There’s concern being raised by the President of the North Bay and District Labour Council about a possible decision that could take place later this month.

Henri Giroux says the OMERS Sponsors Corporation Board could be deciding to suspend guaranteed indexing of retirement pensions and that would impact members once they retire.

“If they to cancel this on December 31st, 2022 we could see a lot of people have their pensions de-indexed even though they paid into the plan for 35 years,”he says.

Giroux also doesn’t like the timing for the vote.

“Doing it during a pandemic when our essential workers are concentrating on COVID-19 and not worrying about labour matters is a wrong thing to do,” Giroux says.

He says the vote is set for June 24th and he’s calling on council members to raise opposition with their union rep or their Ontario Municipal Employees Retirement System representative.

(file photo )

Filed under: Henri Giroux, OMERS