any applications received after that date, coverage will begin the month after OPB receives the completed application form (PDF), which can be accessed online and is included in the mailed Optional Upgrade package.
An overview of the Optional Upgrade packages as well as a list of Frequently Asked Questions (FAQ) about the Optional Upgrade Package can be found in the Retired Member section of the OPB website.
Retired Member Statement (RMS)
Starting this year, retired members of the PSPP will receive their first Retired Member Statement - a new communication that OPB is introducing to provide retired members with information about their pension entitlement. The Statement will replace the annual cost-of-living-adjustment (COLA) letter we previously sent each January. Survivors will continue to receive a COLA letter at this time. Your Retired Member Statement includes all the important information you used to see in that letter, as well as some additional information.
Beginning in 2018, you will receive your Statement every January. Your Statements will be also available in your e-services
(opens in a new tab) account once they have been mailed.
Along with your Statement, we will also be sending you our first edition of OPB News for Retired Members with articles we believe will be of interest to you.