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Tuesday, November 19, 2013

Province Announces Union Support For Pension Changes

Most of the unions that represent the civil service are now on board with proposed changes to the public pension plan, according to a release by the provincial government.

Those changes include the controversial move to the shared risk model, which it is hoped will redress the $1 billion deficit for the public service plan. The government claims the the pension legislation will make sure retirees will never see their pensions reduced from their current level and will continue to get cost of living increases; however, the Pension Coalition of New Brunswick has protested the changes all along as unjust and potentially actionable.

Marilyn Quinn of the New Brunswick Nurses Union has said they're confident it's the best solution to provide pension security.