Your OMERS defined benefit pension
What does it mean to have an OMERS defined benefit pension plan? How will your OMERS pension help you reach your retirement destination? As an OMERS member, you have plenty to look forward to.
If you’re like most of us, you dream about the day when you can wake up without an alarm,
take your time over breakfast, spend your day doing whatever fun things you want, and not have to give it all up on Monday!
The question is… how best to get there?
There’s always the big win, or an inheritance, or investing on your own.
But the best path may be the one right in front of you. Your OMERS Pension Plan.
OMERS is a “Defined Benefit” pension plan, which means in a nutshell that when you retire,
you’ll receive a monthly pension for the rest of your life.
Here’s how it works:
You contribute a set amount from every pay cheque, which your employer will match dollar for dollar, and OMERS will expertly invest your contributions.
Here’s how you get it:
When you are ready to retire, you will receive a pension for life that is based on your earnings and years in OMERS. And if something happens to you, there will be survivor benefits to protect your family.
The OMERS plan gives you peace of mind and the information you need to really help you prepare for retirement. So that when you reach your retirement destination, you can be confident of one smooth journey.
Get ready. For life.