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The Provincial Government tables pension legislation

The following is a press release issued by the Provincial Government on November 19, 2013. For more information on the Shared Risk Pension Model, please click on the following link : Shared Risk Model

News Release

Finance
Union support for pension legislation
19 November 2013
 
FREDERICTON (GNB) – The provincial government announced today that it has substantial union support in tabling legislation to make the Public Service Superannuation Act (PSSA) more sustainable for plan members and more affordable for taxpayers.
 
Finance Minister Blaine Higgs has signed a Memorandum of Understanding with unions representing two-thirds of the bargaining positions in the PSSA, including several CUPE locals, in advance of pension legislation that the province will table today.

Last Updated (Tuesday, 14 January 2014 09:53)

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Province a model for pension reform: author

Times and Transcript

CHRIS MORRIS Legislature Bureau
01 Nov 2013

Jim Leech, president and CEO of the Ontario Teachers’ Pension Plan, says his hat is off to David Alward's government for pushing ahead with public sector pension reform and the shared-risk model. Photo: The Canadian Press

FREDERICTON – A new book on Canadian pension problems describes New Brunswick as ground zero in the nation’s pension contagion.

Jim Leech, president and CEO of the Ontario Teachers’ Pension Plan, said in an interview his hat is off to Premier David Alward and the Tory government for pushing ahead with public sector pension reform and the shared-risk model.

Last Updated (Monday, 18 November 2013 09:58)

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UNB profs vote for shared-risk pension plan

Times and Transcript

Education

ADAM HURAS Legislature Bureau
06 Nov 2013

FREDERICTON – University of New Brunswick professors have voted in favour of moving to a shared-risk pension plan amid warnings that future retirement benefits are in danger if changes aren’t made.

“There was a solid turnout across the four polling locations, and the vote was resoundingly in favour,” said Miriam Jones, president of the Association of University of New Brunswick Teachers, in a note to teachers.

“I know you will all join me in the fervent hope that we will not be called upon to deal with any new crises with our pension for a very long time, if ever.

Last Updated (Monday, 18 November 2013 09:58)

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Pension shift puts decades of progress at risk

Globe and Mail

RETIREMENT

Bill Hatanaka, Jim Keohane, Jim Leech and Michael Nobrega

Contributed to The Globe and Mail

Published Tuesday, Oct. 22 2013, 6:00 AM EDT

Last updated Tuesday, Oct. 22 2013, 6:00 AM EDT

We find ourselves in the midst of a timely pension reform debate: Some advocate for Canada Pension Plan enhancements; federal and provincial governments are moving toward enabling Pooled Registered Pension Plans (PRPPs) for employees who are not members of RPPs; and a number of provinces are introducing significant reforms to their public-sector plans. Missing from this debate is a full understanding of the Canadian pension system and, in particular, the value and importance of the defined benefit model within that system.

Last Updated (Monday, 18 November 2013 09:58)

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New type of pension plan for the turbulence of a tough economy

Globe and Mail

DAVID ISRAELSON

Special to The Globe and Mail

Published Tuesday, Oct. 01 2013, 4:59 AM EDT

Last updated Monday, Oct. 07 2013, 4:41 PM EDT

 

Jay Parker, executive director of the University of British Columbia’s staff pension plan. (Rafal Gerszak For The Globe and Mail)

When Jay Parker considers how the huge pension plan he manages will fare in 2014 and beyond, he has a target in mind.

“We have what is called a target benefit plan,” says Mr. Parker, who is executive director of the University of British Columbia’s staff pension plan.

Mr. Parker says that opting for this more flexible type of pension helps UBC meet challenges that most company plans will face in 2014: continued low interest rates and changing mortality patterns.

Last Updated (Monday, 18 November 2013 09:58)

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