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NB proposed "Shared Risk" actually the opposite of Dutch Model
(Note: The Coalition receives comments and concerns from retirees around the province. On occasion we may publish these on the website for others to see and share.)
Dear Clifford (Kennedy):
I do think it is important to actually understand what the "Dutch Model" is and to understand that what we are doing with "shared risk" is the exact opposite of what the Dutch are doing.
The Dutch are actually concerned about people and their ability to retire with enough money to support themselves during their golden years. They commenced long ago making preparations for this. I'm pretty sure the Dutch actually compel employers and employees to be members of a retirement plan.
The MINIMUM impact of new Shared Risk Model - Important!
(Translated version to come soon ...)
For a pensioner receiving $21,000 it will mean losing $41,286 over a 25 year retirement period. This is based on what the government is telling us on their website and using a 2% cost of living index. If inflation is higher than 2% we will lose more. And our risk is even higher if we do not receive any cost of living and/or our base pension is decreased.
Key Messages
Here are key messages and additional information for you to use when meeting or writing your MLA regarding the proposed "Shared Risk" pension model. Please pass this information on to fellow pensioners and refer them to our website.
Trust
- Trust is earned and right now pensioners have a very low level of trust with this government.
- We worked hard and served the people of New Brunswick.
- Now government is going to walk away from its long-standing commitment to us.
- We didn't have a choice. We had to join the pension plan but we didn't mind. We knew our money was going into a fund that we were told by our employer, the government, would be managed well and be there for us when we retired. Our pensions are really deferred earnings.
- The only way for government to restore our faith is to honour our present pension contract and abandon this mean-spirited attack on its former employees.
To Make a Financial Contribution ...
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PENSION COALITION NB
P O BOX 3021
FREDERICTON NB E3A 5G8
1-855-455-7892
A big THANK YOU in advance for the support.
PENSION REFORM - William G. Preston
New Brunswick’s proposed public-service pension reform strategy has been given the name “Shared Risk.” This is an absolute misnomer; “Increased Risk” is the true description of the Alward government’s proposal.
There is as much security in playing catch-up with their proposed increased annual returns as there is in my investing in a lottery ticket.