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Public Service Union Goes On Offensive

The Ontario Public Service Employees Union is going on the offensive to educate members and fight back against proposed pension changes by the Ontario Liberal government. It has launched a website, A Matter of Trust, to inform members about what the government has proposed to do to their retirement savings and provide a place for members to voice concerns and find tools to speak out. It says that cloaked in talk of making pension funds more efficient and successful, the Liberals are considering the creation of a pension superfund worth $25 billion to more than $100 billion. This move would affect thousands of members who are part of the Colleges of Applied Arts and Technology (CAAT) Pension Plan, Healthcare of Ontario Pension Plan (HOOPP), Ontario Municipal Employees Retirement System (OMERS), and OPSEU Pension Trust (OPT). While the government says that any change will not affect benefits earned to date, the union fears changes will be applied after the legislation is passed. The union claims the government wants to get rid of the joint member-employer trustee structure, appoint its own people, and spend people’s retirement savings.

Courtesy of Benefits and Pensions Monitor website News Alerts

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