CUPE Ontario calls for review of OMERS’ investment processes after pension manager posts a 2.7-per-cent loss in 2020

COVID-19 media stories, Fix OMERS

Article by Andrew Willis, The Globe and Mail (click here to read the article on theglobeandmail.com) Pension plan OMERS turned in a 2.7-per-cent loss on its investments in 2020 as the pandemic weighed down returns from its holdings in shopping malls, a theatre chain and other consumer-facing businesses. Assets of Toronto-based OMERS declined by $3-billion…

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

Fix OMERS, Municipal, OMERS, Pensions, Retirees Network

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…