On November 14th the OMERS Sponsors Corporation Board will vote on a series of by-law changes that will fundamentally change the governance of OMERS, weakening the voices of workers’ and their unions. For a summary of those changes, click here. We have been informed only a simple majority vote (50%+1) is required to pass these changes.
In response, CUPE Ontario has taken action, demanding that, at the very least, the vote be deferred and full information about the proposed changes be provided. Late on Friday, in response to a letter signed by all OMERS Worker-side Sponsors, we were informed the vote has not been deferred.
We know if this vote goes ahead on November 14th and the governance changes pass, it will make it easier for OMERS to cut benefits like pension inflation protection (indexing) and early retirement. Last year, some at the OMERS SC Board failed in their attempt to reduce benefits and now seem to be trying to sneak through fundamental changes to how OMERS works so that they can cut our pensions in the future.
CUPE Ontario is asking you to take action to protect our collective representation at OMERS.
OMERS plan members and their unions deserve to be heard—it’s our pension and it’s our right to real representation. CUPE Ontario will be taking all actions necessary to protect our rights at OMERS and the plan benefits OMERS member rely on for their retirements. If the worker-side of OMERS stand united, we can defeat this attack.
Fill out your information in the form below to send OMERS a message: no backroom governance changes!