Union pitches pension reform proposal
Representatives of the Canadian Union of Public Employees meet next Monday with P.E.I. Finance Minister Wes Sheridan to suggest an alternative to public sector pension reform in the province.
CUPE will argue an alternative proposal put forward by the unions is the better option both for the economy and for provincial government employees.
CUPE representative Bill McKinnon said the union will bring its own specialist from its pension branch in Ottawa to try to explain the merits of the unions' proposal.
"We never really did have the opportunity to have any in-depth discussion with government about our proposal versus their own with any of our pension experts at the table," said McKinnon.
"The one night that we did get the government's response in October, before everything went public, our actuary wasn't even there. So, you know, we're not giving up hope on being able to convince government that a defined benefit pension plan is not only good for employees, but it's good for the economy."
CUPE represents 950 health care workers across the province.
The government has announced a plan that would increase the amount of money the province contributes to pensions, but would also increase the age of retirement and eliminate guaranteed indexing.
Pension reform legislation is expected to be tabled during the fall sitting of the legislature.