Defined benefit pension plans, such as OMERS, provide a secure source of income for many retired Ontarians. OMERS has created a short animated video which details the positive economic impacts of defined benefit plans.
Defined benefit pension plans, such as OMERS, provide a secure source of income for many retired Ontarians. These plans also have a positive impact on local, provincial, and national economies. As part of an ongoing effort to communicate the value of defined benefit plans, OMERS has created a short animated video which details these positive economic impacts.
The video draws on information from a 2013 Boston Consulting Group (BCG) study that confirmed that OMERS and other defined benefit pension plans provide significant benefits to the economy. This is, for example, through the billions of dollars in Canadian and Ontario assets held by the plan. Also, because defined benefit plan retirees have a steady, predictable stream of income, they are able to roll this money back into the economy through their spending and the taxes they pay. Watch the video.
Our focus at OMERS is on ensuring the people who serve our communities are able to retire with confidence that their pensions are secure and sustainable over the long term. This video clearly explains how the defined benefit pension model provides retirement security benefits to our members, while also creating many positive ripple economic effects beyond our immediate membership of 440,000 members and retired members.
Read more about the BCG study.
We would be pleased if you were to share this valuable information and video with your fellow OMERS members and colleagues!