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 annual audit of our pension database is underway.
On August 31, OMERS Sponsors Corporation (SC) approved a change to the Additional Voluntary Contributions (AVC) program that allows members to keep non-locked-in funds in their AVC account after the year they turn age 71. With this new part of the program, which is called the "AVC Income Option", members can keep their AVC account for their lifetime.
In 2015, OMERS continued to make steady progress towards delivering secure and sustainable defined benefit pensions to the Planâs members. Its funded status improved to 91.5% as a result of investment returns and member and employer contributions, compared with 90.8% the year before.
OMERS announced that pensions will increase by 1.16% as of January 1, 2016. This increase reflects the change in the cost of living as measured by the Canadian Consumer Price Index (CPI).