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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.
A deal is a deal is a deal ... or is it? Commentary - R. Blaquiere
By Richard Blaquiere, Through These Eyes 15 Apr 2013 01:40PM
(Note: This piece appeared in the Woodstock Bugle newspaper)
I’m no good with numbers and graphs and the like. If there is such a thing as numerophobia (and apparently there is), I’d be the poster boy for awareness campaigns.
Lately, however, I have been receiving emails about plans by the Alward government to tamper with my pension benefits and there is nothing better for easing the discomfort of our phobias than to confront them head-on; thus began my self-directed pension plan tutorial and, frankly, I am concerned. (Click Here for full Commentary)
Not lining up to thank Ms. Rowland
LETTERS TO THE EDITOR
Telegraph and Journal 04/01/2013, Page A06
How very strange that, according to Susan Rowland, "The vast majority of pensioners are just fine with the changes we are proposing."Really? And, "When I address groups of retirees, they come up after and thank me."(Retired pensioners fight reform,"March 23.) Really?
Do they say,"Thanks for cutting my pension. I just love that!"?
History of Trust Fund #4 (PSSA) And Trust Fund #7 (TPA)
These two Trust Funds contained in the Public Accounts of the Province are actually Pension Trust Funds. They are the Funds where both employee and employer pension contributions are made too where they are invested by the NBIMC.
Retirees and the proposed changes to the PSSA Plan
(note: translations will be posted as they become available)
To be accurate, what will be taking place is a repeal of the PSSA and the introduction of a Shared Risk Pension Plan (SRPP) covering employees and pensioners outside of New Brunswick Legislation.
Our ad hoc committee has worked to understand this (possible) transition, and have determined:
- This will, in effect, remove the Province as the guarantor and as the Governor.
- The new governor will be an arm’s length Board of Governors, a sole Governor or a non-profit corporation.
- The promised benefits will no longer have a “guarantee.”