In May 2019, we refreshed our 2020 Strategy, setting out our key areas of focus for the next five years. This 2025 Strategy keeps us on the path to making OMERS a sustainable, affordable and meaningful Plan, while managing challenges across the pension landscape.

Similar to many pension plans across the globe, OMERS is experiencing demographic and social shifts that will make our future different from our past:

  • Over time, there will be more members receiving retirement benefits from the OMERS Plan than there will be contributing to it. This “plan maturity” means that the Plan will have a reduced ability to recover from unanticipated events that could occur in the future – and the impact from those events could be more severe – especially for active members and employers.

  • Members are living longer than they have in the past. This means that OMERS must be able to pay pensions for longer and we have to carefully consider how this impacts future investing, contributions and Plan design decisions.

  • Work is changing. Automation is affecting many jobs and part-time employment is increasing. This means that the profile of our membership decades from now will likely be significantly different from our membership today. We need to plan today for a variety of outcomes.

  • Investment markets are changing. Aging populations around the globe reduce our expectations for economic growth and point to a sustained period of low interest rates. The risks of geopolitical unrest have become high. OMERS needs to prepare for a more volatile and lower return environment.

The success of our strategy depends overwhelmingly on the strength of our people — who are strongest when they can bring their whole selves to work.

For us, inclusion means belonging. At OMERS, 92% of employees say they feel they belong, and 88% feel the OMERS environment enables them to be themselves at work. While we are encouraged by these metrics, we remain focused on fostering an environment of belonging.

We build inclusion from the ground up in several ways: we invest in programs and development opportunities to accelerate personal and professional growth. We support employees in establishing resource groups they feel are important. And we celebrate the diversity of cultures across the organization and around the world.

Here’s how our 2025 Strategy addresses these challenges:
EVOLVING the OMERS Plan. We aim to ensure its continued sustainability, and to meet stakeholders’ needs through exploring Plan design modernization, simplification and membership growth.
ENSURING the Plan’s financial health. We will continue to manage its funded status and its discount rate, among other inputs. For example, we believe that contribution rates are unlikely to decrease in the foreseeable future, even after the Plan achieves full funding.
MAINTAINING a diverse investment portfolio. Our priorities include diversifying globally and continuing to incorporate Environmental, Social, and Governance factors into our investment decisions.
IMPROVING stakeholder trust and understanding. We are focused on enhancing stakeholder engagement, government relations and our service delivery to our members.
ADVANCING our operational capabilities. We know that talent depth, data and technology, and costs are important to executing our strategy.
In early 2020, the SC announced potential Plan design changes that it is considering; more information is available at OMERS has scheduled Sponsor and Stakeholder Forums for April and May 2020 to discuss these potential changes, and we anticipate the SC will make and announce a final decision in June.

We will continue to share with you our progress against this strategy, in the regular communications you receive from us, at our forums and meetings with Sponsors and Stakeholders and annually in this report to members.