Canadian Centre for Economic Analysis

OMERS and its Members: Ontario Economic Contribution

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With almost half a million active and retired members, OMERS is one of the largest defined benefit pension plans in Canada. The pension plan contributions of members and employers are invested around the world by OMERS to provide each member with a stable and secure source of retirement income. OMERS investments are found across the globe and in most communities in Ontario. All across the province, Ontarians benefit from the economic activity generated by these investments and by the activities of OMERS pension recipients.

In 2018, OMERS contributed over $10 billion to Ontario’s GDP and supported over 101,000 jobs through its members’ pension spending and its operations and investments. This contribution was especially important in Central Ontario, where OMERS supported the most jobs relative to the region’s population, and in Northern Ontario, the region with the largest number of OMERS pension recipients relative to its population.

This report presents a comprehensive assessment of the economic contribution of OMERS to Ontario and at the regional level in 2018 in terms of household income, employment, GDP and government revenue supported.