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Explore the OMERS Pension Plan

The OMERS defined benefit pension plan is designed to provide a reliable stream of income in retirement.

An OMERS pension can be one of our members' most valuable assets. When our members retire, they receive regular pension payments that continue for the rest of their lives.

Plan Basics

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Pension Plans 101

Find out how the OMERS pension plan works and how it is helping to safeguard your retirement income.

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OMERS Pension Plans & Plan texts

More about the OMERS Pension Plans, with links to the legal Plan texts.

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Plan Features

Find out more about key features of the OMERS Pension Plan, including early retirement options, survivor benefits and disability benefits.

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Plan Funding

Making smart, long-term decisions to protect the Plan’s funded status is critical to keeping the Plan healthy.

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Plan Review

OMERS keeps a close eye on the pension environment to see if Plan changes are needed.

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Learn About my Pension

Members, learn about your Pension.

Here is why your plan matters!

The OMERS Pension Plan provides tangible value to our members and to the communities around us. Find out more about how this Plan matters.

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Plan 101

A pension plan is an important financial asset that can play a significant role in members long-term financial security. Plan members and/or their employers make contributions to a pool of invested funds that, along with the earnings generated from those investments, will provide members with income for their retirement.

Determining the benefit amount members will receive in retirement depends on the type of plan. There are two main types of retirement plans – defined benefit and defined contribution.

In a defined benefit plan, the member receives a definite, predictable benefit upon retirement. Contributions are made to a pool of invested funds which are set aside to pay for promised benefits.

In a defined contribution plan, the future benefit is unknown and can vary because it is impacted by the rate of return earned by the investment pool. What is defined in this type of plan is the amount of contributions that will be put into the plan.

OMERS is a defined benefit pension plan, which means that, in return for their contributions, members can expect a predictable, steady, monthly income in retirement.

With the OMERS defined benefit plan, members contribute a set amount from every pay cheque to the Plan, which their employers match dollar for dollar, and OMERS world-class investment team puts those contributions into high-quality assets.

The OMERS defined benefit formula takes into account members’ best five consecutive years of earnings and service in the OMERS Plan. For each year that members make contributions to the OMERS Plan they will earn service that will help determine future retirement income. The more years of service earned in the OMERS Plan, the larger the pension.

Members can estimate their future benefit because the benefit is pre-defined, based on their earnings and service, and takes into account ancillary benefits such as survivor benefits, disability benefits and more.

A defined benefit pension like OMERS is also a tax-efficient form of saving, with contributions helping to lower taxable income.

When they are ready to retire, members will receive a pension for life that is based on earnings and years of service in OMERS. When they reach retirement, they can enjoy life’s next adventure with the peace of mind that comes with predicable steady monthly income.