April 29, 2019
Teachers’ Pension Plan Annual Report
The following statement is from NSTU President Paul Wozney regarding the Teachers’ Pension Plan update released today.
“We are pleased government has agreed to a joint initiative allowing for an independent pension consultant to review the plan and make suggestions to improve its long-term health. The consultant will be providing her recommendations to the Pension Board later this year.
“While there is no immediate risk to the Teacher’s Pension Fund, we are nonetheless discouraged by the small drop in funding and share the view of the Trustee Chair that steps are needed to address current challenges.
By working together with our partners on the pension board we intend to pursue significant and meaningful change to protect teachers’ hard-earned pensions in a manner that is both reasonable and sustainable for the parties involved.”