Tag: Pensions
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Canadian Blood Services Pension Plan: Union Trustee Vacancy
The following letter was sent to all Canadian Blood Services Local Presidents whose members are part of the Canadian Blood Services Pension Plan. Click here to download the letter. To: All Local Presidents and members in the Canadian Blood Services Pension Plan From: Giulia Volpe, Benefits Officer on behalf of the Pension Liaison Committee Date:…
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OMERS Vacancy: Sponsors Corporation Representative
The following letter was sent to all OPSEU/SEFPO local presidents whose members are part of the Ontario Municipal Employees Retirement System (OMERS) pension plan. Download the letter. To: All BPS Local Presidents or highest ranking officers with members in OMERS From: Giulia Volpe, Benefits Counsellor on behalf of the Pension Liaison Committee Date: August 26,…
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CAAT Pension Plan grows again
On June 1, 2021, OPSEU/SEFPO’s Local 446 members at Colleges and Institutes Canada (CICan) joined the CAAT Pension Plan’s DBplus plan. CICan employs about 100 OPSEU/SEFPO members. It advocates for public colleges across Canada and champions innovation in postsecondary education. Members have begun to convert their monthly employer RRSP contributions into CAAT’s defined-benefit pension plan,…
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The CAAT Pension Plan: yet another success story in 2020
In 2020, COVID-19 created upheaval throughout the world, including in the stock markets – and pension plans that depend on them for growth. Fortunately, when the pandemic hit, the CAAT Pension Plan was in a position of great strength. We’re pleased to say that it stayed strong throughout the year – and grew stronger. The…
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OPTrust goes from success to success
OPTrust continues to be a success story. Since it was created by OPSEU/SEFPO and the Province of Ontario in 1995, thousands of OPSEU/SEFPO-represented Ontario Public Service retirees have enjoyed the outstanding pension benefits that OPTrust has provided. But many more broader public sector (BPS), non-profit and charitable members also seek the reliable, trustworthy pensions that…
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OPSEU/SEFPO ‘very concerned’ following poor OMERS pension performance
OPSEU/SEFPO is very concerned about OMERS’s investing strategies in light of the losses the municipal sector workers’ pension plan recorded in 2020. The union very proudly represents some 15,000 municipal sector workers, many of whom are part of the OMERS pension plan. As a union sponsor, OPSEU/SEFPO has a vested interest in the plan’s success…
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HOOPP puts in another strong performance in 2020
Members belonging to the Healthcare of Ontario Pension Plan (HOOPP) will be very pleased to know that their pension plan continued to perform extremely well in 2020. When COVID-19 hit last spring, the markets went into a tailspin but rebounded fairly quickly to give HOOPP a healthy 11.42 per cent return. This compares favourably with…
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Canadian Blood Services Pension Plan: Union Trustee Vacancy
The following letter was sent to all OPSEU/SEFPO local presidents whose members are part of the Canadian Blood Services Pension Plan. Download the letter. To: All Local Presidents in Canadian Blood Services From: Giulia Volpe, Benefits Officer On behalf of the Pension Liaison Committee Date: January 25, 2021 Re: Canadian Blood Services Pension Plan – Union…
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OPSEU Pension Trust: Union Trustee Vacancies
The following letter was sent to all OPSEU/SEFPO local presidents whose members are part of the OPSEU Pension Trust (OPTrust). Download the letter. To: All Local Presidents in the OPSEU Pension Trust From: Giulia Volpe, Benefits Officer On behalf of the Pension Liaison Committee Date: January 25, 2021 Re: OPSEU Pension Trust – Union Trustee…
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HOOPP pension surpasses 400,000 members
Toronto – The Healthcare of Ontario Pension Plan (HOOPP) is proud to announce it has surpassed 400,000 members, helping to deliver retirement security across a diverse membership of healthcare workers. This includes groups who often don’t have access to affordable retirement savings plans, such as part-time workers. “HOOPP is proud to serve the healthcare community,…
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OPTrust cost of living adjustments announced
Dear Mr. Thomas and Mr. Bethlenfalvy: We are writing to advise you that the cost of living adjustment (COLA) that will be applied to pensions paid under the primary schedule of the OPSEU Pension Plan (the Plan) will be 1.0% effective January 1, 2021. The formula used to determine the adjustment is prescribed by the…
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Thomas demands fairness from OMERS
In a letter to Michael Rolland, the CEO of the pension plan OMERS, OPSEU/SEFPO President Warren (Smokey) Thomas stands up for the retirement rights of part-timers and casuals, and demands ongoing worker oversight at the pension plan. Here is the full text of the letter: October 15, 2020 Michael Rolland Chief Executive Officer, OMERS Sponsors Corporation EY…
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President Thomas’s letter to the CEO of OMERS
Warren (Smokey) Thomas, President of OPSEU, has sent the following letter to Michael Rolland, CEO of OMERS, about the OMERS board’s adoption of shared risk indexing. July 2, 2020 Mr. Michael RollandChief Executive OfficerOMERS Sponsors Corporation900-100 Adelaide Street WestToronto, Ontario M5H 0E2 Dear Mr. Rolland, We are greatly disappointed by your announcement that details of…
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A Message about OMERS from President Thomas and the Pension Liaison Committee
The Sponsors Corporation Board of OMERS has passed an amendment allowing the board to eliminate guaranteed indexing of pension credits earned after 2023. What does this amendment mean to the members of OMERS? Members of the OMERS pension plan who continue to work past January 1, 2023, will have their future service credits subject to…
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OPTrust Select reaches milestone offering retirement security for Ontarians
OPSEU President Warren (Smokey) Thomas says he is pleased to see OPTrust Select, Ontario’s newest defined benefit pension plan in a generation, has hit the 1,000-member milestone. The offspring of OPTrust – OPSEU’s existing public sector plan established in 1995 – is OPTrust Select, which expands coverage to OPSEU members in the broader public sector…
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Protect OMERS Pension: Telephone Town Hall
If you are a member of the OMERS pension plan, you’ll want to be on this call. In June 2020, the OMERS Sponsors Corporation Board will be voting on whether to take guaranteed indexing – our guaranteed cost of living raises in retirement – out of the plan. OPSEU has told OMERS in no uncertain…
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Protect your raises in retirement: Send an email to OMERS now!
In June 2020, the OMERS Sponsors Corporation Board will be voting on whether to get rid of guaranteed indexing, which threatens our raises in retirement. Read more here about why this is a really bad idea. Take action today! Write to the OMERS Sponsors Corporation (SC) Board demanding that they keep guaranteed indexing in the…
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Tell OMERS: Protect our raises in retirement!
Not again. Twice in the past three years, members of the OMERS pension plan have fought off “conditional indexing” which threatens our cost of living raises in retirement. And now, here we are again. This time they’ve given it a new name: “shared risk indexing.” But it’s pretty much the same old thing as before:…
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OPSEU urges OMERS to postpone crucial vote
On behalf of the thousands of OPSEU members who belong to the Ontario Municipal Employees Retirement System (OMERS), OPSEU President Warren (Smokey) Thomas has written to the pension plan’s leaders urging them to postpone a crucial vote on the plan’s future. “OPSEU is formally requesting you delay this vote until such a time when the…
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OPSEU fighting ‘anti-democratic’ OMERS changes
Toronto — The OMERS Sponsors Corporation Board has rushed through changes to its governance bylaws that will make it more difficult for employee representatives to have a strong voice. The board met on November 14th and pushed the amendments through, ignoring a plea from all of the employee Sponsor Organizations to be given time to…