Linked Header

Thursday, June 13, 2013

No Change In Province's Position On Pension Reform

Provincial Finance Minister Blaine Higgs says the Alward Government will move ahead with pension reform and the shared risk model for provincial retirees.

This, despite strong returns in the past year by pension plans for the province's public service, teachers and judges. Net assets for the plans reached an all-time high of 10.1 billion as of March 31st, up from 9.4 billion a year earlier.

Higgs says despite the good returns, 140 million in special payments had to be made to the plans and the government has to get to the point where those extra payments aren't needed.