Generating Social Value and Supporting Economic Contribution

In 2021, we set out to better understand and measure the economic contribution and social value generated by pension plans like ours. That’s why we commissioned two new reports conducted by the Canadian Centre for Economic Analysis (CANCEA). The reports found that OMERS supported more than 118,000 jobs and contributed more than $11.9 billion to Ontario’s GDP, based on 2020 data. In fact, OMERS activity supports 1 in every 64 jobs across Ontario! /sites/omers-newsletter/static/images/sites/omers-newsletter/static/images/sites/omers-newsletter/static/images/sites/omers-newsletter/static/images/sites/omers-newsletter/static/images

“Research conducted by CANCEA confirms that the high-quality investments we make across Ontario, and the billions of dollars in pension benefits paid every year to OMERS members, generate meaningful economic benefits that extend into communities across the province,” said Jonathan Simmons, OMERS Chief Financial and Strategy Officer.

The research found that providing a secure and stable pension delivers value beyond pure monetary benefits. It underlined the role a pension income plays in improving the lives of OMERS members, strengthening communities in Ontario and generating stronger bonds between employees and employers, supporting retention and productivity.

Retired OMERS members reported higher life satisfaction than the non-OMERS members who do not have a pension plan. CANCEA has attributed this to the increased financial security that having access to secure and stable income at retirement has, enabling them to play an increased role in their communities.

“We are proud to serve our members and have long believed that the value of a pension reaches far beyond the members who receive it. The CANCEA research findings confirm our beliefs,” said Celine Chiovitti, Executive Vice President and Head of Pensions.

Access to defined benefit pension plans, such as OMERS, has positive and far-reaching impacts on the lives of Canadians, the economic vitality of communities and the creation of jobs!

To read more about the Social Value and Economic Contribution studies, visit Social Value and Economic Contribution at omers.com.