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<\/p>\n
To the editor:<\/p>\n
It\u2019s a new malady identified by Premier Ford.<\/p>\n
Apparently,\u00a0MPPs had \u201cTerrible\u201ditis after 17 years of no raise.<\/p>\n
Kudos to Premier Ford, his cure for the MPPs was a 35% wage increase, and he threw in a pension plan for good measure.<\/p>\n
I was feeling a bit peckish but had no idea that I too suffered \u201cTerrible\u201ditis as it had been 17 years since my last pension increase.<\/p>\n
Today\u2019s mail from the Ontario Pension Board informed that this January\u2019s zero raise was going to make it 18 years.<\/p>\n
It\u2019s 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 Recently, he has withdrawn even more; he says talk to the Ontario Pension Board.<\/a><\/p>\n 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.<\/p>\n There is a plan to fix the billions in going concern shortfall by extra annual contributions of almost $300 million until 2033.<\/p>\n 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\u2019t talk about how they are using the investment income from our savings.<\/p>\n My rough estimate shows millions more than is necessary to pay our pensions.<\/p>\n Where are those millions going?<\/p>\n Steve Murray<\/p>\n ON Pensioner<\/p>\n White Rock, BC<\/p>\n