Welcome to OMERS!
As a non-full-time (NFT) employee of an OMERS employer, you are eligible to elect to join the OMERS Plan.
While for some of you, retirement can seem like a long way away, joining the OMERS Plan will set you up for success when the day comes. And time flies!
As one of Canada’s largest defined benefit pension plans, OMERS is dedicated to providing retirement security to more than half a million public service and other employees in Ontario. Starting in 2023, it’s going to be easier for non-full-time employees, like you, to join the OMERS Plan and receive our member benefits, including:
income for life
employer contributions towards your pension
early retirement options
a lower taxable income
The OMERS story
Helping to ensure financial security in retirement for over half a million public service and other employees in Ontario
The OMERS Plan is a defined benefit pension plan, which means you can expect a predictable monthly income for the rest of your life after you retire and start your OMERS Plan pension.
The more years of credited service you have in the OMERS Plan, the larger your pension benefit will be.
At a high level, here’s how it works:
Based on your earnings, a percentage will come off your paycheque from each pay period and go towards your pension.
Your employer will match your contributions and OMERS investments will also fund a portion.
The amount you contribute does not determine how much of a pension benefit you will receive when you retire. That’s determined by our pension formula.
Once you become an OMERS member, you can register for , an online resource available 24/7 with various self-serve tools. Every year, a report is posted to your myOMERS account outlining how much you’ve contributed as part of your Annual Pension Statement.
What our members are saying
OMERS and other defined benefit pension plans help Canadians retire with peace of mind and add billions of dollars to the Canadian economy. You can learn more about this in developed for OMERS by the Canadian Centre for Economic Analysis (CANCEA), an independent socioeconomic research firm, that illustrate the social value and economic contribution generated across Ontario by pension plans such as OMERS.
“When I retire, I can look back and say I set myself up for success as much as I could. I have no regrets. And I’m looking forward to it.”
– Zoe Vanderdolan, human resources specialist, Ontario Secondary School Teachers’ Federation
“My OMERS pension has enabled me to do lots of things. I am able to contribute to others and to help them as well.”
– Denise Campbell, retired, Peterborough Housing Corporation
Don’t wait to explore your savings opportunities
Putting money away today will help you retire with peace of mind
About the pension formula
There are two components of the OMERS Plan defined benefit formula: the lifetime pension and the bridge benefit (see the “Read more” section below for the details). Your lifetime pension is paid to you after you retire and for as long as you live.
Let’s put the formula into action and look at an example of a pension calculation for illustrative purposes.
Jane works for a school board for 10 months of the year. She can retire early in the year 2048 with an unreduced pension at age 55. She has 25 years of credited service + 5 years of eligible service. Her “best five” earnings are $50,000 and are based on the following:
When we calculate your pension, we look at annualized, pensionable earnings. For employees who do not work a full-time schedule or who do not work 12 months in each year, our calculation is not based on the earnings you would see on your pay statement or your T4, but rather on “annualized earnings” (i.e., the full-time equivalent of your earnings based on your pay rate).
Jane's lifetime pension calculation:
Your contributory earnings are your regular and recurring earnings in each pay period, excluding additional amounts such as overtime pay and most one-time and lump-sum payments.
You contribute a percentage of your contributory earnings in each pay period to the OMERS Plan through automatic deductions and your OMERS employer will also contribute an equal amount. These contributions will fund a portion of your OMERS pension. Investment earnings of the OMERS Fund will contribute the balance. Learn more about .
The current contribution rates are as follows and depend on your normal retirement age (NRA). Most OMERS members have an NRA of 65 but some police and firefighters have an NRA of 60. Your NRA is the age you can retire with an unreduced pension. But there are ways you can retire up to 10 years before your NRA. To learn more about retiring before your NRA, refer to the section of the Member Handbook.
Features of the OMERS Plan
Key elements of the OMERS Plan provide security and peace of mind during your career and in retirement
Stable income in retirement
The OMERS Plan helps to provide financial stability in retirement. For as long as you live after you retire, you will receive your OMERS pension.
Your enrolment guide
After you receive an offer of enrolment package from your employer or from OMERS in the mail, which will include the and some important paperwork, we recommend taking some time to read the Member Handbook in full and learn all the features of the OMERS Plan.
As a non-full-time employee, if your enrolment with OMERS is voluntary, you have options. You may choose to join the OMERS Plan, choose NOT to join or join at a later date. This is an important choice to consider as joining the Plan may not be right for you.
In the enrolment package, there is an form that you must complete to indicate your election to enrol or not to enrol in the OMERS Plan. Once you complete this form, it should be sent back to your employer. Not sure who to send it to in your organization? Get in touch with your employer and they will point you to the right person. Your employer will save a copy of your election.
If you choose to enrol and complete your Offer of OMERS Membership, your employer will enrol you in the OMERS Plan and you will receive a welcome package from OMERS, which will contain a unique seven-digit reference number to register for your account.
Enrolment in the OMERS Plan generally takes effect in your employer’s next available pay period after your election is received. Your enrolment date can be no later than the end of the month following the month in which your election is received.
If you choose not to enrol now, you have the option to enrol later as long as you’re employed by an OMERS employer. If you decide to enrol later, you will need to get in touch with your employer.
Remember! Once you become an OMERS member, you can register for , an online resource and portal available 24/7 with various self-serve tools. Every year, your Annual Pension Statement is posted to your myOMERS account containing important information about your OMERS Plan benefit, including how much you’ve contributed.