How it works

We understand you’re likely going to change jobs a few times throughout your life, and that may mean working with new employers. In certain circumstances, you may be able to transfer credit earned in the pension plan of a previous employer into the PSPP.

How does transferring credit work?

The PSPP has agreements with several other pension plans. These agreements, known as reciprocal transfer agreements (RTAs), allow eligible members to move pension credit from one participating plan to another without the need to complete a buyback.

The PSPP is covered under a number of RTAs including:

• The Major Ontario Public Sector Pension Plans (MOPPs) multilateral RTA
• Bilateral RTAs concerning transfers between the PSPP and various other Canadian pension plans

What are the benefits to transferring credit?

Moving your credit to the PSPP will help increase the value of your pension because:

• Your pension is based on your average annual salary and pension credit – the more credit you have, the bigger your pension will be
• Any credit you get from the transfer may help you retire earlier with an unreduced pension