Retirement Planning

Retirement is a big step for most teachers, involving many decisions. While planning should begin several years before retirement, final preparations should begin at least six months in advance of your scheduled retirement date. Here are some resources to help you plan for a successful transition to retirement. Remember, three months before your retirement date you should contact the Ontario Teachers' Pension Plan (OTPP) at 416-226-2700 or 1-800-668-0105 to obtain a personalized pension application form. You can also begin the pension application process through your secure online IACESS account at Staff at the OECTA Provincial Office are available to help you find the answers you need. Call 1-800-268-7230 or email

Four Steps to Successful Retirement Planning

Are you retiring this year? Planning to retire is one of the biggest decisions you’ll make in your career. To ensure that you understand the process, OECTA offers Retirement Planning and Pension Seminars to members across the province. If you haven’t been able to attend a seminar, here are some of the basic steps you need to undertake to get started on your transition to retirement.


Contact the Ontario Teachers’ Pension Plan (OTPP) by telephone (1-800-668-0105) or online through the OTPP iAccess Web, a secure, members-only section of the OTPP website. It is advisable to give OTPP three months notice of your resignation to avoid delays in your pension, however, the online application process can be completed in half the normal time. OTPP will send you either through mail or iAccess the relevant forms and direction. Be sure to provide OTPP with any updates to personal and contact information.

STEP TWO: Inform Your Employer

Provide a letter of resignation/retirement to your employer once you are certain of your retirement date. If you are unsure of who your letter should be addressed to (i.e., Superintendent of Human Resources or Director of Education), inquire with your local unit office. We advise members to put the last day of the month as their retirement date. OTPP will use this date as the start date for your retirement and your pension payments will begin the following month. If you put the first of the next month you will miss that month’s pension payment. Your first pension cheque will arrive by the last business day of the month following the month in which you retire. For example, if you retired effective June 30, your first pension cheque is July 31. If you retire on March 17, your first pension cheque is April 30. The Pension Board will send you a summary of deductions with your first pension cheque. After that, a new summary will only be sent when the amounts change – that is, each January when your pension increases due to the inflation adjustment provision. Be sure to check your local collective agreement to see if there is a timeframe for giving notice stipulated in your contract, OTPP will require confirmation from your employer of your retirement date in order to proceed with your pension application. If you are entitled to a retirement gratuity payout, reference the relevant article in your collective agreement and state your expectation of payout.

STEP THREE: Submit the Following

You will be required to send the following documents to OTPP (photocopies are acceptable) along with the completed pension application they sent you:

You may also want to use the pension calculator to confirm your estimated pension and review your survivor pension options (if applicable) – to help set your budget for retirement.

STEP FOUR: Enjoy your Pension

Relax and enjoy your pension. Inform the OTPP of any changes such as in address, bank account or tax deductions, whenever necessary. Make sure you keep copies of all documents that you send to anyone. If you have questions about your retirement planning, speak to your unit president or contact OECTA’s provincial office at 1-800-268-7230 or

Retiree Health Benefits

Ontario Teachers' Insurance Plan is a non-profit organization directed by a Board of Trustees consisting of two representatives from each of the four education affiliates: AEFO, ETFO, OECTA and OSSTF. As a non-profit trust, OTIP’s Retired Teachers Insurance Plan (RTIP) offers three comprehensive health care plans for retirees through Manulife Financial. Premiums are payable in the same month that coverage starts. You can apply for coverage through OTIP within 60 days of the date that any existing coverage through any group employee health plan ceases.

For more information, contact:
125 Northfield Drive West
PO Box 218
Waterloo ON N2J 3Z9