Pension Calculation
What factors determine the amount of an OMERS pension?
Credited Service and "Best 5"
Where are AVC contributions invested?
Funds contributed to an AVC account will be invested in the OMERS Fund and will receive the same net investment return and experience the same variability as the OMERS Fund.
Who is first in line for the Legal Order of Entitlement?
Eligible Spouse
What year did Canada become a confederation?
1867
What is the formula used to calculate a member's lifetime pension + bridge benefit?
2% x Credited Service x "Best 5"
What is the AVC withdrawal window?
March 1 to April 30
How is the survivor pension calculated?
Typically 66 2/3% of the member’s pension.
What is the national sport of Canada?
Lacrosse (summer) and Ice Hockey (winter)
What does YMPE stand for?
Year’s Maximum Pensionable Earnings
How much power does Bruce Power produce for the province of Ontario?
30%
Can a surviving spouse continue receiving OMERS survivor benefits if they remarry?
Yes, remarrying does not affect their entitlement to survivor benefits.
What animal is featured on the Canadian quarter?
Caribou
How does part-time service affect OMERS pension calculations?
Service is pro-rated based on hours worked relative to a full-time schedule.
This was introduced in 2016 in response to members' requests to keep non-locked-in funds in an AVC account beyond the year in which one turns age 71.
AVC Income Option
What is the eligibility age for dependent children to receive OMERS survivor benefits?
Dependent children are typically eligible until age 18, or up to age 25 if they are in full-time education.
Which Canadian artist is known for painting the landscapes of British Columbia and Indigenous themes?
Emily Carr
How are contribution rates determined for OMERS members?
They are determined based on actuarial assessments of plan funding needs.
This was introduced in 2023 to lay a foundation for achieving our climate-related ambitions and supporting the transition through real world decarbonization.
Climate Action Plan (CAP)
What happens to survivor benefits if there is no eligible spouse?
The benefit may be paid to eligible dependent children or as a lump sum to the beneficiary/estate as a residual refund.
Who was the first Canadian woman to go to space?
Roberta Bondar