Order in Council 903/2025

On the recommendation of the undersigned, the Lieutenant Governor of Ontario, by and with the advice and concurrence of the Executive Council of Ontario, orders that:

Whereas Ontario Teachers' Pension Plan Board Global Credit LP (OTPPB Global Credit) was established under the Teachers' Pension Act, R.S.O. 1990, c. T.1, as a subsidiary of Ontario Teachers’ Pension Plan Board (OTPPB), effective June 7, 2021.

And whereas OTPPB Global Credit has requested to be designated as a participating employer in the Public Service Pension Plan set out in Schedule 1, as amended, to the Public Service Pension Act, 1989 (PSPP) and in the Retirement Compensation Arrangement (RCA) established under Order in Council 1298/2021, as may be amended from time to time;

And whereas, OTPPB Global Credit wishes to provide access to benefits under the PSPP and RCA to its employees in accordance with OTPPB’s PSPP and RCA membership requirements;

And whereas the Lieutenant Governor in Council considers it reasonable and appropriate for OTPPB Global Credit to join as a participating employer in the PSPP and in the RCA, effective January 1, 2023 and for former employees of the OTPPB whose employment was transferred to OTPPB Global Credit to continue to participate in the PSPP and the RCA (if applicable), as well as for other eligible employees of OTPPB Global Credit to join the PSPP and the RCA (if applicable) ;

And whereas members of the PSPP whose pension benefits under the PSPP exceed the maximum pension benefits permitted under the Income Tax Act (Canada) in respect of registered pension plans also participate in the RCA;

Now therefore, pursuant to paragraph 2 of subsection 2(1) of the PSPP, all persons who are employees of OTPPB Global Credit other than for a fixed term are designated as a class of employees who are required to be members of PSPP, in respect of service with OTPPB Global Credit on and after the date this Order is made.

And further that OTPPB Global Credit shall be an employer under the PSPP and the RCA for the purposes of the employees designated in this Order.