The Ontario Pension Board is working closely with employers to receive updated salary information from public sector workers that may have been impacted by the decision of Ontario’s government to repeal Bill 124.
In a communication to members, the investment organization said the changes could include “additional pension contributions for any retroactive wage adjustments.”
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Plan members who are still working can see the changes reflected on the digital portal pension estimator once the retroactive changes are reported, according to the communication, which noted the OPB will directly contact retired plan members if a recalculation of their pension benefits is required.
Last month, the provincial government repealed the law after the Court of Appeal for Ontario deemed it unconstitutional for violating workers’ collective bargaining rights. The bill was criticized by labour unions for capping public sector workers’ salary increases to one per cent a year for three years.
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