In this episode of OPSEU/SEFPO Talk, President Warren (Smokey) Thomas speaks with OPTrust President and CEO Peter Lindley about the success of OPTrust and the importance of defined benefit pension plans.

Episode transcript

Skip to: 01:26 “You’re a veteran of the financial services industry. What drew you into working for a pension plan and can you explain that to folks and tell us about yourself.”

Skip to: 4:00 “What do you think is the biggest advantage Defined Benefit plans provide for their members and why should young people and fix term workers care about this?”

Skip to: 07:07 “We’ve been ravaged and savaged by COVID-19 and it really has caused some market instability, particularly back in (last) March and April, but for anyone listening, despite all that, the OPSEU Pension Trust has done well, in fact we are now ranked one of the top three pension plans in the world for member services. What would be the recipe for that success? ”

Skip to: 09:00 “You mentioned the OP-T’s funded status report that was released earlier this month. Can you explain a little bit what that means?”

Skip to: 11:17 “The breadth of the work that members in the OPSEU Pension Trust do, I always explain it this way: They register your birth and register your death and look after society all the way through your life so you’re absolutely right about that. How about a little bit about what the structure is?”

Skip to: 12:21 “Recently, it took a while to get there, but we’ve launched OP Trust Select, so can you explain for people outside the OPS, can you explain how it works?”

Skip to: 18:10 “I think on the government side what I’ve seen in the last few years, they’ve embraced diversity as well. I’ve sat in on sponsors meetings, so the shareholders, one share for OPSEU, I represent that, on the government side, and it’s the finance minister, kind of a mix between finance and Treasury Board. Anything else you wanted to add Peter?”

Skip to: 21:00 “I want to thank you for coming in. I think it’s really important for our members who are going to benefit from this pension plan to hear firsthand and to support Defined Benefit pension plans. The benefits you get will last you a whole life on the benefit side, which is different than some plans.”

Leave a Reply