The Ontario-based plan contributed $15.3 billion to the province’s economy, report finds
A new economic and social value analysis released by OMERS on Thursday reveals the pension plan's growing significance to Ontario's economy, with its activities contributing $15.3 billion to the province's GDP in 2025.
The findings, produced by the Canadian Centre for Economic Analysis (CANCEA), underscore that pensions do far more than support retirees. They also fuel local economies, drive job creation, and deliver lasting stability to communities across the province.
The $15.3 billion GDP contribution marks an 11 per cent increase from 2023 and a 28 per cent jump from 2020, reflecting a steady upward trajectory for the jointly sponsored defined benefit (DB) plan. OMERS activities supported 135,200 jobs across Ontario in 2025, including nearly 40,000 in rural communities, and generated close to $4.2 billion in combined federal and provincial tax revenue.
In total, more than 832,000 Ontarians benefited from the plan's economic footprint.
"OMERS is a powerful economic engine for Ontario," said Jonathan Simmons, OMERS' chief financial and strategy officer. "These results underscore how pensions don't just support retirees -they help strengthen local economies, create jobs, and provide a stable foundation."
Meanwhile, the Greater Toronto Area (GTA) accounted for the largest share, with 71,500 jobs and a $7.9 billion GDP contribution, followed by Southwestern Ontario at 25,800 jobs and $2.7 billion in GDP. Eastern, Central, and Northern Ontario all saw meaningful contributions as well, reinforcing OMERS' role as a province-wide economic driver.
“Every month, OMERS pensions reach communities across Ontario, providing reliable income that retirees can count on,” said Celine Chiovitti, OMERS’ chief pension officer. “This report demonstrates just how meaningful that stability is, not only for our members, but for the local businesses, services and communities they support.”
Beyond the headline economic figures, CANCEA's research highlights what it calls a "stability dividend" - the measurable social value that a secure, defined benefit pension provides to members and their communities.
In a year marked by global economic uncertainty, OMERS retirees reported significantly high levels of life satisfaction, financial security, and overall well-being compared to broader populations.
That stability extends into community engagement as the study found that 61 per cent of non-retired defined benefit members donate $100 or more annually to charity - more than twice the rate of the general population - while over 75 per cent of retired members give at significant levels.
Volunteerism is also strong, with 61 per cent of OMERS retirees actively volunteering in their communities.
Meanwhile, 90 per cent of OMERS active members cite their pension as a key reason for staying with their employer, pointing to the plan's role in supporting employee retention across municipalities, school boards, transit systems, emergency services, and other public-sector organizations.
"These findings reaffirm the value of a secure, defined benefit pension and show how OMERS continues to make a positive impact across generations," said Chiovitti. “By supporting local jobs and helping retirees enjoy greater dignity and confidence, OMERS plays an important role in Ontario’s social and economic fabric.”
