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Pension review update

Since first informing members of the Ministry of Finance’s energy sector pension review, The Society met with Jim Leech, the government-appointed reviewer. The review includes the pensions for members at ESA, Hydro One, IESO and OPG.

The Society is concerned that the pension review comes in the context of an austerity agenda that takes aim at the hard-earned compensation that members bargained with their employers. However, Society president Scott Travers reported that Mr. Leech acknowledged the fact that members’ pensions are part of their collective agreements. Though it is not a guarantee of pension safety, this acknowledgement does place members in a stronger position if and when our pensions are attacked.

The Society expects Mr. Leech’s report to be released in the near future.

For more information on how The Society has prepared to fend off attacks on members’ pensions, see the February 2014 pension update.