April 9, 2013
OTF: Changes Preserve Pension Accrual During Sick Leave and Unpaid PA Days
OTF and the Government have agreed to further changes to the Teachers’ Pension Plan that will protect the pension benefits of Plan members affected by certain provisions of Bill 115 (now repealed).
Plan amendments have been made so that both sick leave (at less than full salary) and unpaid professional activity days will not reduce the pension credit and pensionable salary for affected Plan members. In both cases, employers will deduct pension contributions of members and remit them to the Pension Plan as if the sick leave/unpaid PA days had not occurred, and the Government will match those contributions.
OTF was able to resolve these Plan amendments with the Government in an expeditious manner, in order to protect the pension benefits of all Plan members affected by these issues.