Pensions and Benefits

It’s fascinating how having a pension can positively impact multiple aspects of a person’s well-being! HOOPP commissioned The Behavioural Insights Team (BIT) to conduct a global literature review identifying the health impacts of pensions and an industry-first online study investigating the impact of having a defined benefit (DB) pension on individuals’ financial stress and well-being...

The Healthcare of Ontario Pension Plan (HOOPP), OPTrust, and University Pension Plan (UPP) recently commissioned the Conference Board of Canada to analyze the economic impact of Defined Benefit (DB) pension plan payouts in Ontario. The results are impressive: Defined Benefit pensions not only provide Ontarians with better retirement outcomes but also benefit the entire Canadian...

Health-care workers at SickKids Hospital in Toronto are outraged by their employer’s recent announcement that it will continue its “pension holiday” rather than improve retirement benefits for its staff. Last week, SickKids announced that it will not be paying into the staff pension plan for yet another year – it has only contributed to the...

The Ontario Public Service Employees Union/Syndicat des employés de la fonction publique de l’Ontario (OPSEU/SEFPO) is seeking a retiree to represent OPSEU/SEFPO as a Trustee on the CAAT Pension Plan.  This Trustee position rotates between OPSEU/SEFPO CAAT Support, OPSEU/SEFPO CAAT Academic and Ontario College Administrative Staff Association (OCASA). The appointment currently held by CAAT Support...

Staff at SickKids Hospital in Toronto organized a demonstration today, calling on the employer to join the Healthcare of Ontario Pension Plan, HOOPP. The call comes after workers became aware that their current pension will leave them retiring in poverty because the employer failed to contribute to the plan for decades. “This hospital built its reputation...

OPTrust has published information related to Bill 124, retroactive wage increases and the impact on your pension benefit.  This communication is intended for OPSEU/SEFPO members who participate in the OPSEU Pension Plan (OPTrust). Please find a link to the communication below: OPSEU/SEFPO Retroactive Salary Awards (optrust.com)

Your pension is increasing! HOOPP is helping you get even more from your pension As one of Canada’s strongest pension plans, HOOPP is passionate about delivering on their pension promise by providing secure and reliable retirement income to members. That’s why we are pleased to share that, supported by the overall strength of the Plan,...

TORONTO, March 12, 2024 – OPTrust today released its 2023 Funded Status Report, People. Purpose. Pensions., which details the Plan’s financial results and funded status. In 2023, OPTrust remained fully funded for the 15th consecutive year and achieved a net investment return of 5.3 per cent. Over the past 10 years, the Plan’s average net investment...

This is a joint communication to members from the following six unions: the Nova Scotia Government and General Employees Union (NSGEU); the Nova Scotia Nurses Union (NSNU), the Canadian Union of Public Employees (CUPE), the Ontario Public Service Employees Union/Syndicat des employés de la fonction publique de l’Ontario (OPSEU/SEFPO), SEIU Healthcare and the Ontario Nurses...

Workers need pensions! It’s important to understand the types of pensions for organizing, bargaining, and arranging your personal financial health. This post is a quick intro to Defined Benefit and Defined Contribution pension plans from the Pension & Benefits Unit. A pension is a form of retirement plan designed to provide financial support and income...

The fight to advance workers’ rights includes pushing to expand and enforce just compensation for injured workers. On one front, some progress has been won to recognize chronic mental stress as a compensable workplace injury in Ontario in recent years. But the large number of denials for chronic mental stress claims have left workers without...

OPSEU/SEFPO members often want to know when and how they can use the grievance process to challenge unreasonable Employer edicts. Arbitrators have ruled that Employers do have the legal power to issue policies and rules unilaterally under their right to manage the workplace. But this power is not without limitations. There are circumstances in which...