Ontario employees who are reservists in the Canadian Armed Forces and who are deployed to an international operation or an operation in Canada that is providing assistance in dealing with an emergency or its aftermath are entitled under the Employment Standards Act, 2000 to an unpaid leave for the time necessary to engage in that operation (effective December 2007). During this time, their jobs are protected. The OMERS Sponsors Corporation (SC) is considering a plan change that would allow members and employers to share the cost of purchasing this leave period in the OMERS pension plans.
Under the current plan provisions, a member who takes a reservist leave can purchase the period of leave by paying both the member and employer contributions that would normally have been paid during the period, provided that the election and payment are made within a certain period.
The proposed change would provide employers with the option of sharing the cost of purchasing reservist leaves in the OMERS plans (provided that the election and payment are made within a certain period).
Where an employer has made such a decision, for all employees or a class of employees, affected members would pay their share of the contributions and the employer would pay its share.
The SC will be considering the amendment to the plans at its April 26, 2012 meeting. The proposed effective date of the amendment is January 1, 2013.
For more information about leave period purchases, see the OMERS Member Handbook, Your OMERS Pension.