Why transfer substitute time?
Pensionable service is a key factor in calculating your pension and determining retirement eligibility. By transferring eligible substitute teaching service to the TPP, you are adding to your total pensionable time, which directly increases the value of your future pension and may help you retire sooner.
Act early to increase your pensionable service
Your GMPP funds may not be enough to cover the full cost of transferring all your eligible substitute teaching service to the TPP. You have the option to transfer only the time that funds cover or purchase the remaining service using personal funds, RRSP funds, or payroll deductions. Purchasing eligible service usually costs less earlier in your career. That’s why it’s important to explore your options as soon as you are eligible to do so.
We’re here to help
We can help you understand how much pensionable service your GMPP funds can buy when transferred to the TPP. We can also let you know the cost to purchase additional service that might be available to you. Please contact us so we can assist you with the transfer process and answer your questions. We are always happy to help.
Email: memberservices@tppcnl.ca Phone: 709-793-8772 or 1-833-345-8772
In-person: 140 Kelsey Dr., Suite 300, St. John’s, NL