In response to member and stakeholder requests, the OMERS Sponsors Corporation (SC) Board approved an amendment to the OMERS Primary Pension Plan (Primary Plan) to change the Additional Voluntary Contributions (AVC) program.
The amendment allows members to keep non-locked-in funds in an AVC account after the year they turn age 71. This part of the AVC program is called the “AVC Income Option.” For more details on AVCs and the AVC Income Option, visit AVCs.
The OMERS Sponsors Corporation approved changes to the contribution rates of the OMERS Supplemental Pension Plan for Police, Firefighters and Paramedics (Supplemental Plan), effective January 1, 2017. Although there are currently no members in the Supplemental Plan, contribution rates must be adjusted periodically to reflect our current expectations about the future.