EDMONTON, Oct. 25, 2018 /CNW/ – The announcement yesterday that Alberta public sector pension plans will be jointly managed between workers and government is great news for the health of these plans, CUPE Alberta President Marle Roberts said today.
Premier Rachel Notley announced yesterday that the Alberta government will introduce legislation in the fall to make public pension plans jointly trusteed, meaning they will be governed by a board of employee and employer representatives. Changes to the pension plan will have to be negotiated and agreed to by both sides.
Roberts said the changes mean workers will have a say over how their pensions are managed.
“In 2013, the Conservative government of the day tried to cut pension benefits to thousands of Albertans who had spent lifetimes paying into them,” said Roberts. “With this announcement, it will be much harder for any government to do that again. This is great news.”
Roberts said Alberta is one of the only provinces without jointly trusteed plans.
“Other provinces made this move long ago, and it resulted in healthier pension plans,” said Roberts. “Employees have skin in the game, so it makes sense to let us be a part of how the plans are managed. It’s in our interests for the plans to be healthy.”