PENSION PLAN

PENSION PLAN
Not every Rep can be expected to be aware of the various technicalities of our pension plan, the
Régime de retraite des employés du gouvernement et des organismes publics (RREGOP). More
expert advice, through the MTA office or QPAT, is available to teachers who have detailed
questions. Nevertheless, there are perhaps three questions which every Representative should be
able to answer. They are:
(1) How much do I contribute to the pension plan?
(2) When can I retire with a pension?
(3) How much of a pension do I get upon retirement?
(1) How much do I contribute to the pension plan?
RREGOP: 9.18% of salary above 31% of QPP maximum pensionable earnings ($51,100 in
2013). In other words, somebody earning $60,000 in 2013 would pay 9.18% of
($60,000 - {31% of $51,100}), or $4053.80.
(2) When can I retire with a pension?
RREGOP: (a) at age 60, regardless of years of service, or
(b) at any age with at least 35 years of admissible service, or
(c) at age 55 (actuarially reduced pension).
(3) How much of a pension do I get upon retirement if I resign with no actuarial reduction
(i.e., in either case (a) or (b) from question (2) above)?
2%
x
the average of the best 5 yearly salary rates
x
the number of years of service.
For example, a teacher who is, say, 62 years old, who retires after 30 years of service and whose
average yearly salary rate over the 5 best years is $70,000 would receive a yearly pension of 60%
(i.e., 2% x 30 years) of $70,000, or $42,000 per year.