An Ontario retiree is calling out Premier Doug Ford and the Ontario Pension Board after learning his pension will remain frozen for an unprecedented eighteenth year
To the editor:
It’s a new malady identified by Premier Ford.
Apparently, MPPs had “Terrible”itis after 17 years of no raise.
Kudos to Premier Ford, his cure for the MPPs was a 35% wage increase, and he threw in a pension plan for good measure.
I was feeling a bit peckish but had no idea that I too suffered “Terrible”itis as it had been 17 years since my last pension increase.
Today’s mail from the Ontario Pension Board informed that this January’s zero raise was going to make it 18 years.
It’s no wonder that Mr. Fedeli has been so little help. All along, he had the same malady. Recently, he has withdrawn even more; he says talk to the Ontario Pension Board.
Officially, our raise is denied because the Public Service Pension Plan is underfunded. A raise will only be considered when there is money available from a PSPP surplus.
There is a plan to fix the billions in going concern shortfall by extra annual contributions of almost $300 million until 2033.
I do wonder what the Ontario Pension Board is doing with about $420 million of our pension savings that we have entrusted to them. The OPB won’t talk about how they are using the investment income from our savings.
My rough estimate shows millions more than is necessary to pay our pensions.
Where are those millions going?
Steve Murray
ON Pensioner
White Rock, BC
See related: ON pensioners agree, 17 years without a raise is ‘terrible’