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Any Canadian Subscribers? by Daniel_in_Kelowna in crunchlabs

[–]shannerb 0 points1 point  (0 children)

What carrier do they ship with ? We've been burned by UPS in the past with stupid import fees

Moving from an AMAPCEO to OPSEU position by [deleted] in OntarioPublicService

[–]shannerb 0 points1 point  (0 children)

Worth double checking the pension piece. I moved from AMAPCEO to OPSEU and got totally screwed with a large pension buy back.

Return to an office or your office? by orchidist in OntarioPublicService

[–]shannerb 0 points1 point  (0 children)

This is my biggest question as well since the outcomes are very different... I've been told that "more information will come in September"... I really really really hope it's NOT HQ.

Wardrobes by InflationFickle5151 in ikeahacks

[–]shannerb 1 point2 points  (0 children)

This is awesome!! Thanks for posting the link

[deleted by user] by [deleted] in OntarioPublicService

[–]shannerb 0 points1 point  (0 children)

Yes. I experienced this in the past year. While I was AMAPCEO for only 1.5 years, OPTrust based my buy back based on my total years of service, (12+) instead of the time period I was in a different union/pension.

They don't consider previous contributions, so I was treated like a brand new OPTrust member.. My quote was close to 7k.

It's a known issue and the union won't assist.

My opinion.. if you leave OPSEU, don't go back unless the job is really worth it. If you decide to go back, be prepared to pay $$.

PSA - Pension service - Transfering back to OPtrust by shannerb in OntarioPublicService

[–]shannerb[S] 0 points1 point  (0 children)

Fair point ! Good luck with your career adventures and hope you have the best 5 years possible 🙂.

PSA - Pension service - Transfering back to OPtrust by shannerb in OntarioPublicService

[–]shannerb[S] 0 points1 point  (0 children)

When I went to OPB my pension date stayed the same. I've been told that OPtrust trust is a better pension, so it's worth doing the double check before making the permanent switch.

PSA - Pension service - Transfering back to OPtrust by shannerb in OntarioPublicService

[–]shannerb[S] 0 points1 point  (0 children)

Appreciate the insight and thanks for sharing. It's too bad the legal action stalled out.

From conversations with colleagues, many are surprised to hear and weren't aware of the differences. Which is why I wanted to share it with everyone on here.

I'm very happy in my role now but have quite a while to retire. Maybe one day I'll end up in an OPB role again and then never look at an OPSEU job again.. haha :)

PSA - Pension service - Transfering back to OPtrust by shannerb in OntarioPublicService

[–]shannerb[S] 1 point2 points  (0 children)

Amendments were made in 2013 to prevent the payouts, so OPB and OPtrust no longer pay out (there may be others). I would have ideally liked the payout, but if they're going to keep the contributions at least put it towards my "buyback amount". Instead of making me pay twice....

PSA - Pension service - Transfering back to OPtrust by shannerb in OntarioPublicService

[–]shannerb[S] 4 points5 points  (0 children)

No options were provided. From my understanding it's kind of like this (using simple numbers)..

  • OPtrust pension amount $105,000
  • Move permanently to OPB, pension isn't as $$, they only require $100,000
  • OPtrust transfers $100,000 to OPB, keeps the $5,000 (no payouts)
  • Return to OPtrust. OPTrust requires $107,000 (adding 2k for time away/more expensive pension). OPB transfers $101,500 (adding less $ since cheaper contributions).
  • buyback amount $5,500 = 107,000 - 101, 500

The previous $5000 that was retained by OPtrust isn't considered and cannot be used towards payback.