Life in Retirement

We will pay you on the 15th of each month by direct deposit. If the 15th falls on a weekend or holiday, your payment will be deposited on the prior business day.

Yes. Your pension is taxable and we deduct the tax at source each month for you. We will also provide you with an estimate of your tax when you complete your pension documentation. Learn more about your pension and taxes.

Information regarding the benefits you may be eligible for when you retire are outlined in Green Shield Canada’s My Benefit Plan booklet. The benefits available and associated costs are determined by your employer, not TTCPP.

When you retire, the impact of inflation on your pension will be partially offset by periodic cost-of-living increases. These periodic enhancements to your monthly pension can help reduce the erosion of the purchasing power in retirement. The enhancement acts much like a pay raise. Inflation protection is not guaranteed but is conditional on the financial position of the Plan.

Starting January 22, 2024, all TTC pensioners must tap their TTC Pensioner Passes on a TTC PRESTO reader (on a bus, streetcar, Wheel-Trans vehicle, or at a station) at least once before June 30, 2024, to continue to access free rides on the TTC.

TTC pensioners will be required to tap their TTC Pensioner Passes every two years to maintain access to free rides on the TTC.

TTC Pensioner Passes are administered by TTC. For questions regarding your pass, contact TTC at jobsemail@ttc.ca.