Big news from our union!
VP Elliott Davis writes:
This directly affects every one of the families in our association. Years ago the PC’s wanted to change our 85 factor to a 90 factor, which means everyone would have to work longer or be forced to take a drastically reduced pension to keep an 85 factor. And we know firefighters working longer and/or later in life have poorer morbidity and mortality (death and disease) rates. With that government, we fought and protested to raise awareness. Then the NDP was elected and the issues died out. The UCP has been cryptic about this issue, but alluded that they would want to pursue public sector pensions in the future. That’s why it is so important that this made it into the legislature today.
Currently, the finance minister is the sole trustee of public sector pensions. That means he or she can make changes to our pensions such as: changing our 85 factor to a 90 or 95 factor, converting our defined benefits plan to a defined contribution (which is basically an RSP matching plan). Because the finance minister has this ultimate control, historically our pensions have ended up as a political wedge. This bill will give employees and employers each a seat at the table in the management of our pensions and stop them from being a political tool.
This joint governance model has been successful in other provinces and doesn’t mean any impending change to your contribution or benefits. It just changes its administration from one person to many. This is a very important topic, so if there are any other questions please reach out. Members are encouraged to speak with there Shop Stewards or a member of the Executive Team, and SCFP Spouses are welcome to contact Vice President Elliott Davis at email@example.com