A major federal public-sector union is warning that the Liberal government, which many public servants supported at the ballot box, may now be preparing to scale back their pension benefits.
Twenty-Five year finance guy here. I've reviewed dozens of pension plans in my career
This is much ado about nothing.
Pension pools are managed by actuaries who determine their long-term viability by reviewing the liabilities (pension obligations) against the rate of contributions and the amount of money in the pool to make recommendations.
The federal gov't makes contributions to the pool and when the pool falls short, the government has to cough up. Likewise, when the pool exceeds the need of members, the plan sponsor is entitled to peel off overcontributions.
You would think they would care about the economic ruin and job losses but then again, they are Marxists.
Twenty-Five year finance guy here. I've reviewed dozens of pension plans in my career
This is much ado about nothing.
Pension pools are managed by actuaries who determine their long-term viability by reviewing the liabilities (pension obligations) against the rate of contributions and the amount of money in the pool to make recommendations.
The federal gov't makes contributions to the pool and when the pool falls short, the government has to cough up. Likewise, when the pool exceeds the need of members, the plan sponsor is entitled to peel off overcontributions.
F em. They're the richest employees in the country.