“Good pensions are not just important for retirees,” says Hahn. “Good pensions are critical for the economic health of our communities. They allow our aging population to live with dignity and continue to contribute to their local economy. That’s why these strong returns are good news, and why it’s vital that OMERS stop any consideration of removing the indexing guarantee.”
Historically, OMERS has out-performed most other public sector pension plans. The plan weathered the 2008 financial crisis better than most and is well ahead of target for coming back into balance – all while maintaining guaranteed indexing.
“CUPE’s representatives on the OMERS boards have been working to ensure the interests of plan members are at the forefront of every plan decision,” says Hahn. “We believe strongly that the discussion around removing guaranteed indexing is unnecessary and short sighted. We will continue to do everything we can to make sure it doesn’t happen.”
For more information, contact: Sarah Jordison, CUPE Communications, 416-578-5638