Net investment income
Funded status (smoothed)
Real discount rate
Total pension benefits paid in 2021
Average annual pension for members retiring in 2021
Greenhouse gas emissions by 2050
1981 | 5.6:1
2001 | 2.3:1
2021 | 1.6:1
A jointly sponsored, defined benefit pension plan, with 1,000 participating employers ranging from large cities to local agencies and over half a million active, deferred and retired members.
Our members include union and non-union employees of municipalities, school boards, local boards, transit systems, electrical utilities, emergency services and children’s aid societies across Ontario. Contributions to the Plan are funded equally by members and employers.
OMERS teams work in Toronto, London, New York, Amsterdam, Luxembourg, Singapore, Sydney and other major cities across North America and Europe – serving members and employers and originating and managing a diversified portfolio of high-quality investments in public markets, private equity, infrastructure and real estate.
The benefits OMERS provides are funded equally from active members’ and their employers’ contributions, combined with investment income. We expect that the majority of future benefit payments for today’s active members will be funded by investment returns.
OMERS actively seeks out opportunities to engage with decision-makers to advocate for the advantages of the jointly sponsored, defined benefit pension model.
The OMERS Pension Plans comprise the OMERS Primary Pension Plan; the Retirement Compensation Arrangement (RCA) for the OMERS Primary Pension Plan; and the Supplemental Pension Plan for Police, Firefighters and Paramedics, which has no assets, liabilities or members. When we refer to the “OMERS Plan” or the “Plan” in our communications, it is the OMERS Primary Pension Plan that we are typically referring to, unless otherwise specified. For information on the RCA, refer to Management’s Discussion & Analysis. When we refer to the “OMERS Act”, it is to the OMERS Act, 2006, as amended.
The current average contribution rate paid by members is 10.5%, which is matched equally by employers. Contribution rates and benefit accruals remain unchanged for 2022. Pension payments to retired members increased by a cost-of-living adjustment of 0.94% in 2021 and 2.74% in 2022, representing 100% of the eligible increase calculated in accordance with the Plan text.