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Thursday, June 13, 2013

Pensioners Still Demanding Answers

Switching to the Shared Risk Model is an attempt by the provincial government to offload the pension deficit onto the shoulders of pensioners, according to Clifford Kennedy of the NB Pension Coalition.

Kennedy tells CHSJ News the members are considering legal action, but it's difficult where  there's no other case they can find when a guaranteed plan has been switched to the Shared Risk Model over the objections of the plan members.

Finance Minister Blaine Higgs has said despite the plan's strong returns in the past year, the changes are going to go ahead; however, Kennedy calls it "damning" that the government hasn't released to the pensioners the actual amount of the deficit.