OMERS Backgrounder-EN

OMERS Background-EN

Informations Background  information on our campaign

In 2020, the OMERS Sponsors Corporation board of directors – our pension plan’s decision-making body — voted to eliminate guaranteed indexing for service worked after January 1, 2023. That’s a cut that directly affects your retirement security.

Now the board for the OMERS Sponsors Corporation is in the process of reviewing further changes to contribution rates and/or benefits based on a top-secret “Plan Risk Assessment” that is being conducted behind closed doors.

OMERS ended 2022 with $124 billion in assets. It grew by 4.2% last year, adding $4.9 billion in investment income to the plan,

OMERS is nearly 100% funded, and not in significant deficit.

The OMERS pension payment formula is already the second lowest among peer plans in Ontario..

Other Ontario public sector pension plans haven’t cut their plan members’ pension benefits. In fact, the Healthcare of Ontario Pension Plan (HOOPP) has significantly improved benefits in recent years.

The goal of the Cancel the Cuts campaign is to make OMERS decision-makers accountable to plan members, our unions, and employers and secure predictable, secure, lifetime pensions for its members.

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