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OPTrust, officially the OPSEU Pension Trust, [2] is a legal trust formed by the contractual agreement between the two plan sponsors, Ontario Public Service Employees Union and the Government of Ontario. [3] It manages one of Canada's largest pension funds and administers the OPSEU Pension Plan. [4]
It is designed to provide up to 15 per cent of a retiree's pre-retirement income as an annual pension, adding about the same amount as the Canada Pension Plan (CPP) for those who have contributed to both plans. Employees and employers would each contribute 1.9 per cent of an employee's income up to a maximum of $90,000 of income per year.
The Ontario Pension Board in Canada is an independent organization responsible for administering defined-benefit pensions for certain employees of the provincial government and its agencies, boards, and commissions. [1]
The Ontario Municipal Employees Retirement System [3] (OMERS) is a Canadian public pension fund, headquartered in Toronto, Ontario.OMERS is a defined benefit, jointly sponsored, multi-employer public pension plan created in 1962 by Ontario provincial statute to administer retirement benefits and manage pension investment funds of local government employees in the Canadian province of Ontario.
Ontario regulates approximately 8,350 employment pension plans, which comprise more than 40 per cent of all registered pension plans in Canada [1] It was originally enacted as the Pension Benefits Act, 1965 (S.O. 1965, c. 96), and it was the first statute in any Canadian jurisdiction to regulate pension plans.
Defined benefit plans guarantee a specific retirement benefit to plan members, based on a formula that takes into account factors such as the member's years of service and earnings history. These plans are typically funded by contributions from both the employer and the employee, and are managed by professional investment managers.
Japan – National Pension; Malaysia: Employees Provident Fund – Private voluntary retirement contribution system; Retirement Fund – Public pensions; Armed Forces Fund Board – Military pensions; Mexico – Mexico Pension Plan; Netherlands – Algemene Ouderdomswet; New Zealand: New Zealand Superannuation – public pensions
In 2001, Ontario Teachers' Pension Plan and Caisse de dépôt et placement du Québec were the sole two investors in a US$360 million fund raised by Canadian company Cordiant Capital. [16] Ontario Teachers' also owned Camelot Group PLC , which held an exclusive licence to operate the UK National Lottery until January 31st 2024.