Dear Mr. Thomas and Mr. Bethlenfalvy: We are writing to advise you that the cost of living adjustment (COLA) that will be applied to pensions paid under the primary schedule of the OPSEU Pension Plan (the Plan) will be 1.0% effective January 1, 2021. The formula used to determine the adjustment is prescribed by the Plan and is based on the increase in the Consumer Price Index (CPI) issued by Statistics Canada averaged over a twenty-four-month period. The administrators of the Public Service Pension Plan and the Ontario Teachers’ Pension Plan use the same formula and have confirmed the 2021 increase. The Plan’s Board of Trustees has granted ad hoc benefit enhancements effective January 1, 2021 to OPTrust Select benefits at a level equal to 100% of the change in CPI. As a result, an increase of 1.0% will be applied to pension benefits accrued and/or purchased before January 1, 2020 by OPTrust Select members who are active on December 31, 2020 and to OPTrust Select pensions in pay effective January 1, 2021. Yours truly, Audrey Forbes Senior Vice President, Member Experience, OPTrust
