The Settlement Agreement provides for a total payment to the “Settlement Class” in the amount of $20,000,000. The “Settlement Class” is defined in the Settlement Agreement as “all persons retiring after August 28, 1974 who were eligible to receive retirement benefits from the Ontario Government as set out in the Supplemental Health and Hospital Insurance, Dental and Life Insurance Plan in effect immediately prior to June 1, 2002 and who have not validly opted out of the Settlement Class.” This money was paid into trust on or about March 23, 2006, and as of May 31, 2006 had earned interest of $165,699.26. Class Counsel will provide an updated figure of the interest just prior to the September 7, 2006 motion for approval of the settlement.

The Settlement Agreement also provides that Class Members will be entitled to all new benefits negotiated by OPSEU and the Ministry of Government Services during collective bargaining in 2005. These new benefits include increased vision care, expanded coverage for diabetic equipment (eg. insulin pumps) and a new drug benefit card. The drug benefit card means that users will only be required to present their card and pay the applicable deductible or co-insurance when filling prescriptions, rather than incurring the expense of the prescription up-front, and receiving reimbursement at a later date. The Settlement Agreement requires that all new benefits be implemented as soon as practicable and no later than November 30, 2007.

The total Settlement Amount, including interest but less Class Counsel fees, disbursements, and taxes, notice and administration, and withholding for taxes payable, will be paid to Class Members on a per capita basis. Class Members will receive payment by either direct deposit or direct mail (however their monthly pension benefit is received), without the need for them to complete a claim form or to submit any evidence.

The full details of the settlement are included in the Settlement Agreement, which is also reproduced on this website. A full explanation of the rationale for the Settlement Agreement, from the perspective of Class Counsel, is also included in the Affidavit of Charles Wright, also found on this website under the “Evidence for Settlement” button