For the last 18 months, OMERS has been conducting a review. They call it a “risk assessment,” but, based on OMERS’ past practice, we know it means OMERS decision-makers are considering more cuts to OMERS pension benefits. Beginning in 2007, there were annual proposals that would have cut your OMERS pension benefits. Workers defeated them…
TORONTO – DynaLIFE Labs, a company contracted by the Alberta government to privatize health care services, is trying to take away a pension plan from its employees. The twist? DynaLIFE’s majority shareholder is the Ontario Municipal Employees Retirement System (OMERS), a pension plan serving over half a million Canadians. In 2022, Alberta’s UCP government awarded…
The union representing 125,000 Ontario municipal workers who are members of the OMERS pension plan is calling for a third-party review of the plan’s investment performance after it posted a “shocking” loss in 2020. Read the full article here.
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…
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…
Dear OMERS Plan members, CUPE Ontario is profoundly disappointed to report to you that the OMERS Sponsor Corporation Board of Directors has voted in favour of eliminating the guaranteed indexing of your pension for service worked after December 31, 2022. The “Shared Risk indexing” proposal passed. This means that for service worked after December 31,…
June 16, 2020 By Email OMERS Sponsors Corporation {SC) Board C/0 Michael Rolland, OMERS SC Board CEO. Dear Mr. Rolland: Re: COVID-19 and Proposed Changes to OMERS Plan I am writing on behalf of the Civic Institute of Professional Personnel {CIPP) to request that, in light of the COVID-19 pandemic, the OMERS Sponsor Corporation Board…
The Ontario Municipal Employees Retirement System (OMERS) Sponsors Corporation Board of Directors will be voting on whether or not to scrap guaranteed indexing for members in favour of a proposal they call “Shared Risk,” on June 24. OMERS is a defined benefit plan for about half a million municipal workers in Ontario, including school board…
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 …
