We at OMERS are responsible for protecting your pension – today and into the future. As part of this responsibility, the OMERS Sponsors Corporation Board, made up of representatives of sponsor organizations, reviews the health and viability of the Plan every year to ensure it remains sustainable, affordable and meaningful for the OMERS Community.
The past few months have been a very challenging time and we hope first and foremost that you, and the people you care about, are healthy and safe. At the start of this year’s plan review process, we did not foresee the COVID-19 pandemic, nor did we predict its impact on our communities and businesses. However, we feel that proceeding with the 2020 plan review process is important, prudent and very much in line with the pension promise we have made to you for the long-term.
Based on the latest review and the exceptional circumstances that the COVID-19 pandemic has presented, there are five Plan changes currently being considered.