Advocating for our members through the Social Value and Economic Contribution Studies
In February, we shared our Social Value and Economic Contributions reports with you, conducted by the Canadian Centre for Economic Analysis (CANCEA), which detailed how OMERS and other defined benefit pension plans bring to light a range of benefits linked to a secure and stable income in retirement.
The studies demonstrate that there is value “beyond the cheque,” which extends beyond the lives of individual retired members and has a positive impact on people, employers and communities across Ontario. This impact and the related benefits underscore the importance of defined benefit pensions as part of a strong pension sector.
That’s why we’ve been sharing our findings in various ways. We recently released an Impact Report, which highlights the additional value OMERS brings to members’ lives – from greater financial security to an increased role in volunteer work – and how our investments help to support the Ontario economy and make our province thrive.
Celine Chiovitti, OMERS Executive Vice President and Head of Pensions, recently wrote a feature article in the Benefits and Pensions Monitor magazine detailing the far-reaching impact of the OMERS Plan, which you can read here (see page 30).
Further, Celine recently spoke at Vantage: Building Value for Public Pensions, a national pension plan conference that brought together public pension plan managers to discuss ideas on a future path to pension sustainability. Celine discussed the value of research and sharing evidence-based findings on how pension plans like OMERS contribute to society.
The findings from the studies also reinforce that access to retirement savings opportunities, which enable better health and security in old age, is an important conversation to be had, seeing as it has implications on both pension recipients and the broader community.