OMERS speaks to the importance and value of the DB model.
The Defined Benefit Model – Key Facts
As one of Canada’s leading defined benefit (DB) public sector pension plans, OMERS is proud to speak of the merits and importance of the DB model. We know that pension plans like OMERS have significant long-term positive impacts on the economy while providing retirees with stable and adequate incomes and reducing the reliance on government social programs. Just last year, the Boston Consulting Group (BCG) released two studies that showed large public pension organizations help to strengthen the Canadian economy, provide Canadians with one of the strongest retirement income systems in the world, and contribute significantly to national prosperity.
Here are four key facts about the DB model that were discussed at the recent BC Public Sector Pension Conference, a pension industry event in which OMERS took part:
- Canada is a world leader in efficient, well-managed DB pensions
- DB public sector pension plans are efficient and cost-effective
- Most of income paid to a pensioner comes from investment returns
- DB public sector pensions provide adequate lifetime retirement income when combined with CPP, OAS, and personal savings.
For OMERS, each of these messages is important. Please stay connected and follow our efforts on our website and through Outreach.
Learn More About the Many Benefits of DB Pensions
More About the BCG Studies
Investing for Canada on the World Stage (June 2013)
Defined Benefit Pension Plans: Strengthening the Canadian Economy (October 2013)
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