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Legal Update and Continued Support-Mise a Jour Légale et Votre Appui Continu

Created on Monday, 06 May 2019 13:08

1. January 2014, the Alward/Higgs government introduced the Shared Risk Pension Plan, thus breaking the pension contracts of 13,000 plus retirees.

 

2. June 2014, Pension Coalition NB files a Statement of Claim while representing all retirees.  This legal challenge is against the Province (our former employer).

 

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Festive Season's Greetings 2018 - Souhaits pour la Saison Estivale 2018

Created on Monday, 17 December 2018 14:27

Pensioners and Friends of the Coalition,

May we take this opportunity to wish you and yours a joyous festive season and all the best for 2019.  Our sincere hope is that our legal challenge will see the light of day in Court and‎ that we all have a successful resolution someday.  Clearly, the fact that government continues to battle us in Court and spend excessive legal funds against us, is proof positive that our case is real and not frivolous.

Pension Coalition NB

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Chers retraités et amis de la Coalition,

Permettez - nous de vous souhaiter à vous et votre famille‎, une belle saison estivale et que 2019 soit une année des plus productives.  Nous espérons que notre cas legal verra le jour en 2019 et aura une conclusion des plus positive.  Il est évident que notre cause légale est bel et bien reelle‎ étant donné le montant d' argent déboursé par le Gouvernement contre les retraités. Notre cause est loin d' etre frivole.

Pension Coalition NB

Update - Mise a Jour November 1 2018

Created on Thursday, 01 November 2018 23:52

Members have asked for an update on our legal case‎. Unfortunately, there is not much to report other than in June past, there was a hearing with Appeal Court judges.  Lawyers for retirees were seeking approval to go forward with an appeal hearing. The Coalition is still awaiting the decision of the judges from the Court of Appeal. The Coalition is watching closely the machinations of the new minority government. Our legal file is far from over. We continue to persevere.
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Des membres ont demandés une mise- a- jour de notre dossier légal. Malheureusement, il n' y a pas grand chose a reporter, autre que en Juin‎ dernier, il y a eu une audience avec les Juges de la Cour d' Appel. Les avocats pour les retraités demandaient une autorisation pour présenter à la Cour d' Appel. A ce jour, nous attendons toujours une décision des Juges de la Cour d' Appel. La Coalition suit de tres pres toutes les machinations du nouveau gouvernement minoritaire. Notre dossier est loin d' être termine. Nous persistons toujours.

Benefits Canada reports that Canadian DB pensions reach highest solvency in nearly two decades

Created on Thursday, 11 October 2018 13:15
In meetings with the plan actuary a few years ago, he stated that the simulations they ran indicated there was a 25% chance (ie 75% chance all would be fine) that the former PSSA would see a marked increase in the liability over the next 20 years. Was there really any need to curtail vested, accrued and guaranteed benefits for retired and active members of the plan? 
 
Benefits Canada - October 1, 2018
In the third quarter of 2018, Canadian defined benefit pension plans reached their highest solvency ratio of any quarter since November 2000, according to Mercer’s latest pension health index.
 
Mercer attributed the healthy funded status to a surge in long-term interest rates during the last few weeks of September, which helped decrease pension liabilities. Also, U.S. and international equities did well, while Canadian stocks remained a drag on portfolios.

Pensiongate - $5M and Counting / Le scandale des pensions – 5 millions de dollars et ce n’est pas fini

Created on Wednesday, 19 September 2018 11:26
New Brunswickers are days away from filing their electoral ballot for the next government to lead this Province.  Will it be Liberals, Conservatives or perhaps a coalition government….who knows?
 
However, one thing is clear, pension reform - as imposed by the Alward government and now led by Blaine Higgs - on the civil service and retirees in this province, is illegal, immoral and needs to be dealt with expeditiously by the justice system.  The imposition of the much touted Shared Risk Pension Plan, which really is ‘a shifted risk plan’, has led to 3 court challenges against the government and its partners, ie certain unions (Nurses Union, NBU and IBEW), NBIMC and Trustees since its inception.
 

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