Give pensions proper protection CUPE - NB
I was particularly concerned by your editorial entitled“Don’t bend on pension”published in the Jan. 8 edition of the Telegraph-Journal where you stated:“The previous government made the wise decision to switch pension models to protect the retirement incomes of current and future retirees.”
As you are aware, the Canadian Union of Public Employees (CUPE) opposed the conversion of the Public Service Superannuation Act (PSSA) to the shared risk pension model. We believe the goal of the conversion was to shift the risk from the province to the plan members.
This was a“shifted risk”not a “shared risk”model.
The former government also acknowledged to the Auditor General that plan members, not the province, bear the risks in the new pension model.
CUPE leadership, like the retirees, wants to open a dialogue on how we can achieve a true shared risk plan. We recognize that the status quo was not an option for the PSSA plan but we continued to believe that alternative solutions that were not explored by the former government could better and more equitably address the concerns of government and plan members.
CUPE remains prepared to have a real debate and negotiation on this and we also believe the imposed changes make members’ pensions more precarious and less secure, not better protected.
President of the CUPE NB Division