TORONTO – CUPE Ontario is marking the end of 2023 with a shout-out to the determined CUPE members who belong to the OMERS (Ontario Municipal Employees Retirement System) pension plan: this year, these members ran a successful campaign, Cancel the Cuts, and their activism has ensured that no reductions will be made to their OMERS…
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…
While OMERS was able to report what Mr. Hutcheson called “exceptional returns,” it has not been able to quiet unions whose members are part of the OMERS plan. The unions have been criticizing OMERS’s costs and long-term financial performance, particularly after 2020. The Canadian Union of Public Employees (CUPE) Ontario, which called for an independent…
The Ontario Municipal Employees Retirement System (OMERS) released mid-year results for the first time in its history, reporting it posted an 8.8-per-cent return in the first six months of 2021, and 18.2 per cent for the 12 months ended in June. The results were insufficient to quiet a combative union that is calling for an…
The union representing more than 40 per cent of OMERS’ members did not appear placated, instead renewing calls for an independent review of OMERS, saying the mid-year results aren’t enough to draw attention away from the pension fund’s “systemic underperformance.“ “Just like a single cold day doesn’t mean temperatures aren’t rising, half a year of…
TORONTO, ON – A first-ever mid-year report by the Ontario Municipal Employees Retirement System (OMERS) can’t draw attention away from the systemic underperformance of OMERS investment returns, says the Canadian Union of Public Employees (CUPE) Ontario. “Just like a single cold day doesn’t mean temperatures aren’t rising, half a year of investment returns tells us…
The union for Ontario public sector employees has renewed calls for an outside review of the Ontario Municipal Employees Retirement System, saying the pension’s 2020 loss is part of a long-term pattern of underperformance. In response, OMERS said Wednesday that an independent review “is not warranted.” The Canadian Union of Public Employees (CUPE) Ontario said…
The Canadian Union of Public Employees is calling for an urgent “full and independent review” of their “underperforming” Ontario Municipal Employees Retirement System (OMERS) pension plan. Read the full article here.
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…
