April 11, 2023

Mrs. Paula Riganelli

17 Shauna Crt
St Catharines ON L2S 3S8

Dear Mrs. Riganelli:

Please find enclosed your retirement statement. It explains how your pension payments
will be made and how your pension will be calculated. You’ll also find enclosed a fact
sheet that explains other important details about your entitlements and retirement.

Our records indicate that you lost salary due to a strike in the 2019/20 school year(s).
Your affiliate traditionally makes up the difference in pension contributions when it
occurs in one of your best five years of salary. The calculations in the attached statement
assume they will submit payment on your behalf. If they do not, we will contact you
directly to discuss your options.

As of the date of this letter, we are unable to complete the processing of your pension
application. We require the following document(s) to continue and, once submitted, you
do not need to do anything else:
• A photocopy of your birth certificate, Canadian passport or Ontario driver’s license
• A photocopy of your spouse’s birth certificate, Canadian passport or Ontario driver’s
license
• A photocopy of your marriage certificate

You can check the status of your pension application or upload supporting documents, at
any time, by visiting Your Pension in your online Ontario Teachers’ account. Keep in
mind it can take up to one full business day for uploaded documents to be processed.

If you have any questions, please contact our Client Services Department and we will be
happy to assist you. You can reach us by phone at (416) 226-2700 or 1-800-668-0105, or
by email at inquiry@otpp.com.

Yours truly,

Sabrina Lupiani
Pension Benefits Specialist

Page 1 of 7
Account number:
306464497
 Retirement Statement
Plan registration number: 0345785
Mrs. Paula Riganelli April 11, 2023

Pension summary Assumptions

To calculate your pension, we’ve estimated your salary and credit for the period
below.
School year Salary Credit
September 1, $96,024.00 1.0000
2022 - June 30,
2023
Revised service information
If your employer reports any revised salary or credit information, we’ll recalculate
your pension and make the necessary retroactive adjustments for any over- or
underpayments, with interest where applicable. Please note that while most revisions
are reported to us within a few months after your last employment, some changes may
not be reported for up to two years.

Summarized pension amounts

Annual lifetime pension: $42,322.83
Bridge benefit paid to age 65*: $7,331.84
Total annual pension: $49,654.67
Monthly pension:
Until age 65 $4,137.89
Pension payment (before tax)
First monthly payment July 31, 2023 $4,137.89
Subsequent pension payments will be paid on the last business day of each month.

All pension payments will be deposited to:

ROYAL BANK OF CANADA
Branch/transit #: 4242
Account: 5366489

Deductions
We’ll inform you of your net pension amount before your first pension payment.
We’ll also inform you if that amount changes any time thereafter.

If you have opted for medical coverage with RTO (Johnson Insurance), ARM or
OTIP, you can choose to have your premiums deducted from your pension once the
insurance company sets up your coverage.

Page 2 of 7 OTPP plan registration number: 0345785

Remember that your final entitlement is calculated in accordance with the terms of the
Account number: pension plan and data reported by your employer and verified. In the event of a conflict,
306464497 the verified data and the terms of the pension plan will govern.
 *The Ontario Teachers’ Pension Plan provides a bridge ben efit, which is intended to
supplement your retirement income until age 65 when you are eligible for an unreduced CPP
pension. The month after you turn 65, or immediately if you start a CPP disability pension,
the bridge benefit ends and your pension payment is adjusted.

Page 3 of 7 OTPP plan registration number: 0345785

Remember that your final entitlement is calculated in accordance with the terms of the
Account number: pension plan and data reported by your employer and verified. In the event of a conflict,
306464497 the verified data and the terms of the pension plan will govern.
 Retirement Statement
Plan registration number: 0345785

Pension calculation Service and retirement

details
Credit: 26.3882 Date you joined the plan*: September 1, 1995
Qualifying years: 28.0000 Date of retirement: June 30, 2023
Factor (age + qualifying years): 85.9068 Date of pension start: July 1, 2023

Profile
Date of birth: August 4, 1965 (age 57.9068)
Marital status: Married
Spouse’s name: Mr. Luciano Riganelli

Average salary
Year Credit Salary Qualifying years Rate used in calculation
2018-2019 1.0000 $92,291.95 1.0000 $92,291.95
2019-2020 1.0000 $94,103.14 1.0000 $94,103.14
2020-2021 1.0000 $95,072.96 1.0000 $95,072.96
2021-2022 1.0000 $96,024.04 1.0000 $96,024.04
2022-2023 1.0000 $96,024.00 1.0000 $96,024.00
Average salary $94,703.22
Pension before reductions
Average salary Credit
2.0% x $94,703.22 x 26.3882 = $49,980.95

Survivor pension reduction -$283.92

(60%)
Ten-year pension guarantee reduction -$42.37 .

Total annual pension** $49,654.67

*Reflects the first day of the period you began working as reported by your first employer.
This date doesn’t impact your pension value and is used only to calculate your qualifying
service.
**This amount and the formula noted above include the bridge bene fit paid to age 65. Your
pension payment is adjusted the month after you turn 65, or immediately if you start a CPP
disability pension.

Disclosure of your marital status

You have declared that you are married to Mr. Luciano Riganelli. This means that you
are not separated and that you are not in a common-law relationship with another
person. In the event of your death, Mr. Luciano Riganelli will be eligible for survivor
benefits. If your marital status is incorrect or if it changes, you must contact us before
July 31, 2023.

Page 4 of 7 OTPP plan registration number: 0345785

Remember that your final entitlement is calculated in accordance with the terms of the
Account number: pension plan and data reported by your employer and verified. In the event of a conflict,
306464497 the verified data and the terms of the pension plan will govern.
 Important Information
Explanation of your Survivor pension reduction
pension calculation Your pension is reduced to provide a 60% survivor pension to your spouse.

Ten-year pension guarantee

Your pension is reduced to provide a guarantee that, in the event of your death before
receiving 120 pension payments, your full pension, less any CPP adjustment, will
continue to your spouse for the balance of the 120 payments. After the guarantee period,
the regular survivor pension begins.

Bridge benefit
The Ontario Teachers’ Pension Plan is designed to work together with the Canada
Pension Plan (CPP). We provide a bridge benefit, which is intended to supplement your
retirement income until age 65 when you are eligible for an unreduced CPP pension. The
month after you turn 65, or immediately if you start a CPP disability pension, the bridge
benefit ends and your pension payment is adjusted.

Even if you take a reduced CPP pension before 65, your Ontario Teachers’ pension
payment won’t be adjusted until you’re 65. However, if you apply for a CPP disability
pension, you must notify us immediately.

Civil status documents Birth certificates

If you cannot obtain a birth certificate, we will accept a baptismal certificate, a Canadian
passport (provided it was issued after Jan. 22, 1969), or proof of Canadian citizenship.

If you can’t find a birth certificate that was issued in Ontario, you can obtain a
replacement copy in as little as 15 business days by applying online at
www.mgs.gov.on.ca. To obtain a copy by other methods, contact the Registrar General at
416-325-8305 or toll free at 1-800-461-2156.

Marriage certificates
If you don’t have a marriage certificate and you were married in Ontario, contact the
Registrar General for a replacement copy at 416-325-8305 or toll free at 1-800-461-2156.

If you don’t have a marriage certificate and you were married outside Ontario, we require
an affidavit of your marital status. An affidavit is a written statement sworn before a
Commissioner of Oaths or notary public, such as a lawyer. You can find a notary public
in the Yellow Pages.

Page 5 of 7 OTPP plan registration number: 0345785

Remember that your final entitlement is calculated in accordance with the terms of the
Account number: pension plan and data reported by your employer and verified. In the event of a conflict,
306464497 the verified data and the terms of the pension plan will govern.
 If you die before receiving your first pension payment, your spouse is first in line to
Survivor benefits in
the event of death receive survivor benefits as long as you’re not living separate and apart when you die.
before retirement They’ll receive the commuted value of your pension either as a lump sum payment or a
lifetime monthly pension.

If your spouse receives a pension and later dies, or you have no spouse when you die,
your dependent children share a pension for as long as they remain dependent. Any
remaining benefit will go to your beneficiary(ies) or estate.

Beneficiary(ies): Daniela Marie Riganelli Jones

Michelle Dominique Riganelli

If you have neither a spouse nor dependent children, your beneficiary(ies) or estate will
receive a lump sum payment equal to the commuted value of your pension.

If you have service prior to 1987 or a disabled child, the rules may be different. Please
contact us for details.

We verify all data related to your employment service. If there’s a discrepancy, you may
Refunds
be entitled to a refund of contributions, with interest. We’ll send you a letter and cheque if
you’re entitled to a refund after the date of this statement for the following reasons.

Excess credit
If you accumulated more than the equivalent of a full-time school year’s credit in the
current or any previous school year, you may have contributed too much to the plan.

50% rule
If the contributions (plus interest) you made after 1986 exceed 50% of the commuted value
of the pension earned during the same period, the excess contributions will be refunded.

We may also discover other historical over-contributions that we’ll refund, with interest.

After retirement
Working in education after retirement
If you plan to return to work in education, please review the Re-employment in
Education fact sheet on our web site.

Marrying after retirement

If you marry or establish a common-law relationship after retirement and want to provide
survivor benefits for your new spouse, please contact us for more details as he or she is
not automatically entitled to a survivor pension.

Page 6 of 7 OTPP plan registration number: 0345785

Remember that your final entitlement is calculated in accordance with the terms of the
Account number: pension plan and data reported by your employer and verified. In the event of a conflict,
306464497 the verified data and the terms of the pension plan will govern.
 Buybacks
If you purchased credit in your best-five years and there were retroactive changes to your
effective rate of pay, or if you had a buyback in this last school year that we aren’t aware
of, please contact us as this may affect your pension.

Cost-of-living adjustments
All pensions, including survivor and disability pensions, may be increased annually for inflation.

There are three components to inflation protection:

Pension credit Inflation protection* What it means

Earned before 2010 100% This portion of pension will keep pace with
increases in the cost of living.
Earned during 50% to 100% Increases for this portion of pension will range from
2010-2013 50% to 100% of the annual increase in the cost of
living, depending on the plan’s funded status.
Earned after 2013 0% to 100% Increases for this portion of pension will range from
zero to 100% of the annual increase in the cost of
living, depending on the plan’s funded status.
*Inflation protection is based on changes in the cost of living, as measured by changes in Statistics Canada’s
Consumer Price Index (CPI).

Page 7 of 7 OTPP plan registration number: 0345785

Remember that your final entitlement is calculated in accordance with the terms of the
Account number: pension plan and data reported by your employer and verified. In the event of a conflict,
306464497 the verified data and the terms of the pension plan will govern.