OMERS still underwater….time for Plan B

Please read updates below.  2013 was a good year for the markets and good returns…how long will that last?

The key is if you have a pension it is wise to have money outside your pension as well.

Toronto (February 24, 2014) – The OMERS Primary Pension Plan concluded 2013 with a $1.3 billion reduction in unfunded liability, an improvement in its funded ratio by 3% to 88%, $4 billion in total investment income, and a stronger balance sheet and cash flows to secure its long-term obligation to pay defined pension benefits to its 440,000 plan members.

http://www.omers.com/corporate/news_article.aspx?newsid=7000

Faced with a $10-billion pension-funding deficit, one of Canada’s largest pension funds is considering a drastic proposal that would reduce benefits paid to retiring workers — or force them to work years longer for the same retirement income.

http://business.financialpost.com/2013/05/23/omers-considering-proposal-to-reduce-pension-payouts/

Brian Poncelet