The Ontario Municipal Employees’ Retirement System is reporting inflation adjustment of 2.61 per cent, providing plan members with full inflation protection in 2025.
The adjustment is calculated at 100 per cent of the percentage increase in the 12-month average consumer price index for the period ending in October over the average for the same period in the previous year.
Read: New Brunswick PSPP announces 5.24% COLA, 0.32% below CPI
OMERS plan members and dependants who started receiving pension benefits prior to December 2024 will receive a pro-rated increase, while pensions that begin this month will be eligible to receive their first increase on Jan. 1, 2026.
The University Pension Plan is also providing plan members with a 2.03 per cent increase to their pension benefits on Jan. 1, 2025. For members with service earned under a prior pension plan that converted to the UPP, this increase will only apply to pensions accrued under UPP provisions for service on and after the date the prior plan joined the UPP, according to a press release.
Read: Federal public sector pension indexation rate set at 4.8% for 2024