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Letter to The Editor - to Premier David Alward and several MLAs.

I am writing to express my dissatisfaction with your government’s proposed changes to the teacher’s pension plan, which I paid into for 33 years with the expectation that my employer, the government, would honour the terms and conditions set out in that plan.

Ninety per cent of the teacher’s pension plan is supported by a fund paid for by teachers. This fund, managed by NBIC, has had a rate of return of 4.56 per cent over the past several years, despite a very tough economy. Actuarial projections indicate a four per cent return on investment would ensure the sustainability of the fund. Why should teachers relinquish control of a well-managed fund to the ‘tender mercies’ of the provincial government.

My retirement planning was based on the plan as it exists today. To reduce my benefits now would place a real hardship on me and my family. I ask you to honour the commitment made to teachers, and yes, to honour the services teachers have made to the province.

Beth MacDonald,