Pension Plan: OPSEU Local 560

OPSEU Local 560

Pension

CAAT-A Pension Plan

Strike-Related Pension Buyback

The OPSEU Local 560 reimbursement for the college portion of a faculty member's pension buyback is a strike benefit available to strikers who retire within five years of the 2006 strike. To be eligible, members must have performed strike duties or received an accommodation from the strike committee. The Local will reimburse eligible faculty at the time of their retirement.

Since our pension is calculated on the highest 60 contiguous months of earnings, faculty who retire more than 60 months after the strike (i.e. April, 2011) should not need to buy back their pension at this time and will not be reimbursed by the Local should they do so.

If you are seeking reimbursement for your pension buyback, the Local will require:

a copy of your "2006 Work Stoppage Purchase of Pensionable Earnings" form,
a copy of your cancelled cheque for the buyback, and
a copy of the official confirmation of your retirement date .

Please send this information to the Local 560 Treasurer, Paul Matson at the union office: 2942 Finch Avenue East, Suite 119, North York, Ontario M1W 2T4.