If you receive one or more T4As from OMERS, keep them for your records. You will need the Pension Adjustment (PA) information when you file your annual tax return. You do not need to send a copy of the T4A(s) to the Canada Revenue Agency (CRA) when you file your income tax.
Each February, T4As are mailed to members who were on OMERS disability waiver of contribution (disability waiver) for all or part of the previous year. The T4A slip shows the member's PA for the taxation year.
As well, some members on disability waiver receive one or more T4As from OMERS reporting PAs for previous years. They are issued if the member is:
We also send a copy of all T4As issued to the CRA. They will use the PA to calculate annual registered retirement savings plan (RRSP) room.
The amount of pension you “earn” each year affects the amount of money you may contribute to your RRSP for the following year.
Your employer calculates the estimated value of lifetime OMERS pension you earned each year according to a formula set by the CRA. The estimated value is called a PA. Each year your employer reports the PA to the CRA on a T4.
While you're on disability waiver, OMERS calculates your PA. Your T4A slip shows your PA for the pension earned while you were on disability waiver for all or part of the year.
OMERS maintains your pension benefits as if you were still at work while you're on disability waiver. To reflect more accurately what you would be earning had you not been disabled, we adjust your contributory earnings each year for inflation. The inflation-adjusted earnings are used to calculate your PA.