News

Mississauga Inquiry Update

April 15, 2011

The City of Mississauga Judicial Inquiry's evidentiary hearings and closing submissions were concluded on February 8, 2011. The Commissioner is now writing his report. When completed, the Commission’s website indicates that the Report will be transmitted to Mississauga City Council and made public. Though there is no target date for the Report’s release, it is expected that news of its release will be made available by the Commission to members of the news media.

The second and final phase of the Inquiry dealt with issues in connection with the acquisition by the City of approximately 8.5 acres of land in the city centre, of which OMERS was a part owner through its real estate division, Oxford Properties. OMERS was one of six applicants granted full standing at the judicial inquiry into governance practices in the City of Mississauga. OMERS participated as a witness to the Inquiry and will continue to protect its interests and reputation up to the release and analysis of the Report.

Throughout the testimony and closing arguments, OMERS witnesses demonstrated through their testimony OMERS continued commitment to act in the best interest of our members in everything we do. OMERS members can rest assured that all of our dealings with the City have been carried out to the highest standard, always protective of the interests of our plan members, including the 17,000 OMERS pension plan members who live and / or work in Mississauga.

Media coverage is expected to be extensive for a period of time following the release of the Report, and some may raise questions for OMERS Plan members. If you have such a question or concern about any issue or innuendo raised in the media following the release of the Report, please feel free to contact John Pierce, Vice President of OMERS Corporate Communications at 416-350-6784 or by e-mail at jpierce@omers.com. He would be pleased to provide the facts in the matter.