Pension reform delayed for election, Myers charges
P.E.I. Premier Robert Ghiz knew funding for public sector pensions was in trouble five years ago, but did not act because of the coming election, says Opposition leader Steven Myers.
Myers said the premier ignored the issue in order to get reelected.
Myers is using a letter Ghiz sent to Union of Public Sector Employees president Shelley Ward as part of his argument. The letter, dated August 18, 2011, says "I can assure you I am not aware of any plans to make changes to the Public Service Pension Plan."
The Liberal government should have dealt with the pension plan funding shortfall during its first term in office, said Myers.
"The government had a large pot of money invested. They would have lost a lot of money in 2008 when the market turned down. They put it off. In 2011 again they put it off," he said.
"I believe they just put it off until after the election to deal with it at another time so it wouldn't hurt their chances of getting reelected."
The letter goes on to say there would be no changes without the support of the union.
Ghiz says even in 2011 the government hoped the markets would turn around and the shortfall would be covered.
For mobile device users:See the letter here