Richer Canada Pension Plan going ahead, amid questions of New Brunswick's struggling economy - Telegraph Journal
ADAM HURAS Telegraph Journal March 28, 2016
Beauséjour MP and House Leader Dominic LeBlanc says it’s not the federal government intention to “impose” a richer Canada Pension Plan on the provinces.
But LeBlanc believes an enhancement will soon go ahead - with the support of the provinces.
The federal government wants to enhance the CPP by the end of the year - even as questions remain as to whether New Brunswick’s struggling economy can handle any changes to how much employees and employers contribute.
Brief to Federal Finance Committee-Proposed Enhancements/Bref Ameliorations - Cttee Federal des Finances
Here is the brief that was presented recently by Bernard Dussault, former chief actuary of Canada Pension Plan and friend of the Coalition, to the federal finance committee. The Brief highlights various measures to enhance income security for seniors in Canada. We thought this may be of interest to you.
Pension Coalition NB
Vous trouverez ci- bas, un bref présenté par M. Bernard Dussault, ancien actuaire en chef du Régime Canadien de Pension (CPP), et ami de la Coalition. Ce bref a été déposé récemment auprès du Comité fedéral des Finances et suggere diverses mesures, afin d' améliorer la sécurité du revenu pour les personnes agés.
Pension Coalition NB
Public Servants living long and putting death benefit account into surplus - Ottawa Citizen
Kathryn May, Ottawa Citizen February 19, 2016
Shannon Bittman, VP of the Professional Institute of the Public Service is concerned about the surplus in the death benefit.
Canada’s public servants are living so long their death-benefits account has a $2.6-billion surplus.
That has some worried that the federal government could use the overage to offset its mounting deficit. The latest actuarial report by the Office of the Chief Actuary into the 60-year-old plan showed had a $2.6-billion surplus after setting aside $642 million in death benefits obligations for 2014. The plan has been running surpluses for years and the report estimates it will hit $4.3-billion by 2039.
The premiums and interest are not set aside but instead go into the consolidated revenue account, from which the government also pays all benefits.
That’s one reason why the Professional Institute of the Public Service of Canada, which represents professionals from federal engineers to scientists, has long argued the fund should be transferred from the consolidated revenue account into a segregated fund.
Federal Minister of Finance and Pension and NB Shared Risk/Visionez: Le defi du Ministre Federal des Finances sur les Pensions et le Régime à Risque Partagé du NB
Attached is a recent article that appeared in the Ottawa Citizen newspaper on federal pensions as well as comments on NB Shared Risk plan.
Ci- joint un article qui a paru recemment dans le Ottawa Citizen, sur les régimes de pension du federal, ainsi que commentaires sur le Regime de Pension à Risque Partage.
Public service professionals suing NB government over pension reforms - Telegraph Journal
CHRIS MORRIS Legislature Bureau January 24, 2016
The New Brunswick government is facing a second lawsuit over changes made to public sector pensions that have raised the ire of retirees and some unions.
The previous Tory government’s decision to convert existing pensions to a shared-risk model, put into effect in 2014, has been the subject of protest and litigation. Now a national public sector union is moving ahead with its lawsuit against the province.
The Professional Institute of the Public Service of Canada has filed a notice of action in the Court of Queen’s Bench in Fredericton, alleging that the New Brunswick pension reform violates section 2D of the Charter of Rights and Freedoms, specifically freedom of association.