Pension Transfer

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EyeInTheSky
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Pension Transfer

Postby EyeInTheSky » Mon Apr 20, 2020 2:48 am

Hello,

I have been unable to find this information elsewhere on the site and would like some input. I am a current military member with 10 years of service in the Army and Air Force. My contract will be expiring soon and I am considering entering law enforcement as my next career. With regards to pensions, I was told by someone some time ago that if I were to join a Federal Agency such as the RCMP, my pension would transfer on a 1-1 basis in terms of years served. I would like to confirm whether that is true and also know how local and provincial agencies handle this issue, specifically the OPP and departments in the GTA (Peel/Toronto/York) as that is the area I plan to return to after release but am flexible. If this is something that must be negotiated individually for each applicant that would be good to know as well.

Thank you.

Fonthill
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Posts: 252
Joined: Fri Mar 11, 2016 7:55 pm

Re: Pension Transfer

Postby Fonthill » Tue Apr 21, 2020 2:18 pm

EyeInTheSky wrote:
Mon Apr 20, 2020 2:48 am
Hello,

I have been unable to find this information elsewhere on the site and would like some input. I am a current military member with 10 years of service in the Army and Air Force. My contract will be expiring soon and I am considering entering law enforcement as my next career. With regards to pensions, I was told by someone some time ago that if I were to join a Federal Agency such as the RCMP, my pension would transfer on a 1-1 basis in terms of years served. I would like to confirm whether that is true and also know how local and provincial agencies handle this issue, specifically the OPP and departments in the GTA (Peel/Toronto/York) as that is the area I plan to return to after release but am flexible. If this is something that must be negotiated individually for each applicant that would be good to know as well.

Thank you.

https://army.ca/forums/index.php?topic=115422.0;nowap

EyeInTheSky
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Joined: Mon Apr 20, 2020 2:28 am
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Re: Pension Transfer

Postby EyeInTheSky » Wed Apr 22, 2020 6:10 pm

Yes that covers RCMP, which is a federal agency and so it's all coming out of the same pot anyway but my question is regarding non-federal agencies, specifically the ones I referenced or any others for that matter. Since they are not federal pension programs; are you able to buy back your years of service, do you start from the bottom, or is it somewhere in between? Preferably someone military who has gone to a Provincial or Municipal force can chime in here.

rjg
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Joined: Mon Sep 10, 2018 2:31 am
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Re: Pension Transfer

Postby rjg » Mon May 18, 2020 6:48 pm

I'm in a similar situation, I had a pension with the Hospitals of Ontario Pension plan for 10 years. I got on with Peel in August and started the process of getting my pension transferred over to OMERS. As of right now it is still being assessed but from what I gather my years of service will be honoured 1:1.

I'm aware there are some reciprocal agreements in place with certain pension plans that allow you to transfer over the pension while others are assessed on an individual basis.


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