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By Shempatolla (registered) - website | Posted August 14, 2012 at 11:02:16 in reply to Comment 79751
It would depend on what rank they retire at. Hamilton firefighters like most if not all in the province are in OMERS. I would encourage you to look to the OMERS website to answer the questions you put forward. Up until the early 2000s the OMERS fund was in surplus. Then because of a really stupid piece of legislation that limited the amount of surplus in the fund, OMERS was forced to STOP taking contributions. This situation lasted around 3 years and then of course the market tanked. Since then members have increased their contribution rates to rebuild the fund and the legislation has been changed to allow the fund to stay in surplus when it gets back there.
The question you should be asking is can we afford NOT TO HAVE full time firefighters. Whether you realize it or not, your life is affected by it. The insurance rates you pay on your home and property, your vehicle, business insurance, are all determined by the score the municipality you live in has with the insurance industry. Or to summarize not having proper fire service levels is an economy killer.
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