For Your Information
Grow your retirement savings with AVCs
Additional Voluntary Contributions (AVCs) are a unique opportunity available exclusively to OMERS members to build additional retirement savings, separate from your OMERS defined benefit pension, by allowing you to invest in the OMERS Fund. AVCs are voluntary and may not be right for everyone’s retirement savings plan or life stage. Learn more about AVCs here, including how they work and whether they are right for you./sites/omers-newsletter/static/images
As you plan for the new year ahead, we want to remind you about the contribution options available to you.
If you are considering the AVC option, and think it is right for you, there are two ways to contribute:
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You can perform a transfer to move registered retirement savings funds into your account (also referred to as a lump-sum transfer) during the transfer-in window (see below) each year up to and including the year you turn age 70.
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Active members also have the option to make automatic contributions via pre-authorized debit from your bank account or payroll deductions (if your employer offers this service).
As an important reminder please also note that in 2021, OMERS passed a resolution to publish a mid-year investment update for the first time to enhance our transparency and share our progress with you. Because of this change, the window of time in which you can make lump-sum transfers to your AVC account is changing. Starting in 2022, you can make lump-sum transfers to your AVC account during the transfer-in window between January 1 to June 30 of each year.
The future of work: non-full-time employees will be eligible to join Plan
As the employment landscape continues to evolve and an increased number of non-full-time employees enter the workforce, OMERS will be providing eligible non-full-time employees the option to elect to join the Plan without having to meet the current eligibility requirement starting on January 1, 2023. /sites/omers-newsletter/static/images/sites/omers-newsletter/static/images/sites/omers-newsletter/static/images/sites/omers-newsletter/static/images
Making it easier for non-full-time employees to join OMERS by removing the current eligibility requirement will provide access to retirement security to a greater number of employees and make our OMERS pension plan even stronger. If you know a non-full-time employee who is considering enrolment into the Plan, please encourage them to have a discussion with a Member Experience Specialist at client@omers.com.
OMERS Annual Meeting - Save the Date
OMERS Annual Meeting to present the 2021 financial results and provide other key updates will be held on the morning of April 11, 2022. It will be held virtually given the ongoing pandemic. It is an important year for us. It marks the 60th year anniversary of OMERS proudly serving members across the province of Ontario. We look forward to seeing you at the 2022 Annual Meeting to celebrate this important milestone.
Free webinars from the Pension Education & Relationship Management team
Your OMERS defined benefit pension can be one of your greatest assets, and we know you have questions. Whether you’re new to OMERS, preparing to retire or somewhere in between, our Pension Education & Relationship Management team is here to help. Our webinars will help you learn more about your pension and allow you to ask any questions you may have. Click the links below to register for an upcoming session. Secure your spot now because space is limited!
Maximize Your Retirement Income | February 9 | 12:00 p.m. to 1:00 p.m.
How OMERS Calculates Your Pension | February 9 | 4:30 p.m. to 5:30 p.m.
The Power of Your Pension Plan – Retirees | February 15 | 2:00 p.m. to 3:00 p.m.
The Power of Your Pension Plan – Active members | February 15 | 5:30 p.m. to 7:00 p.m.
See a full list of dates and topics on our Events page.