News

New year brings launch of OMERS AVCs

January 14, 2011

OMERS has been touring the province to introduce Additional Voluntary Contributions (AVCs) - the exclusive, members-only retirement savings and investment opportunity, which began January 1, 2011.

AVCs are similar to registered retirement savings arrangements, but they are part of the OMERS Primary Pension Plan - enabling members to take advantage of the same investment expertise, strategy and diversified fund they rely on for their OMERS pension.

Member response and interest has been strong. We've received many requests for more information, as well as to start automatic contributions and to transfer funds.

Steve Bedley
OMERS member Steve Bedley
OMERS member Steve Bedley (Toronto District School Board) was intrigued by the potential of AVCs after attending one of our information sessions.

“What attracted me is that I think it's a very solid investment,” said Steve. “They have low administration fees and the potential for good returns.” said Steve. “I was looking for ways to increase my retirement savings beyond my pension, and AVCs are a good option.”

We're open for business!

Transfers - All members can now transfer funds from a registered retirement savings vehicle to their AVC account. Transfers are allowed during the January 1 to April 30 window each year. There are no minimum or maximum transfer amounts imposed by OMERS.

Automatic contributions - Active members can also make automatic contributions to their AVC account, using pre-authorized debit, either every two weeks (minimum of $20) or monthly (minimum of $40).

Find out more…

Here's how you can get more information on AVCs.

Information sessions/kiosks

Our Education and Training team has also been visiting some of our employers with our AVC information kiosk. This gives us the opportunity both to communicate AVCs and to see our members in person.

Attend an upcoming AVC information session near you. Check the schedule and sign up online.

Online virtual presentation

For those who can't make it to one of our sessions, we've prepared an online AVC Virtual Presentation. Take a few minutes and learn how AVCs can help you to achieve savings today and retirement income tomorrow.

Self-assessment quiz

AVCs may not fit with everyone's investment plan, risk tolerance, cash-flow situation or stage of life. Are AVCs right for you? Find out by testing your understanding of AVCs and take the self-assessment quiz.

Passport/Guide

By now, you should have already received your introduction to AVCs - the passport-style brochure we sent to all OMERS members. If you haven't already, you can complete and return the request card at the back of the passport, and we'll contact you with more information.

In addition, we have a complete guide to AVCs - Consider the AVC option, which includes details, case studies and the Terms of Participation.

myomers logo transparent

Our secure, online pension portal for members, myOMERS, is a convenient way to manage your AVCs.

You can monitor your AVC account, modify or stop your automatic contributions, and initiate the process to transfer funds from a registered retirement vehicle. myOMERS also has retirement planning tools, which can help you to decide if AVCs fit your retirement plan. About myOMERS.

Client Services

Our Contact Centre is staffed with knowledgeable representatives who can answer your AVC questions when you call us, Monday to Friday between 8 a.m. and 5 p.m., at 416-369-2444 or 1-800-387-0813.

OMERS also encourages you to seek the counsel of a qualified financial advisor you trust before you make any decisions about your future retirement or investment income.