Pension Information for Teachers who have retired but continue to teach as Occasional Teachers.

1. Teaching After Retirement

You can return to teaching without affecting your pension, however, limits apply. When you teach more than 95 days in a school year, your contributions start again and your pension is suspended.

The Limits

The Ontario government and the Ontario Teachers' Federation recently agreed to extend the number of years retired teachers can teach up to a maximum of 95 days per school year, regardless of how much teaching they may have already done. The new rule became effective September 1, 2001, and expires August 31, 2006.

If You Exceed the Re-employment Limits

Your pension is suspended the month after you exceed your employment limit. Your contributions to the pension plan begin on your 96th day of employment.

It is very important for you to keep track of the number of days you teach so you won't go over the limit. If you exceed the limit, please notify the OTTPB and your employer. Once you stop teaching, notify us in writing so we can start your pension again.

Designated Private Schools

You can teach at a private school that is not part of the pension plan without affecting your pension. If you teach at one or more designated private schools, the limit on the number of days you can teach a year without affecting your pension apply.

2. Collecting C.P.P.

3. What happens to your RRSP’s after age 69?

At age 69, RRSP’s must be “converted” into RRIF’s, used to purchase an annuity, or cashed in. The last two options are not very realistic as you will loose a great deal of money, upwards of 40% or more, depending on the total amount of you income for that year.

After age 69, one loses any unused RRSP contribution room and may no longer contribute to an RRSP.

Starting one year after age 69, one must withdraw 7.38% of one’s RIFF. It is possible to use a spouse’s age if the spouse is materially younger.

4. Teaching between Age 65 & Age 69

While many boards will not hire teachers after age 65, if you are hired, you are subject to the same rules regarding limits (95 days). Should you go beyond the 95th day (or end of month in which it occurs), you will be required to make further contributions to the pension plan.

5. Teaching after Age 69

In the very unlikely situation where a board may hire you after your 69th birthday, you can teach as much as you want (more than the 95 days in a school year) because you cannot make any contributions to a pension plan.