As teachers, you are dedicated to learning and teaching others. Strengthening your financial literacy and understanding your Teachers’ Pension Plan (TPP) are powerful ways to invest in your future.
We want you to feel confident and informed about the benefits your pension plan offers. Our website provides many resources to support your financial literacy. Below are a few important highlights of your pension plan.
- You’re a member of a defined benefit pension plan. This means that upon retirement, you will receive a secure, predictable monthly pension for life.
- Wondering how much your monthly pension will be? You can use the retirement modelling tool found in myPENSION to project your retirement income and help you prepare for the future.
- Your pension provides a survivor benefit. It can provide essential financial protection and stability for your eligible beneficiary.
- You can take steps to maximize your pension.
- Were you a substitute teacher? You can increase your pension by transferring your substitute time from GMPP into the TPP.
- Were you a teacher in another province or part of another defined benefit plan? You may be able to transfer your previous pension into the TPP.
- Did you take time off for education, maternity or parental leave? You can buy back the time you missed, so it counts toward your pensionable time – helping you retire without extending your career.
- Were you a substitute teacher? You can increase your pension by transferring your substitute time from GMPP into the TPP.
Understanding your pension as you progress through your career can help ensure you make the most of your retirement. We’re here to support you on every step of your journey. If you have questions, our team is here to help. Contact us today!