OMERS Pension Guide

Other Information

Does membership affect my State Pension?

The State Pension is not affected by membership of the OMERS Workplace Pension Plan. The plan benefits are payable in addition to the State Pension.

Can I ‘opt out’ of the Workplace Pension?

➢ Yes, although you will miss out on valuable Pension contributions from OMERS if you do. ➢ Existing members of the Pension Plan will not receive a ‘Cancellation Notice’ although it is possible to request to leave the Pension. However, any contributions previously paid must remain within your Pension (they cannot be refunded). ➢ For new joiners, you will receive a ‘Cancellation Notice’ from Aviva shortly after first being contractually enrolled. This statutory notice will explain your rights. You will be given a 30-day period in which to ‘cancel’ your membership and receive a refund of any personal contribution already deducted from your pay. ➢ In the event of leaving the Pension Plan, legislation requires OMERS to reassess you broadly every three years and where applicable, to automatically re-enrol you back into the Pension Plan.

What happens if I take Maternity, Paternity or Adoption Leave?

Please refer to the relevant part of the Salary Exchange section of this Guide for full information.

What happens to my Pension contributions if I have to take medical leave?

➢ If you fall ill, and are unable to work, you may not be able to afford to continue to make Pension contributions. This could have a significant effect on the value of your future retirement benefits, but dependent on the contract of employment you have in place. ➢ During your absence, your employer continues to pay you when you are ill, they will also continue to pay their contributions into your Pension. They will also deduct your own contributions from your pay and pay these into the Pension. However, if pay reduces, or they stop paying you, after a certain amount of time, then the amounts paid into your Pension will reduce, or stop accordingly.

What happens if I am on a Group Income Protection claim?

➢ If you are on a Group Income Protection claim through your insurer, you should continue to make your own contributions for the duration of the claim, based on your actual earnings from the Insurer, as long as you wish to remain a member of the Workplace Pension Plan. ➢ Your Employer will match those contributions as it is contractually obliged to do. Your insured benefit will be paid to you through payroll in the usual way, so this will be done automatically. ➢ Pension contributions are not insured through the Group Income Protection scheme.

10