Does your nonprofit organization have part-time employees? Did you know they can also enrol in the same pension plan as full-time employees? It’s possible through OPTrust Select – a defined benefit pension plan designed specifically for the nonprofit, charitable and broader public sector organizations in Ontario, where membership in the plan is mandatory for all eligible employees who are less than 65 years old and work on a full-time basis, but optional for those eligible employees who work on a part-time basis.

Nonprofit organizations began enrolling in the OPTrust Select pension plan in April 2019 and Barry’s Bay and Area Senior Citizens Home Support Services (BBAHS) was one of the first seven nonprofit organizations to join. “We were excited to be part of the first wave. OPTrust Select aligned well with our organization and it was a pension plan within our reach,” said Joanne King, Executive Director of BBAHS. “We had a pretty good uptake on the pension plan too – more than 50% of part-time employees joined the plan,” she added.

BBAHS saw the value in joining OPTrust Select. “I feel OPTrust was generous to open up a plan to the nonprofit sector. It demonstrates a sense of OPTrust looking out beyond – has a bit of heart behind it. OPTrust Select is affordable and offers employees a variety of benefits such as pension buyback options and survivor benefits. With the employer also contributing to the pension plan, it’s a great way to invest in our employees’ future,” said King.   

An OPTrust Select pension, combined with personal savings, and government programs such as CPP and OAS, provides a simple way to invest in your financial future. To learn more about the pension plan and your eligibility to join, please contact us.