Yes. If a member's annual salary rate exceeds the amount that generates the maximum pension allowable by the Income Tax Act (ITA), Supplemental Plan contributions will stop. A member would not earn a benefit in the Supplemental Plan during any period in which their benefit exceeds the ITA limit.
Note: The limit only affects Supplemental Plan contributions. The Primary Plan includes a Retirement Compensation Arrangement to provide pension benefits for those members with earnings exceeding the ITA limit.
Supplemental Plan benefits are not automatically provided. Employers can set up Supplemental Plan coverage for a class or classes of members in the police sector, firefighters and paramedics.
Rate Change Notice
On August 25, 2011, the OMERS Sponsors Corporation (SC) adopted SC By-law #25 that establishes a new set of contribution rates for the Supplemental Plan for Police, Firefighters and Paramedics, to be effective retroactive to January 1, 2011. See the announcement and accompanying fact sheet for details.