For those of you that are receiving a pension from the ONTARIO PENSION BOARD, in particular the retired police officer, this is just a note in the event you missed any mailings about changes to the pension.
The Governments across Canada are focused on ensuring that the public pension plans are affordable and sustainable, and have a fair cost and risk sharing. It means that during these challenging and changing times there may be some effect on the financial retirement plans however it has been made clear that any benefit changes cannot and will not, affect retired members or the pension benefits already earned by active members. The possible changes will affect those with pensions or entering into the pension plan “going forward”. In brief it means that those of us that are retired will not see a change to our pensions. But to be fair these are difficult financial time and sustaining a pension plan portfolio so that it can continue to meet the costs is difficult. Interest gains which help support the pension plans are down from years before but in pursuing your pension plan’s bulletins you will note that the average gain is being sustained over a period of time average. Things will be o.k. (?) at this time and it appears no change will affect a retired member.