Summary Of MROO Advocacy 2012 Protecting the Pensions and Enhancing the Quality of Life for all OMERS Pensioners

MROO’s ADVOCACY PRIORITIES OMERS governance and sustainability Retirement Income - public programs Seniors’ Independent Living – public policies and programs for home care and community support Protecting the Pensions and enhancing the Quality of Life for all OMERS Pensioners

MROO Advocacy Summary – 2012 OMERS Governance Review Province appoints Inquiry Officer MROO says – at least 1 retiree rep on each OMERS Bd – Retirees made 30% of contributions – Allow “Main Street”reps”, not just Bay Street – direct sponsor appointments to AC Board Protecting the Pensions and Enhancing the Quality of Life for all OMERS Pensioners

MROO Advocacy Summary – 2012 OMERS Admin Corp Retiree Rep 3-year term expiring MROO re-nominated current retiree rep Richard Faber, MROO Vice-President Protecting the Pensions and Enhancing the Quality of Life for all OMERS Pensioners

MROO Advocacy Summary – 2012 Ontario Budget 2012 Proposed regulation: no contribution rate increases for Jointly Sponsored Plans MROO says – we understand taxpayers’ issue – However, OMERS should be exempted – No need: OMERS already has a plan in place to deal with actuarial deficit without further contribution rate increases Protecting the Pensions and Enhancing the Quality of Life for all OMERS Pensioners

MROO Advocacy Summary – 2012 Ontario Budget 2012 Consolidate investment function for small public sector funds MROO says – No new Provincial Investment agency needed – Small funds should contract with OMERS and/or other large public pension funds Protecting the Pensions and Enhancing the Quality of Life for all OMERS Pensioners

MROO Advocacy Summary – 2012 Partial Pensions/Phased Retirement New legislation would permit partial pensions in transition to full retirement MROO says: OMERS, please investigate partial pension options, provided they create no net liability to OMERS fund Protecting the Pensions and Enhancing the Quality of Life for all OMERS Pensioners

MROO Advocacy Summary – 2012 OMERS’ ability to offer RRIF-like AVCs New legislation would permit OMERS to offer RRIF investment option for retired members after age 71 MROO says: Province, speed it up, so that OMERS can offer to invest members’ RRIFs, in addition to members’ RRSPs Protecting the Pensions and Enhancing the Quality of Life for all OMERS Pensioners

MROO Advocacy Summary – 2012 CANADA PENSION PLAN Fed/Prov discussions on adequacy, security of retirement income MROO says: - expand Canada Pension Plan - 40% career earnings up to YMPE - phased in, but accelerate for baby boom Protecting the Pensions and Enhancing the Quality of Life for all OMERS Pensioners

MROO Advocacy Summary – 2012 POOLED REGISTERED PENSION PLANS Fed Gov’t introduces PRPP concept (non-employment DC Plans) MROO says : - Ineffective if voluntary and no employer contribution - Cap their investment management costs - Let OMERS offer them - expand Canada Pension Plan at same time Protecting the Pensions and Enhancing the Quality of Life for all OMERS Pensioners

MROO Advocacy Summary – 2012 OLD AGE SECURITY Fed Gov’t moves age to 67, phased in from 2023 to 2029 MROO says : - ineffective: baby boom mostly through by then - unnecessary: costs drop after baby boompasses away - unfair: hurts those with lower-incomes and poor health Protecting the Pensions and Enhancing the Quality of Life for all OMERS Pensioners

MROO Advocacy Summary – 2012 OLD AGE SECURITY Fed Gov’t provides option to age 70 MROO says: - good idea: optional - OAS increases if taken after 65 (up to age 70) Protecting the Pensions and Enhancing the Quality of Life for all OMERS Pensioners

MROO Advocacy Summary – 2012 Steelworkers vs INDALEX at Supreme Court of Canada MROO supports - Canadian Federation of Pensioners’ intervention at Supreme Court - Defends the proposition that companies have a duty of trust to pensioners as well as to shareholders Protecting the Pensions and Enhancing the Quality of Life for all OMERS Pensioners

MROO Advocacy Summary – 2012 ONTARIO SENIORS CARE STRATEGY 2012 budget emphasis on home care, chronic care, community supports MROO says: - good idea: overdue - Ensure seniors with chronic or critical issues have a “navigator” - Better care coordination in system - Concern about funding for other parts of the system Protecting the Pensions and Enhancing the Quality of Life for all OMERS Pensioners

MROO Advocacy Summary – 2012 SENIORS DRIVERS LICENSING Some jurisdictions have conditional licenses based on medical opinion MROO says: - concern about unsafe drivers of any age - supports CanDrive research into capabilities of older drivers - Better info for doctors and MTO Protecting the Pensions and Enhancing the Quality of Life for all OMERS Pensioners