Annual Pension Statements Mail Out June 6th

No. 97

Important Announcement: Annual Pension Statements to be mailed out June 6, 2008

Each year, OPB prepares and mails out an Annual Pension Statement to all members of the Public Service Pension Plan. This year, we will be mailing the statements on June 6, 2008.

What is an Annual Pension Statement?

The Annual Pension Statement provides members with a snapshot of their pension as of December 31, 2007. More importantly, it projects how much pension the member might receive in the future (based on certain assumptions).

Every member will also receive a Guide to their Annual Pension Statement, which will walk them through their statement.

We urge members to read the Guide along with their statement. The Guide explains the key assumptions used to estimate the member's pension, many of the terms that appear on the statement, various plan provisions, and the options available to individual members when they retire. We do ask members to keep in mind that the estimates provided on their statement are just that - estimates. Their actual pension benefit will be determined at retirement.

Both the Guide and the statement direct members to contact us with any questions or concerns about their personal statement.

What does this mean for you as an employer?

Members may approach you with questions or concerns that they have about their Annual Pension Statement. Please direct all members to contact OPB's Member Services at 416-364-5035 or Toll Free (Canada & U.S.A.) 1-800-668-6203.

Our team in Member Services will be happy to walk the member through their statement, answer any questions they may have, and, if necessary, make any corrections to the member's information.

Questions?

Should you have any questions, please contact Steve Reis, Employer Relations Specialist at 416-601-3967 or steve.reis@opb.ca.