If you participated in the 2017 OPSEU Ontario College Faculty strike between October 15 and November 19, 2017, you will be able to purchase the pensionable service lost during the strike starting in June. The cost of the purchase is based on your annual rate of pay on the day before the strike began (inclusive of any collectively bargained retroactive adjustments in pay rate) and the contribution rate at that date.
Starting in June, you will be able to purchase the strike service based on the processes that applies to you:
1. Unless you fall into one of the tables, below, you will receive a strike purchase package directly from the CAAT Plan in the mail. The package includes a strike purchase form showing the cost to purchase the period of service. If you decide to make the purchase, send the completed and signed form, along with full payment (by cheque or through RRSP transfer) to the CAAT Pension Plan.
2. Contact your employer directly only if you were on strike and you work at:
3. Contact your employer directly only if you were on strike, you are other than regular full-time, and you work at:
Making your choice
Only you can decide if a service purchase is right for you. Prior to finalizing your decision, you may wish to seek professional financial advice.To understand the impact of lost service on your pension, review the insert included with your 2017 Annual Statement, and visit the following web pages:
- Visit the 3-Step Pension Estimator to estimate your pension with and without pensionable service related to the strike.
- Visit Increasing your service to watch a recording of the 2017 Strike Service Purchase webinar. This webinar took place on December 13, 2017, and provided an overview of the strike service purchase process and timing.
- Visit Purchasing service and read the Strike Purchase FAQ to find answers to the questions you may have about purchasing strike service.
The strike purchase process starts in June. If you choose not to make the purchase at that time, you can do so at any time prior to the end of employment. However, if you return to work with a participating employer at a later date, you can make the purchase at that time as well. The cost will not change regardless of when you make the purchase.