Feb, 27, 2012 – Pensions were a topic of conversation in Montreal last week as 600 members of the Canadian Union of Public Employees (CUPE) gathered for a think-tank session on the future of their retirement plans.
And as Denis Bolduc, secretary-general of the Quebec regional office of the CUPE, wrote in the Montreal Gazette, the session was held as attacks on “over-generous” public-sector pension plans continues.
It’s important to remember, he says, that employees pay into their pension through salary deductions, and that the underfunded status of many defined benefit plans stems from the financial meltdown of 2008, and the subsequent recession which caused banks to lower interest rates, with a related impact on investments.
Pensions, he continues, should be viewed through a long-range lens, and current deficits should not be used as an excuse to slash benefits.
For more on what Bolduc has to say, click here.
• ARIA provides a forum for an informed discussion on retirement income adequacy, and other related issues, including pension and retirement coverage, and defined benefit pension plans.
