OMERS Sponsors Corporation (SC) recently approved changes to Additional Voluntary Contributions (AVCs). The changes provide more flexibility for participants and will give OMERS employers the option to offer payroll deductions for AVCs.
Inflation protection is an important feature of OMERS pensions. Each January, OMERS pensions increase by the average increase in the Consumer Price Index (CPI), to a maximum of 6%. If this figure is greater than 6%, the excess would be carried forward to the next year.
OMERS Sponsors Corporation (SC), which represents active and retired members and employers, approved two plan changes in a meeting on June 28, 2012.
OMERS periodically uses telephone surveys to ask our active members, retirees, and employers for feedback. We do this so that we can continually improve the quality of our services and also provide an opportunity for you to share your concerns or compliments.
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.
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