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OMERS Administrators Stonewall CUPE Request to Investigate Underperformance

Home / Blog / OMERS Administrators Stonewall CUPE Request to Investigate Underperformance

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.

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Great job @4948president and Steven Burdick of @Local4948 speaking at the mic at #CUPE2021 about the important services library workers deliver to their communities and why we should reject staffless libraries.

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Looking forward to attending this event. We need a just recovery from this pandemic in T.O. if the City truly wishes to Build Back Stronger. @torontolabour @TCBN_TO @ros_powell @27ChrisCampbell @Local4948 https://twitter.com/TCBN_TO/status/1455132434438184963

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At @torontolibrary's Merril Collection, take a deep dive into a science-fiction archive that’s out of this world