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"Members shouldn’t bear the brunt of OMERS investment decision failures": CUPE Ontario

·1-min read

The Ontario Municipal Employees Retirement System (OMERS) pension fund has announced a loss of more than $3 billion last year, says Fred Hahn, President of CUPE Ontario. "This extends a longer pattern of underperformance at OMERS," said Hahn.

The union, which is the largest member of the plan, is calling for a comprehensive review of investment decisions that "led to these unacceptable results", greater involvement of employers and unions, and full disclosure to plan members.

WHO:

Fred Hahn, President of CUPE Ontario.

WHAT:

Response to OMERS’ results.

WHEN:

February 25, 1:45 p.m. – 5:00 p.m.

WHERE:

Available via telephone, Zoom, or Skype. Contact Daniel Tseghay at 647-220-9739 to be connected.

kw/cope491

View source version on businesswire.com: https://www.businesswire.com/news/home/20210225006060/en/

Contacts

Daniel Tseghay
Communications Representative, CUPE
dtseghay@cupe.ca | 647-220-9739