OMERS will increase its contribution rate over the next three years to counter its growing pension deficit, according to a report by Global Pensions.

OMERS’s Sponsor Corporation (SC) has approved an average increase of 1% for employers and employees in both 2011 and 2012. In 2013 contribution rates will increase by an average of 0.9%.

The pension fund reported a $1.5 billion deficit for 2009, and further losses are expected when negative returns from the 2008 market downturn are taken into account.

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