Our pensions must be divested from for-profit long-term care

We are deeply concerned that the Public Service Pension (PSP) is the sole owner of Revera Inc. and its long-term care and nursing homes.

81% of all deaths in Canada caused by COVID-19 have been in long-term care homes.

More than 9,650 staff members in long-term care homes have been infected by COVID-19 – over 10% of all COVID-19 cases in the country. Nine people who worked in long-term care facilities have died.

Rates of COVID infection and deaths are higher in privately owned long-term care homes.

Long-term care homes have larger COVID-19 outbreaks and more resident deaths from COVID-19 than non-profit and municipal homes. We believe that privately owned long-term care homes in Canada should be moved into the public sector.

PSP Investments should not be making profits for our pensions from long-term care homes.

PSP Investments should divest itself from Revera Inc. and negotiate to transfer administration and ownership to provincial governments in each province. This policy is supported by 2/3 of Canadians according to a recent Angus Reid poll.

We made our position clear to PSP Investments in a recent letter.

Read our letter 

We are disappointed with the inadequate response from PSP Investments.

PSP Investments President and CEO, Neil Cunningham, has no plan to divest from Revera. He has no plan to move Revera to the public sector to protect seniors.

He believes for-profit, long-term care facilities are an appropriate investment for public servants’ pensions and has offered no explanation for the high COVID-19 related death rates in these homes. 

Read the PSP Investments letter

The Honourable Jean-Yves Duclos, President of the Treasury Board, has also replied to our concerns stating that PSP Investments are at arms length to the federal government and its “investment decisions are its own.”

Read the Treasury Board letter

We are committed to protecting our pensions, and investment in for-profit healthcare works against these aims. We believe that we can create a better health and safety environment for everyone in Canada. This means dramatically improving the situation in our long-term care homes for residents and for employees.

We are waiting for responses to our letters sent to the provincial health ministers in all provinces with Revera homes.

7 February 2023
On January 30, 2023 PIPSC President Jennifer Carr, accompanied by Jordan McAuley, our specialist on outsourcing, testified before the House of Common Standing Committee on Government Operations and Estimates (OGGO) about the now-infamous McKinsey contracts awarded by the federal government.

16 January 2023
Any return to office policy must “consider the nature of each department’s work and the services they provide to Canadians.” Those are Treasury Board President Mona Fortier’s own words, and we urge her to heed them, said presidents of PIPSC and CAPE in an opinion letter published in The Ottawa Citizen.

4 January 2023
The New Year is here and I want to take this opportunity to sincerely wish you all the very best in 2023. Our challenges can definitely lead to positive outcomes for our members.

3 November 2022
On October 28, 2022 President Carr met for the first time with Revenue Minister Diane Lebouthillier to discuss a number of important issues that affect our members, public services and Canadian taxpayers.

2 November 2022
On October 24, 2022 President Jennifer Carr appeared before the House of Commons Standing Committee on Government Operations and Estimates (OGGO) to discuss the nefarious effects of outsourcing on our members, public services and Canadian taxpayers.

1 November 2022
PIPSC President Jennifer Carr urges all Canadians to stand in solidarity with their fellow workers at CUPE.