They’re at it again.
For the 3rd time in 4 years, OMERS is pushing a proposal to eliminate guaranteed indexing which, if passed, could allow inflation to erode the value of our pension.
The OMERS Sponsors Corporation (SC) Board of Directors is barging ahead during a pandemic with a vote to eliminate guaranteed indexing on June 24th, a plan that has already been rejected twice. This, despite tens of thousands of us already demanding that they postpone the vote until after the COVID-19 crisis.
If Worker Representatives stand united, we will defeat this harmful proposal and defend our guaranteed indexing. We know we can count on the CUPE Ontario, CUPE Local 79 and OPSEU Representatives to vote NO – but that won’t be enough.
If it passes, this proposal will eliminate an important and valuable pension benefit for OMERS members. It will mean OMERS members, particularly younger workers, will have less valuable and less secure pensions in retirement