The enhanced factors allow members to retire with an unreduced pension earlier or with less of a reduction. The benefit acts as a top-up – it pays the difference between the Supplemental Plan and the Primary Plan benefit for the period of supplemental service.
The 80 Factor is available to members with a of 60 in the Primary Plan. A member has an 80 Factor when their age plus service ( plus ) equals at least 80.
The 85 Factor is available to members with a normal retirement age of 65 in the Primary Plan. A member has an 85 Factor when their age plus service (credited service plus eligible service) equals at least 85.
Important: The 80 or 85 Factor replaces the 85 or 90 Factor when determining any early retirement top-up pension. This benefit is only available if the member elects an immediate early retirement pension.
The top-up pension depends on the member's individual circumstances at retirement. A member could retire with an unreduced pension earlier or with less of a reduction. In some cases, there may not be a top-up pension. For example, in the following cases there would be no top-up pension:
- the member defers their pension (i.e., the member does not take an immediate early retirement pension when they stop working);
- the member is already entitled to an unreduced early retirement pension under the Primary Plan (see OMERS Primary Pension includes a 30-year provision for early retirement” below);
- the member retires on their
If there is no benefit payable, the minimum value guarantee would apply and the member's Supplemental Plan contributions plus interest may be refunded.