TELL OMERS to Keep Guaranteed Indexing in the Plan!
OMERS is once again pushing a proposal to eliminate guaranteed indexing that has already been rejected twice in the last four years. If passed, this could mean OMERS members, particularly younger workers, will have less valuable and less secure pensions in retirement.
Despite the on-going COVID-19 pandemic, the OMERS Sponsor Corporation (SC) Board of Directors still plans to go ahead with a vote on June 24, 2020.
The OMERS plan is healthy and is well on track to reach its funded status yet some at the Sponsors Corporation who exclusively represent employer interests want to implement “Shared Risk Indexation. We cannot let that happen.
The truth is that “Shared Risk Indexation” is not necessary and will erode the Defined Benefit nature of OMERS. It will undoubtedly allow inflation to erode the value of our pension.
If unions and workers stand united, we will defeat this harmful proposal and defend our existing OMERS plan. We need to preserve the 100% guaranteed indexing provision to ensure the cost of living raises every year for retired members.
Take 30 seconds to send a letter to the OMERS SC Board demanding that they keep guaranteed indexing in the plan. All you need to do is add your name to the form below and click “Add your voice” to send the letter.