Pension Payments and Banking

We pay OMERS pensions in equal monthly instalments at the beginning of the month. Most OMERS pension payments are made by direct deposit. Payments are also made by cheque.

Direct Deposit (available in Canada, the U.S. and the U.K.)

Pension payments by direct deposit are automatically deposited into your account on the first banking day of the month. (Note: this isn't always the first day of the month; it could be the first day banks are open after a weekend or holiday.)

  • Direct deposit is safe and secure: you don't have to wait for a cheque to arrive by mail, and you don't have to be home to get your payment.
  • You can easily change your address information by calling OMERS.

We can make direct deposit payments to most banks and financial institutions in Canada, the U.S. and the U.K. If you receive your pension in Canadian dollars, your 12 monthly pension payments in any year will be the same. Pensions paid in U.S. dollars or U.K pounds may fluctuate, depending on your bank's exchange rate.

If your payment is not in your account by the first banking day of the month, contact your bank or OMERS Client Services.

Setting up Direct Deposit pension payments

To have your pension directly deposited into your bank account every month…

Notify OMERS Immediately of Bank Changes

For your protection, OMERS cannot make changes to your banking information by phone or by email.

  • If you are a registered myOMERS user, you can change your banking information online.
  • Submit a Form 108 – Changing information (retired member/survivor)
  • Send a signed letter to OMERS that includes your full name (printed); your OMERS reference number (or social insurance number); the effective date of the change; the new information (bank, branch, and account number), or a void cheque from the new account.

OMERS
One University Avenue
Suite 400
Toronto, ON
M5J 2P1

Fax: 416-369-9704
Toll-free fax: 1-877-369-9704

Tip: Keep your old account open until the deposit actually goes into your new account, in case we don't receive your new information in time for your next monthly payment.

Payments by Cheque

  • If you receive your monthly pension payments by cheque, you can expect to receive your cheque at the beginning of each month.
  • If your cheque hasn't arrived within five business days, please contact OMERS Client Services. If you live outside Ontario, in the U.S., or overseas, please allow 10 days.
  • To change your address or other information:
    • Submit a Form 108 – Changing information (retired member/survivor); or
    • Send a signed letter to OMERS that includes your full name (printed), current address and phone number; your OMERS reference number (or social insurance number); the effective date of the change; and the new address information.

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