Ontario Pension Board (OPB) is the administrator of the Public Service Pension Plan (PSPP or the Plan) – a major defined benefit pension plan sponsored by the Government of Ontario. Our membership base is comprised of certain employees of the provincial government and its agencies, boards and commissions. Our commitment is to protect the long-term sustainability of the Plan, invest assets astutely and with discipline, keep contribution levels stable and affordable, and deliver exceptional service to our stakeholders.
With $26.6 billion in assets, 44,772 members, 38,050 retired members and 6,478 former members, the PSPP is one of Canada’s largest pension plans. It is also one of the country’s oldest pension plans, successfully delivering the pension promise since the early 1920s.
The PSPP is a defined benefit pension plan designed to enhance the financial security of its members. Retired members receive a pension benefit based on a pre-set (defined) formula. That formula takes into account each member’s earnings history and years of service with the Plan. To fund the pension promise, both members and employers make contributions to the Plan.