Back To Square One With City's Pension Plan

Uncertainty continues to shroud any fix to the city's pension plan with its estimated 129 million dollar deficit. The city filed papers with the province asking for permission to delay topping up it's employee pension fund.

The province responded by identifiying additional options for the city to consider and will continue to discuss the issue according to the Mayor's office. Mayor Ivan Court will have more to say about the situation this afternoon.

The changes to the plan will be finalized and submitted for the fall session of the Legislature which would be in time for the city's budget deliberations later this year.

The city's pension plan is facing an estimated 129-million dollar deficit.