Employer-matched contributions
You will contribute a percentage of your earnings to help pay for your future pension. Your employer will also contribute an equal amount. These contributions will fund a portion of your pension. OMERS investment earnings will fund the balance.
Income for life
OMERS is a defined benefit pension plan, which means you can expect a predictable monthly income in retirement. Together with government benefits and savings, the OMERS Pension Plan can grow into an important financial asset and play a key role in financial and retirement security.
Early retirement options
You can elect and begin to receive an early retirement pension on/ after your early retirement birthday, 55th birthday for most members who have normal retirement age of 65, or 50th birthday for police and firefighters who generally have a normal retirement age of 60.
Survivor benefits
OMERS provides survivor benefits to designated loved ones in the event of the member’s death.
Disability protection
Disability benefits are an important feature of the OMERS Plan. In the event that you are unable to work, you may be eligible for a disability benefit.
Inflation Protection
Inflation protection may increase OMERS retirement, disability and survivor pensions each year, based on the increase in the Consumer Price Index (CPI).Inflation protection on benefits earned prior to January 1, 2023 is fully guaranteed, whereas inflation protection on benefits earned after December 31, 2022 are subject to Shared Risk Indexing.
OMERS Bridge Benefit
If you retire before age 65, the bridge benefit supplements the OMERS pension until age 65, when it is expected that most members start their CPP pension. The OMERS bridge benefit continues to be paid to age 65 even if you start their CPP pension before age 65. From age 65 onward, you would continue to collect your lifetime pension.