Economic Value - Creating Value for our Communities
While we focus on executing our strategy, we also know that our actions impact more than our immediate stakeholders.
We have long understood that the pension benefits paid to members and impact of our investments generate economic value, in 2019, OMERS asked CANCEA, The Canadian Centre for Economic Analysis, to provide a report on the economic value that the Plan provides.
In 2019, OMERS paid $4.6 billion of pension benefits to more than 170,000 members, most of whom live in Ontario. CANCEA confirmed that these payments, combined with OMERS investments in the province, contributed over $10 billion† to the Ontario economy. Our retired members’ spending also helps support some 63,000† jobs in communities across Ontario.
The CANCEA report presents a comprehensive assessment of the economic contribution of OMERS to Ontario and at the regional level in 2018 in terms of household income, employment, GDP and government revenue supported.
These economic benefits are just one reason that OMERS has become an increasingly vocal advocate for the defined benefit pension model.
Billion pension benefits paid
Billion contribution to Ontario's economy from OMERS activities†
Jobs in Ontario communities are supported through OMERS pension payments†
Jobs in Ontario communities supported through OMERS activities†
†OMERS and its Members: Ontario Economic Contribution. Canadian Centre for Economic Analysis. February 2020.