80 Factor and 85 Factor

The enhanced early retirement 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 normal retirement age of 60 in the Primary Plan. A member has an 80 Factor when their age plus service (credited service plus eligible service) 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 normal retirement date.

If there is no benefit payable, the minimum value guarantee would apply and the member's Supplemental Plan contributions plus interest may be refunded.

OMERS Primary Plan includes a 30-year provision for early retirement

Members can retire with an unreduced pension when their service (credited plus eligible service) equals 30 years provided they meet the minimum age requirement.

An unreduced pension is based on a member's earnings plus service, and there is no reduction.

Minimum age requirement

The minimum age requirement for early retirement is:

  • age 55 or older for members with a normal retirement age of 65
  • age 50 or older for normal retirement age 60.

Supplemental Plan benefits are not automatically provided. Employers can set up Supplemental Plan coverage for a class or classes of members in the police sector, firefighters and paramedics.