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Order in Council 904/2025

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 it is expected that persons with credit in the Public Service Pension Plan set out in

Schedule 1, as amended, to the Public Service Pension Act, 1989 (the “ PSPP ”) and persons with credit in the Ontario Public Service Employees’ Union Pension Plan (the “ OPSEU Pension Plan”) may, or have already, become employed by OTPPB Global Credit;

And

whereas the Lieutenant Governor in Council considers it reasonable and appropriate to permit persons employed by OTPPB Global Credit and who had also commenced employment prior to January 1, 2017 with an employer participating in the PSPP or the OPSEU Pension Plan with whom credit has been counted for the purposes of determining eligibility for post-retirement insured benefits under Order in Council O.C. 1933/2016, to retain the ability to have their credit counted for the purposes of determining whether they meet the eligibility requirements set out in subsection 2(1) of that Order in Council in respect of their employment with OTPPB Global Credit;

And

whereas the Lieutenant Governor in Council considers it reasonable and appropriate to permit other employees of OTPPB Global Credit to have the ability, at retirement, to enrol in the alternative post-retirement benefits plan described in

section 7 of Order in Council O.C. 1933/2016 on condition of paying one hundred per cent (100%) of the premium costs of the benefits, provided they have met the eligibility criteria set out in subsection 8(1) of Order in Council O.C. 1933/2016;

Now therefore pursuant to the prerogative of His Majesty The King in Right of Ontario and the Crown’s natural person powers at common law to provide for post-retirement insured benefits in the discharge of the Government of Ontario’s executive functions and responsibilities:

Despite any limitation set out in Orders in Council O.C. 1100/2015, O.C. 953/2013 and subsection 2(2) or 8(4) of Order in Council O.C. 1933/2016:

1. For the purpose of determining whether a person is an “eligible person” under subsection 2(1) of Order in Council O.C. 1933/2016, the periods of credit under the PSPP and the OPSEU Pension Plan in respect of employment at OTPPB Global Credit, or that are purchased or transferred while employed by OTPPB Global Credit, shall be counted if that person commenced employment prior to January 1, 2017 with an employer with whom credit is counted for the purposes of determining eligibility under Order in Council O.C. 1933/2016.

2. For the purpose of determining whether a person meets the eligibility criteria set out in subsection 8(1) of Order in Council O.C. 1933/2016 for enrolment in the alternative post-retirement benefits plan on condition of paying one hundred per cent (100%) of the premium costs of the benefits, the periods of credit under the PSPP and the OPSEU Pension Plan in respect of employment at OTPPB Global Credit, or that are purchased or transferred while employed by OTPPB Global Credit shall be counted as though it was an organization listed in

Schedule A to either Order in Council O.C. 1100/2015 or Order in Council O.C. 953/2013, as applicable, subject to the same limits with respect to the purchase of prior credit in respect of previous employment at another organization not listed in

schedule A and was participating in the PSPP and the OPSEU Pension Plan.

Treasury Board Secretariat

Approved and Ordered:

July 17, 2025

Updated: July 31, 2025

Published: July 31, 2025