Understanding your options
Most members are in a highly vulnerable financial position when they are confronted with a loss of income during a lengthy or permanent disability. Long term disability (LTD) insurance provides a safety net that will replace a percentage of your salary and provide pension plan protection should you be unable to work because of an illness or injury.
You may qualify to cancel your LTD insurance if you meet any one of the following criteria as set out by your insurance policy.
Scenario 1: Eligible for a 62% unreduced service pension
- You are eligible for a 62% unreduced service pension now, or
- You are eligible for a 62% unreduced service pension within the later of either the next 110 working days or the expiration of your sick leave credits
An unreduced pension means that your retirement pension is calculated without a reduction (penalty). To qualify for an unreduced pension under the OTPP, you must have the “85 factor” (age + qualifying service = 85).
To qualify for a 62% unreduced pension you must have 31 years of credited service and meet the “unreduced” criteria for your pension plan as noted above.
Scenario 2: You have recently turned 65
- You have reached the end of the month in which you turned 65, or
- You will reach the end of the month in which you turn 65 within the later of either the next 110 working days or the expiration of your sick leave credits
If you wish to terminate your LTD coverage and discontinue your premium deductions, please complete an Application for Coverage Termination. Be sure to include the supporting documentation required in order to process your request.
You should submit your completed form with the necessary documentation at least 2 months prior to the desired cancellation date to ensure the board stops deducting LTD premiums on time.
Please return your completed Application for Coverage Termination to:
Elementary Teachers of Toronto
300-4211 Yonge Street
Please direct any questions regarding the termination of your LTD benefits to:
Your LTD benefits plan is sponsored by ETFO Provincial. Please do not call your school board for assistance. Please direct any questions to your ETT Executive Officer.