News

ONTC Pensioners angry and frustrated

Friday, August 31, 2012   by: Kate AdamsOntario Northland Pensioners Association
News Release

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ONTC Pensioners are angry at the way the government is treating them in their unpopular divestment process.

Despite MPP Vic Fedeli’s questions in the Legislature and letters to the Chair of the Ontario Northland Transportation Commission, the government has failed to assure their future pensions and benefits.

They have already lost their cost of living increases and face the distinct possibility of a reduction in pension and loss of the benefits their former employer has funded, along with other relatively minor privileges.

The Ontario Northland Pensioners Association (ONPA) has insisted that the pension fund was being mismanaged for years and in 2003 registered a legal claim to have the problem rectified. Now that the Finance Minister has stated the fund has been grossly mismanaged, it appears the government is not fully committed to correcting it.

Minister Bartolucci will only state that the “plan will continue to be administered and funded in accordance with the terms of the ONTC plan and all applicable laws”
Pensioners also rely on certain benefits they were promised on retirement and so far the Chair of the ONTC has been silent and Mr. Bartolucci is “continuing to examine it”

Pensioners have contributed to the pension fund throughout their careers with dollars that were meant to protect them in retirement.

The government now appears reluctant to confirm the full continuance of that protection.

This is just another negative affect of the bad decision-making that will lead to long term disastrous economic consequences for the people, businesses, and communities of North-eastern Ontario.

The ONPA is calling on the government to halt the divestiture process and repair the damage done to Ontario Northland through thoughtful reorganization, not abandon the company, its people, and its customers.

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1993cobra 9/3/2012 3:14:22 PM Report

Well i hope they have learned a valuable lesson,though it is a tough and costly lesson,but bottom line is that they WAY over bid that huge go-train contract and lost out to a Quebec contract.Inside sources have told me that if they didn't lose that contract things would've been ALOT different.So its all over but the tears.
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