Governance

The SC strives to achieve best practice standards in corporate governance in fulfilling its mandate as described in the OMERS Act, 2006. To achieve this goal, the SC has developed policies and practices with input and advice from third-party advisors who are expert and experienced in the field. The SC governance structure includes:

  • Ensuring that the decisions it makes about benefits and contribution rates are properly reflected in plan texts
  • Having corporate by-laws and policies that support the commitment to best practice standards
  • Regard for the overall plan funding process
  • Working together with the OAC under a unique, bicameral governance structure

OMERS Act, 2006

The OMERS Act, 2006, and the OMERS Review Act, 2006, established a new, independent governance model for OMERS and a formal review process for the new structure.

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Plan Texts

Plan texts are legal documents that define the benefits and administration rules of a registered pension plan, and are filed with the regulators. Any change to the OMERS Primary and/or Supplemental Pension Plan requires development of a by-law to capture the plan text amendments.

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By-Laws & Policies

In addition to plan change by-laws, SC by-laws and policies reflect a commitment to best governance practices and provide guidelines for future decisions.

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Statement of Plan Design Objectives and Strategy

This document is intended to provide a framework for effective decision-making regarding the funding of the OMERS Primary Pension Plan. The Statement, along with the OAC Funding Policy, forms part of OMERS overall funding process for the Primary Plan.

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Memorandum of Understanding

Learn about the Memorandum of Understanding that supports regular and appropriate information exchange between the SC and the AC. 

Read our Memorandum of Understanding