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While the purpose of your bridge benefit is to help supplement your lifetime pension until age 65, there is no link between a CPP pension and OMERS bridge benefit. Your CPP pension is based on how long you have worked and contributed to CPP, and the OMERS bridge benefit is based on your credited service in OMERS.
CEDA is a portfolio company of OMERS, the defined benefit pension plan for municipal employees in the Province of Ontario. Founded in 1962, OMERS is one of Canadas largest defined benefit pension plans with $121 billion in net assets as of December 31, 2021.
Maximizing Your Pension Maximize your pension by purchasing past service (from your previous or current employer) through a buy-back. You can use the Buy-back Costing tool in myOMERS to find out how much it would cost to purchase your service.
Background. Your OMERS pension is designed to work with the Canada Pension Plan (CPP) to help provide a reasonable, total retirement income. Heres how: While you work, you pay a lower OMERS contribution rate on the portion of your earnings for which you also contribute to CPP (up to $66,600 in 2023).
Your OMERS pension is designed to work with the Canada Pension Plan (CPP) to help provide a reasonable, total retirement income. Heres how: While you work, you pay a lower OMERS contribution rate on the portion of your earnings for which you also contribute to CPP (up to $66,600 in 2023).
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Contributory earnings must include all regular earnings, as follows: Base wages or salary Rgular vacation pay if there is corresponding service Normal vacation pay for other-than-continuous full-time members.
You can find the formula in the How your pension grows section. The maximum OMERS disability pension that you can receive is 85% of your monthly contributory earnings that you last received from your OMERS employer.
For benefits earned on or before December 31, 2022, OMERS uses the average of the CPI for the 12-month period ending in October and compares it to the average for the same period in the previous year. The percentage increase determines the inflation adjustment for pensions up to a maximum increase of 6%.
A typical multiplier is 2%. So, if you work 30 years, and your final average salary is $75,000, then your pension would be 30 x 2% x $75,000 = $45,000 a year. That $45,000 becomes your guaranteed lifetime income.
The OMERS Plan is a defined benefit pension plan, which means you can expect a predictable monthly income for life. Together with government benefits and your savings, your OMERS pension can grow into an important financial asset and play a key role in your financial security in retirement.

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