Thanks to your effort in supporting our Alberta Pension Promise campaign, workers will be gaining more control over our pension plans! Earlier this week the NDP government moved forward on fulfilling a decades old promise to move governance of public sector pensions out of the hands of government and into the hands of the people who pay for them.
Bill 27: The Joint Governance of Public Sector Pension Plans Act would transition the Local Authorities Pension Plan, the Public Service Pension Plan and the Special Forces Pension Plan to a joint governance structure. The legislation passed its first reading on November 20, 2018 and is expected to pass through the legislative process next week.
Under joint governance, employee and employer groups would share control of plan design and responsibility for the financial health of the plan. Prior to this legislation, the government of the day had final approval on changes to the pension plans, including our rates and benefits. This new approach gives us confidence we can guarantee and protect the retirement security of hundreds of thousands of Albertans now, and into the future.
We are here because of your support. Thank you!