About the Sponsors Corporation
Please note, as a result of the June 24, 2020 Sponsors Corporation Board vote on the 2020 Plan Review and COVID-19 Amendments, we are in the process of updating our website.
What we do
We are solely responsible for appointments to the Boards, as well as for setting benefits and contribution rates.
What we think
Defined benefit pension plans, like OMERS, play a key role in Ontario’s economy and social fabric.
2020 Plan Review
Following the 2020 Plan Review process, on June 24, 2020, the OMERS Sponsors Corporation Board (SC Board) approved five amendments to the OMERS Primary Pension Plan (Plan).
Every year, the SC Board reviews the health and viability of the Plan to ensure it remains sustainable, affordable and meaningful for the OMERS community. Based on the recent review, the SC Board approved the following amendments. The first three amendments were considered because of the exceptional circumstances presented by the COVID-19 pandemic and are effective immediately. The final two amendments were considered as a part of the annual Plan review and are not effective until January 1, 2023:
extending leave purchase deadlines;
reducing or eliminating the 36-month employment requirement for purchases of periods of reduced pay;
permitting temporary layoffs as purchasable service;
non-full-time expansion; and
Shared Risk Indexing.