On your retirement from the OPP, you may receive money from three sources:

• Your pension plan – You will receive a monthly pension for your lifetime. The amount will depend on your years of service and your salary. If you are a First Class Constable with 30 years of service on the OPP, your pension will typically be about $1,200 less per month than your current take-home pay.

• Vacation payout – This is a lump-sum payment for unused vacation.

• Legislated Severance/Retiring allowance – This is a lump-sum payment from the OPP that recognizes your years of service. If you retire as a First Class Constable, your payment could be around $42,000.

Is it enough to live out your retirement dream? Should you be making additional savings? What will you do with your retiring allowance? Some of our members use this additional money to pay off debt in order to retire with fewer financial commitments. Others invest the money to use later in retirement.

These are the questions you can discuss with your Member Service Advisor. We have helped many members and their families with these tough life decisions and would like to help make your dreams come true as well.