Normal Retirement Age Conversion: 65 to 60

If your normal retirement age changes from 65 to 60:

  1. You immediately begin to pay normal retirement age 60 contribution rates.
  2. You are immediately entitled to normal retirement age 60 benefits if you retire or leave your OMERS employer.
  3. OMERS applies an adjustment to your past credited service – your past credited service is reduced by up to 25% because you are now entitled to normal retirement age 60 benefits.
  4. OMERS provides you with a package detailing the service adjustment, the cost to buy the service adjustment and an election form and instructions for purchasing the service adjustment. (Note: The conversion cost is valid for six months. After six months, the cost expires. If you still wish to buy the service adjustment, you would have to request an updated cost which could be higher or lower.)

The Service Adjustment

If your normal retirement age changes from 65 to 60, OMERS applies an adjustment to your past credited service because you are now entitled to normal retirement age 60 benefits. Your past credited service is credited service earned before your conversion date.

Learn more about the service adjustment

The Cost to Buy the Service Adjustment

The cost to buy the service adjustment will change as you get older.

Learn more about the cost

Buying the Service Adjustment

What you need to know about buying the service adjustment.

Learn about buying the service adjustment

Case Studies

Buying the service adjustment is a personal decision and may or may not fit your plans for retirement.

Read case studies