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Inside: SECTION 2009 Annual Highlights INSIDE > A newsletter for the pensioners of the OPSEU Pension Trust In this issue 3 Green initiative: Pens ion OPTrust joins the Carbon CONNECTION Disclosure Project 3 Did you know? OPTrust becomes a signatory to 4 OPSEU appoints new the United Nations Principles for Trustee 4 You Asked… Responsible Investment 5 Thinking of returning to work? What you n May 2010, OPTrust became a signatory the Plan’s investment portfolios. Taking need to know about Ito the United Nations Principles for steps to address these issues in our re-employment Responsible Investment (PRI). The PRI is investment operations is not just the 6 Your online resources an investor initiative in partnership with right thing to do – it’s also good business. the United Nations Environment Program Signing the PRI is consistent with and 7 Funding update: full 3% member Finance Initiative and the UN Global in support of OPTrust’s Statement of contribution increase Compact with more than 700 signatories Responsible Investing Principles (SRIP) needed worldwide and representing US $20 trillion which was adopted in March 2009. in invested assets. 8 Facts about… Your pension beneficiaries At OPTrust, we recognize that environmental, > OPTrust becomes signatory ... continued on page 2 social and governance (ESG) issues have the potential to affect the performance of SPECIAL PULLOUT Inside: SECTION 2009 Annual Highlights INSIDE Want to know how your pension plan is addressing the funding < Brian Howard , OPTrust impact of our 2008 investment Retiree, Ministry of loss? Interested in how OPTrust is Community Safety and building security for the long term? Correctional Services Looking for the latest OPTrust’s investment performance? Just turn to the special pullout section inside this newsletter to read the 2009 Annual Highlights Report for Pensioners . There you’ll find key statistics on the financial performance of the OPSEU Pension Plan and news on how we serve you and our 82,000 other members and retirees. SUMMER 2010 | Nº 53 | ISSN 1203-7729 > OPTrust becomes signatory ... continued from page 1 This gives OPTrust access to Chief Investment Officer of “This continues the strong information and resources we can OPTrust. momentum within responsible use to develop better tools for investment post crisis. OPTrust’s “This commitment is based on analyzing investment decisions participation will add greatly to the recognition that ESG issues from an ESG perspective. It also the PRI’s Canadian activities and have the potential to affect the connects us with a global network it has a lot to offer in terms of performance of OPTrust’s investment of organizations that we can share integration of ESG issues and active portfolios over the long term. ideas with, learn from, and work ownership within mainstream Taking appropriate steps to address with on specific ESG issues and pension management.” potential risks in these areas is initiatives. therefore consistent with OPTrust’s Integrating responsible investment “Signing the PRI represents an fiduciary duty to plan members, practices into the way we manage important step in OPTrust’s retirees and sponsors,” adds the fund is consistent with our continuing commitment to Eastman. fiduciary duty and reflects the best integrating environmental, social long-term interests of our more “We are delighted that OPTrust and corporate governance than 82,000 members and has signed the PRI,” states James considerations into its investment pensioners and our sponsors. Gifford, Executive Director, PRI. activities,” says Morgan Eastman, Responsible investment The UN Principles on Responsible Investment sets out six broad objectives and identifies a range of possible actions that signatories may take to incorporate ESG issues into their investment activities. The principles provide a framework for extending OPTrust’s work in this area. Plans are already in progress to: • strengthen OPTrust’s policies regarding environmental, social and governance concerns. This includes the recent adoption of a statement on responsible investment which will provide a point of reference for ongoing discussion with our external investment managers • work with our investment managers to integrate ESG factors into their investment analyses and decisions and the criteria used to evaluate their performance • review our proxy voting guidelines to ensure they address current and emerging issues, including responsible investment criteria • identify further opportunities to work together with other investors and stakeholders on ESG issues • expand our ESG program beyond our public market investments and identify opportunities to integrate ESG factors into decisions regarding OPTrust’s real estate, private equity and infrastructure portfolios. As a signatory to the PRI, OPTrust has made a modest voluntary contribution to support the work of the PRI secretariat. In return, as a signatory, we gain access to resources we can use in developing and implementing OPTrust’s ESG program, and a global network of organizations with whom we can share information and work together on corporate governance and responsible investment issues. 2 GREEN INITIATIVE: OPTrust joins the Carbon DID YOU KNOW? Disclosure Project OPTrust’s pensioner population has grown n 2010, as part of OPTrust’s continuing of our commitment to the United to 25,000 retirees since Icommitment to responsible investing Nations Principles for Responsible the OPSEU Pension and to managing the long-term financial Investing. Plan’s inception risks associated with environmental, OPTrust joins over 500 institutional 15 years ago. social and governance issues, we signed investors with a combined $64 trillion onto the Carbon Disclosure Project Stay tuned to find in assets under management who (CDP). out who our 25,000 th believe that a first step in managing retiree is in the next The CDP conducts an annual survey, investment risk related to carbon issue of Pension requesting thousands of the world’s emissions is transparency from the largest companies to disclose their companies in which we invest. Connection . greenhouse gas emissions and climate By signing onto the CDP, OPTrust change strategies on behalf of the world’s obtains exclusive access to CDP leading asset owners and investment responses through a dedicated database firms. This data provides valuable insight and reports that will assist us in to investors like OPTrust who use it our ongoing initiatives to integrate to evaluate investment risks and ESG considerations into investment opportunities related to climate change. decision making processes and in our There is a growing awareness among potential engagement activities. large investors that climate change has OPTrust will continue to keep you the potential to impact the long-term informed of other areas where we financial performance of companies and have an impact on environmental, even the efficient functioning of global social and governance issues. In the markets. Indeed, the Intergovernmental meantime, you can learn more about Panel on Climate Change (IPCC) OPTrust’s governance program on our predicts that “future climate impacts website or in the full annual report. show that the consequences could vary from disruptive to catastrophic”. By collecting and presenting the carbon emissions strategies of companies along with emissions data, the CDP provides investors with a clear understanding of how companies are positioned as we move towards a low carbon economy. Signing the CDP is consistent with OPTrust’s Statement of Responsible Investing Principles and is an example 3 OPSEU appoints new Trustee PSEU appointed Dennis Wilson to the OPTrust Board of Trustees for a Othree-year term in April 2010. During his Ontario Public Service career spanning nearly 30 years, Wilson has worked for the Ministries of Natural Resources, Northern Development and Mines, and Labour. He is currently an Industrial Health and Safety Inspector with the Ministry of Labour. Wilson’s union activities have included Steward, Local President, Executive Board Member, Ministry Employee Relations Committee (MERC) Team Member, and positions on several bargaining teams. Dennis Wilson “When I started working in the OPS, unclassified employees did not have the option to join the pension plan. OPSEU lobbied for and secured the right for unclassified staff to become plan members,” says Wilson. “I’ve always recognized the value of a strong pension, and this issue has become increasingly important to me as I approach my own retirement.” You Asked… pension by direct deposit, you can where you can sign up for direct contact OPTrust at 416-681-6100 deposit and track your claim Question: I have switched banks. or 1-800-637-0024 to update your submissions. For more information, How do I update my new account address. If you receive your pension contact Great-West Life at with OPTrust? by cheque, you must complete a 1-800-957-9777 or 416-440-0406 . Personal Information Change Request Answer: You must provide us with form. a void cheque for your new Question: I’m planning to travel financial institution or bank to Europe this fall. Is there out of account. You may also update your Question: Where can I get a country travel insurance with my banking information online by copy of the dental claim form? insured benefits coverage? registering for OPTrust’s secure Online Services . We cannot accept Answer: You can download the Answer: If you are a full-time bank account changes over the dental and medical claim forms resident in another province or telephone or by e-mail. from the OPTrust website under country, and are eligible for the “Pensioner” section or from benefits, your Great-West Life the Great-West Life website at benefits will continue. However, Question: I’ve recently moved. www.greatwestlife.com . Send re-imbursements are based on what How do I update my mailing your completed forms to: is customarily paid in Ontario. address? Within certain limits your coverage Great-West Life will top up expenses the Ontario Answer: It’s important to provide Toronto Benefit Payments Health Insurance Plan (OHIP) OPTrust with your new mailing P.O.
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