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2019 Report to Members

on your OMERS Defined Benefit Pension Plan

Taking Stock | Moving Forward | Creating Value

We are OMERS

A jointly sponsored, defined benefit pension plan, with 1,000 participating employers ranging from large cities to local agencies, and over half a million active, deferred and retired members.

Our members include union and non-union employees of municipalities, school boards, local boards, transit systems, electrical utilities, emergency services and children’s aid societies across Ontario. Contributions to the Plan are funded equally by members and employers.

OMERS teams work in Toronto, London, New York, Amsterdam, Luxembourg, Singapore, Sydney and other major cities across North America and Europe – serving members and employers and originating and managing a diversified portfolio of high-quality investments in public markets, private equity, infrastructure and real estate.

The benefits OMERS provides are funded equally from active members’ and their employers’ contributions, combined with investment income. We estimate that, on average, active members today will have approximately 70% of their lifetime benefits funded by investment returns.

OMERS actively seeks out opportunities to engage with decision-makers to advocate the advantages of the jointly sponsored defined benefit pension model.

The current average contribution rate paid by members is 10.6% which is matched equally by employers.

Contribution rates and benefit accruals remain unchanged for 2020. Pension payments to retired members increased by a cost of living adjustment of 2.29% in 2019 and of 1.89% in 2020.

These first few pages provide highlights from the past year, address the questions we receive most often, and look ahead as we continue with our refreshed strategy. We end with a discussion about OMERS broader impact and responsibilities.

Taking Stock

In 2019, we achieved an 11.9% net investment return, with positive performance across all asset classes. Public equity returns were particularly strong this year.

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Moving Forward

In May 2019, we refreshed our 2020 Strategy, setting out our key areas of focus for the next five years. This 2025 Strategy keeps us on the path to making OMERS a sustainable, affordable and meaningful Plan, while managing challenges across the pension landscape.

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Creating Value for Our Communities

While we focus on executing our strategy, we also know that our actions impact more than our immediate stakeholders.

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Download the Full 2019 Annual Report

2019 ar