For Your Information
OMERS Annual Meeting
This is a big year – OMERS is turning 60! We have spent the last 60 years proudly serving members and providing secure defined benefit pensions. If you have not already signed up, join us in marking this special occasion by registering to attend the OMERS Virtual Annual Meeting on April 11 at 9 a.m. EST. The OMERS Administration Corporation and Sponsors Corporation Board Chairs and leadership teams will present the OMERS 2021 financial results and provide other key updates about your pension plan, including how we are increasing the Plan’s strength and resilience to mitigate risk.
What happens to your pension when your relationship status changes?
Life changes, such as getting married or divorced, can have an impact on your pension. If you have a change in your relationship status, you may be wondering how it affects your OMERS pension.
A pension earned in a registered pension plan by a pension plan member during their marriage or common-law relationship is considered part of “family property” in the event that the member’s spousal relationship ends.
There is no requirement to divide the pension – it’s up to you and your former spouse. Deciding whether to divide your pension assets is an important decision. To begin this decision-making process, you may be required to obtain a valuation of your pension benefits, known as a Family Law Valuation. If you require a Family Law Valuation, please get in touch with our Member Experience team.
In addition – in the event of a life change such as death – OMERS Plan survivor benefits are paid according to a set order of entitlement that complies with the Ontario Pension Benefits Act. This order cannot be changed, for example, by a will.
The order of entitlement to survivor benefits is as follows:
If You Die Before Retirement
1. Eligible spouse – Your pre-retirement spouse can choose a survivor pension or cash refund.
2. Children – If there is no pre-retirement spouse, a children’s pension will be paid to any eligible dependent child(ren) for as long as they are eligible.
3. Designated beneficiary – If there is no pre-retirement spouse or eligible dependent child(ren), your designated beneficiary(ies) on file may be entitled to a cash refund.
4. Estate – If there is no pre-retirement spouse, eligible dependent child(ren), or designated beneficiaries, a cash refund may be paid to your estate.
If You Die After Retirement
1. Eligible spouse – Your retirement-date spouse (or post-retirement-date spouse if there is no eligible retirement-date spouse) will receive a survivor pension.
2. Children – If there is no retirement-date spouse or post-retirement-date spouse, a children’s pension will be paid to any eligible dependent child(ren) for as long as they are eligible.
3. Designated beneficiary – If there is no retirement-date spouse, post-retirement-date spouse or eligible dependent child(ren), your designated beneficiary(ies) on file may be entitled to a residual refund.
4. Estate – If there is no retirement-date spouse, post-retirement date spouse, eligible dependent child(ren) or designated beneficiaries, any residual refund may be paid to your estate.
Les changements de statut de relation sont complexes et l’impact sur votre rente peut dépendre de votre situation particulière. Pour plus de renseignements, consultez les sections Séparation et divorce et Planification pour les êtres chers sur omers.com.
When to expect your Pension Report
Active members will receive their Pension Report any time between January 1 and June 30, 2022. Your employer will submit your financial details to OMERS, after which your Pension Report will be generated. OMERS has more than 1,000 employers who send us year-end information at different times, which means that not all members receive their Pension Report at the same time.
The Report is a detailed, personalized snapshot of your earned pension to date. It includes information on how your pension is calculated and a summary of your contributions. Please review your Report and ensure your beneficiary details are up to date.
If you receive paperless communication, you will be notified by email once your report is viewable in your secure myOMERS account. If you receive paper communication, you’ll receive your report in the mail.
Don't have a myOMERS account?
Creating one is easy! All you need to get started is your 7-digit reference number from OMERS, the last three digits of your social insurance number and your date of birth.
With a myOMERS account, you can read your annual statement online with secure access and opt in for electronic communications from OMERS to:
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Access all your statements, reports and tax slips
Keep informed on current events
Read about survivor benefits
Send a secure communication
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Update your contact information and beneficiaries
Update your tax deductions
Use the Retirement Planner
Get answers to your pension questions
Your OMERS defined benefit pension can be one of your greatest assets, and it’s never too early or too late to start learning more about your pension. Our Pension Education & Relationship Management team is here to help with webinars that will allow you to ask any questions you may have as you prepare for this important journey. Click the links below to register for an upcoming session. Secure your spot now because space is limited!
The Power of Your Pension Plan – Retirees | April 5 | 10:00 a.m. to 12:00 p.m.
The Power of Your Pension Plan – Active Members | April 5 | 5:30 p.m. to 7:00 p.m.
Maximize Your Retirement Income | April 12 | 12:00 p.m. to 1:00 p.m.
How OMERS Calculates Your Pension | April 12 | 4:30 p.m. to 5:30 p.m.
Votre régime de retraite d’OMERS | April 14 | 1:00 p.m. to 2:00 p.m.
Preparing for Retirement | April 19 | 4:30 p.m. to 5:15 p.m.
The Power of Your Pension Plan – Retirees | April 21 | 2:00 p.m. to 3:00 p.m.
The Power of Your Pension Plan – Active Members | April 21 | 5:30 p.m. to 7:00 p.m.
The Power of Your Pension Plan – Retirees | April 26 | 2:00 p.m. to 3:00 p.m.
The Power of Your Pension Plan – Active Members | April 26 | 5:30 p.m. to 7:00 p.m.
OMERS Survivor Benefits | April 28 | 4:30 p.m. to 5:15 p.m.
See a full list of dates and topics on our Events page.