Tag: Pensions
-
Registration now open for HOOPP pension seminars
Registration is now open for OPSEU members who are enrolled in the Healthcare of Ontario Pension Plan (HOOPP) pension plan and who wish to learn more about planning for their retirement. Two seminars are being offered: post retirement, for members who have already retired; and pre-retirement, for members who plan to retire between June and…
-
OPTrust fully funded for eighth straight year: report
The pension plan for current and former OPSEU members in the Ontario Public Service, the LCBO, and other agencies is fully funded and has been so for eight years in a row. That’s the main takeaway from the 2016 Funded Status Report of OPTrust, released today. “OPTrust is fully funded,” says OPTrust President and CEO…
-
HOOPP pensions are 122 per cent funded: report
OPSEU members in the 321,000-member Healthcare of Ontario Pension Plan (HOOPP) will be pleased to know that their retirement savings are doing very well indeed. “The Fund has $1.22 on hand for every $1 we owe in pension benefits to retired and active members,” HOOPP CEO Jim Keohane said today. “We consider our true measure…
-
A pension plan that’s working
Dear friends: When it comes to providing workers with a secure and stable income in retirement, nothing works better than a defined benefit pension plan. Great pension plans like OPTrust, HOOPP, OMERS, and the CAAT Pension Plan allow tens of thousands of OPSEU members to look forward to retirement with confidence. So it’s no surprise…
-
Don’t let Kathleen Wynne replace our watchdogs with lapdogs: OPSEU President
The following opinion piece by Warren (Smokey) Thomas, President of OPSEU, was published in the Toronto Sun on February 20, 2017. Ontario’s public service workers and retirees feel like we are about to get robbed. Premier Kathleen Wynne is greedily eyeing our hard-earned pension fund and she wants to use our money to balance the…
-
Auditor General has it right on pensions: Thomas
Toronto – Ontario Auditor General Bonnie Lysyk is “100 per cent correct” when she says the provincial government has no unfettered right to count public employees’ pension funds as government assets, the President of the Ontario Public Service Employees Union says. “We agree entirely with Ms. Lysyk when she says that the money in jointly-trusteed…
-
Panel’s $435G package ‘ridiculous’: OPSEU
OPSEU President Warren (Smokey) Thomas has called on Premier Kathleen Wynne to state in writing that her government will not take money from public sector pension funds to spend elsewhere. Read the full Toronto Sun story here.
-
Thomas to Wynne: ‘Pension assets belong to pension plan members’
Toronto – Ontario Premier Kathleen Wynne would do well to remember who owns the assets of the province’s jointly trusteed public pension plans, the President of the Ontario Public Service Employees Union said today. “The current dispute between the Government of Ontario and Auditor General Bonnie Lysyk over accounting practices is not just a paper…
-
OPTrust proposes action on climate change
Pension funds must take bold steps to reduce the risk that climate change poses for the pensions of their members, the OPSEU Pension Trust (OPTrust) says. In a new position paper, Climate Change: Delivering on Disclosure, OPTrust calls on companies to disclose more and better climate-related information so investors can understand investment risks. "To truly find…
-
Joining the CAAT Pension Plan
Information for Ontario college staff working part-time or on contract Part-time employees working in Ontario Colleges can join the CAAT Pension Plan at any time while employed, and buy back any period of service worked for a CAAT employer before joining the Plan. For CAAT Pension Plan purposes, part-time employees are those who work part-time hours or full-time hours…
-
HOOPP is looking for a new union trustee
The Pension Liaison Committee invites you or someone you know to get involved with the Healthcare of Ontario Pension Plan, by applying to be a Trustee. We require your assistance in helping us to find suitable candidates for the position of Union Trustee. With the challenges facing defined benefit pension plans, we need people who…
-
HOOPP members: Check out your new website!
OPSEU members in the Healthcare of Ontario Pension Plan (HOOPP) will want to visit the new HOOPP website soon. The site offers improved navigation and is easy to access from your desktop, tablet, or smartphone. Go to hoopp.com for: an interactive, searchable list of HOOPP employers; easy-to-read information about plan performance; information about Defined Benefit…
-
New options for post-retirement benefits: an OPSEU Q&A
Questions and answers about post-retirement benefits for OPSEU members in the OPSEU Pension Trust (OPTrust) pension plan Background On November 16, 2016, OPSEU announced that it had signed an agreement with the Government of Ontario that would give OPSEU members in the OPTrust pension plan new choices with respect to their benefits after retirement. This…
-
OPTrust retiree benefits: memorandum of settlement
OPSEU has negotiated a new agreement with the Ontario government on post-retirement benefits for members of the OPTrust pension plan. Read the full settlement here.
-
OPTrust retiree benefits comparison
For a full comparison of the differences between the existing OPTrust benefit plan for retirees and the alternative plan negotiated between OPSEU and the Ontario government and announced today, click here.
-
‘We’ve just won a victory on retiree benefits’: Thomas
OPSEU President Warren (Smokey) Thomas has sent the letter below to OPSEU members in the OPTrust pension plan. Action memo To: All OPSEU members in the OPSEU Pension Trust pension plan From: Warren (Smokey) Thomas, President Date: November 16, 2016 Re: We’ve just won a victory on retiree benefits Dear friends: I have some very…
-
Retiree Benefits OPTrust MOS
Memorandum of Settlement Between: The Crown in Right of Ontario as represented by the Treasury Board Secretariat (“the Employer”) – and – Ontario Public Service Employees Union (“the Union”) WHEREAS in February 2014, the Employer announced to all Ontario Public Service employees, including employees in the bargaining units represented by OPSEU, that it would be…
-
Plan comparison chart: post-retirement benefits for members of the OPTrust pension plan
The chart below compares the post-retirement benefits available to OPTrust members under the current plan – “Plan A” – and under the alternative plan – “Plan B” – negotiated between OPSEU and the Ontario government. Drugs PRB Plan A – Legacy (Current) Plan 90% coverage Drug card Generic pricing – purchased product cost Deductible: $3.00/DIN…
-
OPSEU seeks new member rep for OMERS
The OPSEU Pension Liaison Committee invites you or someone you know to get involved with OMERS, by applying to be an OPSEU Representative on the Sponsors Corporation. OMERS is the Ontario Municipal Employees Retirement System. The appointment for the OPSEU Sponsor Representative on the OMERS Sponsors Corporation (SC) is effective January 1, 2017 until December 31,…