“Not just ‘one tough year’”: CUPE Ontario calls for independent review of OMERS investment performance

TORONTO, ON – The long-term underperformance of the Ontario Municipal Employees Retirement System (OMERS) pension plan urgently requires a full and independent review, says the Canadian Union of Public Employees (CUPE) Ontario in a report released today. Take action at cupe.on.ca/fixomers “Investment returns are a critical part of funding the pensions of front-line workers. Unlike…

“We won’t pay for the mistakes of OMERS executives”: CUPE Ontario

TORONTO, ON – CUPE Ontario is calling for increased scrutiny of today’s announcement by the Ontario Municipal Employees Retirement System (OMERS) that the pension fund lost more than $3 billion last year. This represents a shortfall of more than $10 billion compared to their own benchmark returns for 2020. OMERS manages more than $100 billion…

Public Sector Accounting Board (PSAB) Joint Letter

CUPE Ontario, along with the Association of Ontario Municipalities, OMERS and other OMERS plan sponsor organizations, has sent a joint letter to the Public Sector Accounting Board (PSAB). The PSAB is considering changes to how defined benefit pension plans appear on government financial statements. These changes would make the reported liabilities and costs of these…

Fred Hahn’s letter to MROO Board of Directors

CUPE Ontario will also express our concerns, in writing, to the Police Association of Ontario, the Ontario Professional Firefighters Association and the Ontario Secondary School Teachers Federation. Download the letter here or read below:   Municipal Retirees Organization of Ontario ATTN: Dan Carnegie, Executive Director RE: MROO Support for OMERS “Shared Risk” Indexing Proposal  …

Letter from CUPE New Brunswick regarding OMERS

Fred Hahn President, CUPE Ontario 80 Commerce Valley Drive East, Suite 1, Markham ON, L3T 0B2 Dear Brother Hahn, I understand that CUPE Ontario and other unions are fighting to protect guaranteed pension indexing in the OMERS pension plan. CUPE New Brunswick applauds you in this important fight and stands with you in solidarity. All…