The OPSEU Pension Trust has launched People for Pensions, an online campaign encouraging its plan members to become informed about defined benefit pension plans and how they support the economy.
People have shifted from having a mindset of pension envy to one where they yearn for financial security but don’t necessarily see the value of a defined benefit plan, says Hugh O’Reilly, president and chief executive officer at OPTrust. He notes the campaign is a chance for plan members to not only educate themselves about defined benefit plans but also share knowledge with colleagues, friends and family.
While most plan members value their plan, there’s still those who don’t understand the multiple benefits a defined benefit model brings and how it compares to other retirement savings vehicles, such as registered retirement savings plans and defined contribution plans, notes O’Reilly.
According to the People for Pensions website, OPTrust will communicate with members through the website, an email newsletter and social media channels, such as Facebook and Twitter. The campaign is also led by a representative from OPTrust who will make several workplace presentations across the province.
While the campaign isn’t necessarily targeted to younger employees, it’s designed to be modern and accessible, says O’Reilly. “It’s an opportunity to educated anyone who’s interested [in the issue]. Our whole organization is member-driven and they believe others should have what they have, a defined benefit plan.”