Pensions

Let me start by expressing my deepest gratitude to the policing community across Ontario for your service. The important work that each of you does across the province to keep neighbourhoods safe, to enforce the law, and to educate the public on safety matters has never been more critical. I am saddened by the tragic deaths of on-duty police officers recently killed in the line of duty. These deaths are deeply disturbing and a reminder of the risks that officers face daily and the nobility of this vocation. As you carry out your duties, OMERS remains steadfast in our dedication to providing you with a secure and stable income in your retirement.

At OMERS, our job is to serve the 560,000 members across the province who rely on us for their retirement security. You’ll be happy to know that we currently have a member satisfaction rating of

95% – the highest it has ever been! Surely a testament of our commitment to you. Your pension plan is working hard for you. I want to share some pertinent highlights from the OMERS Annual Report. In 2022, despite the challenges of a volatile market, our portfolio performed well, generating a return of 4.2% net of expenses, and adding $4.9 billion of investment income, growing OMERS net assets to $124.2 billion as at December 31, 2022. Our focus is on the long term: to ensure we create value across our portfolio and deliver a sustainable and affordable defined benefit (DB) pension plan for generations to come.

We also know that DB pension plans like OMERS provide social and economic value across Ontario – validated by the 2021 research that OMERS commissioned through the Canadian Centre for Economic Analysis

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(CANCEA). This research helped us better understand how plans like ours benefit members and communities beyond the cheque. It revealed that OMERS members were 54% more likely to report an overall satisfaction with life compared to Ontarians who do not have a pension plan.

OMERS Plan retirees are more satisfied with their health than their peers and report greater satisfaction with their level of stress compared to those who do not participate in a pension plan. Our plan is also a great employer attraction and retention tool. In addition, OMERS contributed over $12 billion to Ontario’s GDP, and created more than 118,000 jobs across the province.

We recently partnered with the National Institute on Ageing (NIA) at Toronto Metropolitan University to better understand how a secure and stable income in retirement affects health. We look forward to sharing more on the findings of this report with you later this year.

To help you to learn more

Save for retirement with OMERS AVCs

Did you know that active members of the OMERS Plan have an opportunity to save for retirement by making Additional Voluntary Contributions (AVCs)? As an OMERS Plan member, AVCs offer you another way to diversify your retirement savings portfolio, separate from your defined benefit pension.

When you contribute to an AVC account, you’re investing in the OMERS Fund, which is a globally diverse asset mix that includes public and private market investments. AVCs are offered on a cost-recovery basis, which means no profit margin is built into the calculation of the fees and expenses.

To learn more about AVCs, visit omers.com/events to attend an information session.

about your pension, we are producing an exciting new podcast called The Pension Blueprint that will launch in the fall. Our Pension Education team will cover the A to Z of retirement planning with episodes on the right time to retire, navigating life changes such as separation and divorce, and the pensions landscape. Our episodes will also cover broader topics such as sustainable investing and a guide to retirement for each generation. We will deliver each episode directly to your inbox through a series of emails beginning in September – stay tuned!

We are committed to sup- porting our members and friends at the Police Association of Ontario (PAO) by modernizing for the future – by providing more ways to access self-service and pension education tools in myOMERS and empowering your retirement journey from hire to retire. We regularly meet with President Baxter and his Executive Team to discuss police-sector issues. Our strong relationship with the PAO helps us to better understand the issues that affect you.

In closing, please know that at OMERS, we are deeply grateful for the work that you do across the polic

Sign up for myOMERS

Visit where you can plan for your financial future using our Retirement Planner tool and send a secure message to our Member Experience team if you have any questions. If you don’t have a myOMERS account yet, creating one is easy! All you need to get started is your 7-digit reference number from OMERS (which you can find on your Pension Report or Annual Statement), the last three digits of your social insurance number, and your date of birth. ing community. We will continue to provide you with a secure, affordable, and meaningful pension plan, and all the tools and services you need throughout your pension journey – whether you’re a new hire or ready to retire!