OMERS Governance Review

In August 2024, the Ontario government began a process to initiate a governance review of the OMERS pension plan. OMERS participants include over 1,000 employers and over 600,000 active, deferred, and retired employees of municipalities, local agencies, public utilities, firefighters, police, paramedics, and non-teaching school board staff throughout Ontario.

Currently, OMERS operates as a Jointly Sponsored Pension Plan governed by two corporations.  Through the Sponsors Corporation (SC), employees and employers have an equal say in key aspects of the plan, including appointments to board positions, the setting of contribution rates, and any benefit changes. The Administration Corporation (AC) is responsible for managing the operations of OMERS, including investment decisions, and making pension payments to retired OMERS members. This model was established in 2006 and was maintained following a comprehensive review in 2012.

On October 4^th, 2024, OSSTF/FEESO President Karen Littlewood wrote to Paul Calandra, Minister of Municipal Affairs and Housing, about the importance of ensuring that the Special Advisor appointed to lead the OMERS Governance Review had specific qualifications and experiences, including a background in collective bargaining, and familiarity with OMERS stakeholders and labour relationships. President Littlewood also indicated that OSSTF/FEESO was ready and willing to engage with the Ministry in the search for a Special Advisor. OSSTF/FEESO still needs to receive a response to that letter. On December 3, 2024, the Ontario government announced that Robert Poirier, a former Metrolinx board member, had been appointed Special Advisor and would lead the OMERS Governance Review.

As the review progresses, OSSTF/FEESO will take every opportunity to engage directly with the Governance Review process and advocate for a thorough, objective, and transparent review.