The government released the report of special advisor Jim Leech on electricity sector pension plans on August 1.
Mr. Leech examined the pension plans for employees of ESA, Hydro One, IESO and OPG. The Society, as well as other stakeholders, provided input into Mr. Leech’s work, as indicated in updates to members earlier this year.
The report has a series of recommendations which Mr. Leech believes are necessary to improve the sustainability of these plans. As the government bulletin indicates, they will be reviewing the report and consulting with stakeholders, including The Society.
The Society supports the government’s view that any discussion regarding the implementation of Mr. Leech’s recommendations must be done at the bargaining table. While that will present a significant challenge during bargaining, it means that the government will not unilaterally impose pension reform on Society members.
The Society will continue to update members on pension issues as more information is available. If members have any questions or comments, they are asked to contact their local leadership.