The Ontario Teachers’ Pension Plan (OTPP or Plan) is a partnership between the Ontario Teachers’ Federation (OTF) and the Government of Ontario. The OTPP was created in 1989 by the Teachers’ Pension Act to replace the Teachers’ Superannuation Fund (controlled by the Government) and, in 1991, the partnership was formed between OTF and the Government (the Partners).
OTF and the Government are equal Partners in the governance of the OTPP. Each Partner appoints four members to the Board of Directors of the Ontario Teachers’ Pension Plan Board (OTPPB), and the Partners jointly appoint a chairperson. The assets of the Plan are invested and the Plan is administered on a day-to-day basis by the OTPPB.
Under the terms of the partnership, the Partners jointly decide issues of Plan design. The most important decisions for the Partners involve determining benefit levels and contribution rates, and deciding when to file funding valuations for the Plan with the pension regulator, the Financial Services Regulatory Authority of Ontario (FSRA). OTF represents all Plan members in the negotiation of Plan matters.
Click here for more information on the pension partnership.
Visit the OTPP website.
