The vote for proposed changes is being pushed forward ahead of schedule.

The vote has been deferred by almost 18 months to allow additional time for consultation with sponsors and other stakeholders, including members.

Here are the facts: 

  • The SC Board was prepared to vote on the possible introduction of a form of conditional indexing in June of 2017, but agreed to defer the vote for a full 12 months (until June 2018) at the request of some sponsors. 
  • Some sponsors were uncertain that conditional indexing was the preferred response to ensuring Plan sustainability, which was the basis for the Comprehensive Plan Review.
  • As a result, the Comprehensive Plan Review was launched in October of 2017 as part of the regular change cycle. Under standard practices, the Board vote was scheduled for June 2018.
  • The June vote was deferred until November of 2018 to address, once again, the concerns of select sponsors and allow more time for consultation with stakeholders.
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MYTH #8 - Provincial pension laws can change any time and the proposed changes could ultimately affect current retirees.
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