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Question 1/5
Jane worked at a Canadian bank and was a member of the bank’s registered pension plan before getting a job at the municipality and becoming an OMERS member. Can Jane use her service or funds from the bank to increase her OMERS pension?
You chose:
Jane transferred funds from her bank pension plan into a locked-in retirement account. Would she be able to bring it into OMERS?
Can Jane use funds from the locked-in retirement account she set up (when she transferred out funds from the pension plan) to pay for the buy-back?
Can Jane buy back her service with the bank if she leaves her OMERS employer?
Correct. Buy-back purchases are only available to active members. If Jane leaves her OMERS employer before buying back her service with the bank, the buy-back option is no longer available.
If Jane wishes to buy back service with the bank, does she have to buy all the service with the bank?
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Have you ever been a member in a registered pension plan before joining OMERS? Tell your OMERS employer about your past service, or contact OMERS Client Services directly. You may be able to use that