OMERS offers members more than the promise of a defined benefit pension. In its latest service undertaking, OMERS members will have the option to make additional voluntary contributions to an account similar in many respects to a registered retirement savings plan (RRSP).
AVCs begin 2011, but you can expect to receive information about this new option starting this fall. As well, special information sessions will be held for members throughout the province. You'll find information on the
OMERS website starting in September. Beginning in October, members may also be contacted at home by phone by one of our Client Services representatives to explain the options.
The decision to contribute to an AVC account is entirely up to you. An AVC account is an attractive option available exclusively to OMERS members, but it may not fit with everyone's investment plan, risk tolerance, cash-flow situation or stage of life. When more information is available, take the time to learn about the AVC option and how it may fit into your financial plan for retirement.
AVCs are part of a suite of services being offered to help members make the most of their retirement income. Earlier this year OMERS introduced the option for eligible members to buy back service from private sector pension plans; and OMERS offers a convenient buy-back payment plan.