OTPP and Stella Point Capital have agreed to sell First American Payment Systems for US $960 Million to Deluxe (listed on NYSE). First American Payment Systems is a global payment technology company that provides integrated payment Solutions for 159,000 merchants in Europe and North and South America. It deals mainly with small and medium sized business’s Their company was purchased by OTPP and Stella Point Capital in 2014.
OTPP had planned to expand the Bristol Airport (the ninth busiest airport) in England. It has been rejected by the local government on environmental grounds. OTPP had planned to increase the passenger limit to 12 Million from 10 Million. Increased traffic pollution and aviation emissions and further harm to the natural environment were the concerns that formulated the rejection.
OTPP is partnering with the real estate investment firm Hines to invest in the Asia-Pacific region. Our pension plan will invest US $ 400 Million for equity in this investment. The remaining US $500 Million will be invested by Hines.
The 2012 federal budget proposed increased benefits for old aged seniors 75 years of age and older as of June 2022. The first benefit is a $500 dollar payment in August 2021. There will also be a 10% increase inn their OAS payments commencing in August 2022. This will grow in time as the plan is indexed to inflation. Always remember that the OAS has a claw back that starts when your net income exceeds $79,845 (2021 rate). The previous Conservative government, when Stephen Harper was Prime Minister wanted to change the eligibility for OAS from 65 to 67 years of age. A new Conservative federal government could do something similar in nature.