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Traduction de la lettre envoyée au Premier ministre Blaine Higgs le 12 juillet 2021 par Pension Coalition NB concernant Vestcor
Traduction de la lettre envoyée au Premier ministre Blaine Higgs le 12 juillet 2021 par Pension Coalition NB concernant Vestcor
Un récent sondage de la Banque Royale du Canada portant sur les fonds de pensions canadiens révèle que les rendements réalisés par Vestcor sont parmi les plus bas réalisés au Canada. Selon le sondage, il s'agit de la quatrième année sur cinq pour laquelle les rendements se classent dans la moitié inférieure. Comme si ceci n'était pas assez inquiétant pour les retraités et les membres actifs qui contribuent au régime de pensions, il s'agit de la deuxième année consécutive pour laquelle le retour sur les investissements se situe dans le quart inférieur de tous les fonds de pensions ayant fait l'objet du sondage.
Letter to Premier Blaine Higgs / Lettre Higgs 12 juillet 2021
July 12, 2021
The Honourable Blaine Higgs, M.L.A.
Premier of New Brunswick
Chancery Place
P. O. Box 6000
Fredericton, NB
E3B 5H1
Dear Premier,
Recently a survey by RBC of Canadian pension funds revealed that Vestcor earned some of the lowest returns in Canada. According to the survey, it is the fourth year in the last five that investment earnings posted by Vestcor have ranked in the bottom half. As if this was not enough to be of concern to retirees and active pension fund contributors, it is also the second year in a row it has generated investment returns among the bottom quarter for all pension funds surveyed. However, despite all of that, Vestcor continues to promote its investment performance.
Let's keep us all going! Your help is needed./ Persévérons jusqu'à la fin! Votre aide est indispensable
The Coalition forwarded two key articles last week that are cause for serious concern and attention. We strongly encourage you to read both articles very closely. They can be found on our website at www.pensioncoalitionnb.ca.
The first article refers to the favorable appeal decision handed down by the Province’s top court for the City of Fredericton’s police and firefighters pension challenge, which has been going on for 10 years. Their challenge is similar to ours and reinforces that now is not the time for retirees to give up. We must redouble our efforts and keep our legal challenge and our operation alive. This appeal decision gives us more ammunition that our fight is real and winnable and that the courts have no choice but to rule in our favor as well.
Earnings by N.B. civil servant pension funds among lowest in Canada in 2020 - CBC
Investment managers with Vestcor hit with pay cuts following 2nd straight year of below average results
Robert Jones · CBC News · Posted: Jun 23, 2021
xecutives with New Brunswick's pension investment firm Vestcor had their performance incentives slashed by more than 20 per cent last year after the funds they invest for public employees, retirees and others earned some of the lowest returns in Canada.
It's the second year in a row Vestcor results have ...
Earnings by N.B. civil servant pension funds among lowest in Canada in 2020 | CBC News
Fire, police unions 'thrilled' with appeal decision on pensions
- Don MacPherson | The Daily Gleaner 6/19/2021
The City of Fredericton has lost another round in its ongoing legal battles with its police and firefighter unions, with the province's top court dismissing its appeal over a tribunal's decision regarding the management of the first responders' pensions.
The city, along with the provincial superintendent of pensions, sought to overturn the decision of a tribunal of the Financial and Consumer Services that ruled the Fredericton Police Association and the Fredericton Fire Fighters Association were right in their challenge of changes to their pension plan's assets and liabilities.