OMERS announced that pensions will increase by 2.74% as of January 1, 2022. This increase is reflective of general changes in the cost of living measured by the Consumer Price Index and published by Statistics Canada.
OMERS inflation protection increases retirement, disability, and survivor pensions accordingly. Therefore, members whose pensions began in 2021 (prior to December) will receive a pro-rated increase. Members whose pensions begin in December 2021 will be eligible to receive their first increase on January 1, 2023.
Pensioners are notified of this increase in late December through the Annual Statement of Pension provided to retired members and survivors, listing their inflation-adjusted pension amount for 2022. The statements are posted on the secure member portal, myOMERSOpens new window or mailed to members who prefer to receive their pension information by mail.
Pensioners who would like to access their Annual Statement of Pension as soon as it is available can create a myOMERSOpens new window account. Registering for a myOMERS account is easy and provides safe and secure access to pension information 24/7. In their account, members can easily change their address, phone number, email address and access important pension documents – all online!
Comments