Retirement Process Overview


  1. Attend OSSTF Toronto Ontario Teachers’ Pension Plan seminar and Ontario Teachers Insurance Plan /Educators’ Financial Group Benefits and Financial Planning seminar to ensure the following steps make sense (see attachment below for info).
  2. Check Ontario Teachers’ Pension Plan and Canada Pension Plan estimates.
  3. Check gratuity options/tax implications with a financial planner/ Educators Financial Group.
  4. Decide on “survivor benefit” option and “10 year survivor guarantee”.
  5. Decide on retirement health and/or dental insurance coverage with Ontario Teachers Insurance Plan / other insurers and enroll before your retirement/last day of work.
  6. Check your eligibility for Canada Pension Plan child rearing drop-out provisions.
  7. Determine the end of the month date you plan to retire (you can give as little as 2 weeks notice).
  8. Consider joining Active Retired Members Chapter 12 Toronto for “Edvantage Discount Program”, etc.
  9. Ontario Teachers’ Pension Plan suggests applying for pension 3-4 months in advance and Toronto District School Board Employee Services will not send out your documentation package that facilitates retirement until you send an irrevocable letter re your intent to retire. See Toronto District School Board’s “Retirement Planning Guide”.
  10. Double check with the OTPP that they have processed all the necessary documents and that your pension will indeed start in the month expected.