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Social and Economic Value of the Plan

Supporting Ontario’s Economy and Communities

OMERS activities help to generate almost $12 billion of GDP annually in Ontario and provide social value to communities across the province. Almost $7 billion of the economic contribution is generated by retirees spending their pension payments, and approximately $5 billion comes from OMERS investments and operations in the province. Together, this activity supports more than 118,000 jobs provincewide. Based on their review of 2020 data, this was the conclusion of independent research conducted for OMERS by the Canadian Centre for Economic Analysis.

A second study, which examined survey responses of OMERS members who live in Ontario and the responses of the general Ontario public, found that providing a secure and stable pension delivers value beyond monetary benefits. The research reported a strong association between pension plan participation and a higher satisfaction with life for both active and retired members. It also found that access to a secure and stable pension provides a strong bond between employees and employers.

Please find below highlights from these studies. Full copies of these 2021 research reports are available here.

OMERS Impact Summary Report

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A summary of our social value and economic contribution research .pdf
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(1.1 MB)

Contributing to Ontario's Economy

Based on 2020 data

$11.9B

OMERS approximate contribution to Ontario's economy


$3.3B

The amount of provincial and federal tax revenue generated by OMERS activity

1 in every 64 jobs

The number of jobs supported by OMERS activities in Ontario; a total of 118,000 jobs

  • 1/4 of these jobs are held by people under the age of 30

  • 1/3, or 39,000, of the 118,000 jobs are in rural communities



91%

of active OMERS members (and 87% of members under the age of 35) said their OMERS membership is an important factor in their decision to stay with their employer

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Generating social value

Pension plans result in higher life satisfaction

People with a pension plan were almost 50% more likely to report higher satisfaction with life than people who do not participate in a pension plan.

“This is largely due to the reported positive impacts on their long-term financial security, positive impacts on physical and mental health, less stress, and higher community involvement and leisure time. It also demonstrates the potential value of extending access to pensions to more people across society.”
— Social Value Benefits Report, 2021


Social Value: Meaningful Benefits for Individuals and Communities

The study leveraged and compared survey responses of more than 4,000 Ontario-based OMERS members and more than 1,000 responses from the general Ontario public.

Responses from OMERS retired members indicated the following:

54%

more likely to report higher satisfaction with life than people who do not participate in a pension plan

90%

attributed higher life satisfaction to being part of a defined benefit pension plan

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Financial Security

20% higher feeling of financial security
48% felt they had saved well to meet their retirement needs


Mental and Physical Health image
Mental and Physical Health

15% higher satisfaction with their health
42% rated their physical health as very good or excellent

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Reduce Stress

22% more likely to report lower stress levels
29% less likely to attribute stress to financial concerns

Community Involvement and Leisure image
Community Involvement and Leisure

38% more likely for OMERS retired members to volunteer time in their community
94% donated to charities and not-for-profits


For full copies of the research

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Social Value Benefits, 2021 .pdf
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(9.5 MB)
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Economic Contributions in Ontario, 2021 .pdf
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(11.8 MB)
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Ontario Economic Contribution, 2020 .pdf
Ontario Economic Contribution, 2020
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(3.4 MB)
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Social Value Research, 2017 .pdf
Social Value Research, 2017
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(3.2 MB)
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Research Summary, Social Value Research 2017 .pdf
Research Summary, Social Value Research 2017
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(297 KB)


Economic Contributions, 2020


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We are OMERS

Our members are who we come to work for each day.

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