In 2020, OMERS (Ontario Municipal Employees Retirement System), which manages the pensions of 500,000+ active and retired municipal employees, had a loss of 2.7% – approximately $3 billion). In comparison, HOOP (Healthcare of Ontario Pension Plan) returned +11.4% over the same period.
For more than a decade, OMERS has significantly underperformed comparable pension plans.
Enough is enough
“Enough is enough,” says Brandon Haynes, President of the Toronto Public Library Workers, CUPE Local 4948. “We need to fix OMERS now!”
“Our members deserve a say about how their money is managed.” Haynes continued, “We will not be dismissed.”
Toronto Star reporter, Christine Dobby, wrote an excellent article summing up the issue. Read it HERE
Help us demand transparency at OMERS; please sign CUPE Ontario’s petition.