Frustration Reaches New Heights: Ontario Pensioner’s Cry for Justice
An Ontario retiree is taking a stand against Premier Doug Ford and the Ontario Pension Board, expressing his dismay upon discovering that his pension will remain stagnant for an astonishing eighteenth year.
To the Editor:
It seems we have encountered a new condition that’s been coined by Premier Ford himself. Apparently, Members of Provincial Parliament (MPPs) suffered from what they termed “Terrible”itis after enduring a prolonged period of seventeen years without a salary increase.
Hats off to Premier Ford! His remedy for the MPPs was a stunning 35% pay hike, and he even added a pension plan to sweeten the deal. Meanwhile, I recently discovered that I, too, am afflicted with “Terrible”itis, completely unaware until I received news from the Ontario Pension Board. It has been a staggering seventeen years since my last pension boost, and now, thanks to today’s mail, I’ve learned that this January will mark an unthinkable eighteen years without an increase.
It’s no surprise that Mr. Fedeli has been so unhelpful; he’s evidently been suffering from the same “ailment.” Recently, he distanced himself even further, suggesting that I should speak directly to the Ontario Pension Board (https://www.opb.ca/).
The official reason given for our long-term denial of a raise is that the Public Service Pension Plan is currently underfunded. They claim that any potential increases would only be considered once surplus funds from the PSPP become available.
Plans are in place to address the billions in shortfall through extra annual contributions totaling nearly $300 million until 2033.
Yet, I can’t help but wonder what exactly the Ontario Pension Board is doing with approximately $420 million of our hard-earned pension savings that we have entrusted to them. Strangely, the OPB hasn’t provided any information regarding how they are utilizing the investment income generated from our savings.
From my calculations, it appears there are millions more than necessary allocated for pension payments. So, where are those extra millions being directed?
Steve Murray
Ontario Pensioner
White Rock, BC
For related commentary, see: ON pensioners agree, 17 years without a raise is 'terrible' (https://www.baytoday.ca/letters-to-the-editor/letter-on-pensioners-agree-17-years-without-a-raise-is-terrible-10751669)
What do you think about the treatment of pensioners in Ontario? Do you believe the government should prioritize their financial security over other expenditures? Share your thoughts!
