On November 29, 2013 final regulations were released by the Government of Ontario for those who have two different pensions due to divestment. Effective January 1, 2014 the affected plans will be allowed to enter into transfer agreements that will allow members affected by public sector divestments to transfer their pensions from their prior pension plan to their new pension plan. The affected plans have already been discussing the terms of the transfer agreements in anticipation of these regulations, and as such, it is expected that early in 2014 the agreements will be finalized.
What we are advising affected members to do now is to ensure your contact information is updated with each of your plans. Under the regulations, each member who is eligible must be personally notified of their ability to transfer. To ensure you receive notification, please take a few minutes now to update your contact information with each of your plans.
This process will take some time due to the number of individuals affected, the individual notification of your eligibility and the subsequent information exchange. The plans are asking for your continued patience as they work through this process with the thousands of members affected.
If you have questions about the transfer process or your eligibility please contact your plans for direction. You can find their contact information on their website:
HOOPP:
http://hoopp.com/Contact/Contact-Us/
OMERS:
http://www.omers.com/corporate/corporate_contact_us.aspx