there are two ways to contribute to an avc

Fund Transfers to Your AVC Account

The fund transfer option is available to all OMERS members up to the end of the year in which they turn 70.

Fund transfers to your AVC account may come from an RRSP, a locked-in retirement account (LIRA) or other registered retirement vehicles.

AVC lump-sum transfer Process Map and FAQ sheet PDF File [62 KB]

Ready to get started? Set up an AVC account

Automatic Contributions to Your AVC Account

Automatic contributions are available only to active members. They're easy to set up, and:

  • Are automatically withdrawn via pre-authorized debit or payroll deduction if your employer offers the AVC payroll deduction option.*
  • Are subject to minimum and maximum contribution limits established by OMERS
  • Are tax-deductible in the year they are made.

*Beginning January 1, 2014, OMERS employers can choose to offer the AVC payroll deduction option.

Ready to get started? Set up an AVC account

Catch-up payments

Members making automatic contributions can make a payment to catch up on their automatic contributions for the year.

You may be able to make a catch-up payment if:
  • you started automatic contributions partway through the year; or
  • you’ve been contributing less than your biweekly or monthly maximum.

Learn more about catch-up payments in the AVC guide PDF File [8.5 Mb]

Ready to make a catch-up payment? Catch-up payments can be made online though myOMERS or by completing a paper Form 406 PDF File [937 KB].

Catch-up payment examples

Example 1

Peter has been making monthly automatic contributions of $150 since the beginning of the year. The monthly maximum he can contribute is $250.

If Peter makes a catch-up payment in August, the maximum payment he can make is:

7 months (January 1 to July 31) X $100 (see note below) = $700.

If Peter had been contributing $250 (the maximum for his earnings and service) for the entire year, he would not have been able to make a catch-up payment. However, if Peter started making automatic contributions partway through the year, he could make a catch-up payment for the months he did not contribute.

Example 2

Jane was enrolled in the OMERS Plan on March 1 and she immediately started making automatic contributions. The monthly maximum she can contribute is $250. She has been making monthly contributions of $150.

If Jane makes a catch-up payment in August, the maximum payment she can make is:
5 months (March 1 to July 31) x $100 (see note below) = $500.

Note: $250 (Peter and Jane’s monthly maximum based on their earnings and service) minus $150 (the amount of their actual monthly contribution).

Thinking about participating in AVC Automatic Contributions?

When deciding on how much, and how often, you wish to contribute, please remember that the $35 annual administration is not prorated and the full amount applies to your account regardless of the number of months contributed for the year. You may wish to keep this in mind when considering the amount, start date and frequency of your automatic contributions.