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OMERS Pensions to Increase by 1.45% in 2017

November 21, 2016

OMERS announced that pensions will increase by 1.45% as of January 1, 2017. This increase reflects the change in the cost of living as measured by the Canadian Consumer Price Index (CPI).

OMERS inflation protection increases retirement, disability and survivor pensions each year. OMERS uses a similar method to that used by the Canada Pension Plan (CPP) to calculate its annual increase for pensions, but CPP has a different rounding approach.

In late December 2016, OMERS will send an Annual Statement of Pension to retired members and survivors, with their updated pension amount for 2017. Members whose pensions began in 2016 will receive a pro-rated increase.

How the Annual Increase is Calculated

Here’s how this year’s increase was calculated:

[CPI average 12 months (Nov. 2015 to Oct. 2016)/ CPI average 12 months (Nov. 2014 to Oct. 2015) – 1] x 100

[128.09/126.26 – 1] x 100 = 1.45% (rounded to two decimal places)

More about OMERS inflation protection