Important Update on Your Pension
This is a follow up to recent information regarding your pension.
Your Executive continues to work with legal counsel to understand what changes are being considered by the Public Service Pension Plan (PSPP) partners, the BC Government Employees Union (BCGEU) and Government, and the potential impact on you and your future pensions.
Government representatives have responded to our inquiries and advised that the “Partners understand there are additional pension benefits provided to CUPE Local 873, and others, which are funded above and beyond the basic pension” ….”it is the intention of Partners to value these benefits and maintain them above and beyond the benefits available to all members.”
While this is encouraging, neither of the Plan Partners have defined what “value” means, nor whether it is their intention to retain the early retirement 80 formula for CUPE 873 members. As a result, the executive of CUPE 873 and our legal counsel continue to correspond with the Plan Partners to obtain clarity and to press our position that our early retirement benefits are sacred. We are also in the process of setting a meeting with the BCGEU in the next short while which will include our lawyer and actuaries.
The letters from CUPE 873 and our legal counsel can be viewed here.
CUPE 873 does not agree with, or support any proposed change which does not maintain our Factor 80 early retirement benefit into the future. We have no intention of accepting such a significant concession to the benefits our members have bargained, and thus bought and paid for. We will continue to vigorously oppose any reduction to the retirement benefits of our members.
It is important to note that to date no final agreement to change the plan is in place between the Plan Partners that we are aware of. Members should not make decisions on their pension or retirement based on this communication, or any speculation as to what the Plan Partners are negotiating. Wait until the full extent of the changes, if any, are known.
We will continue to update you as further information becomes available.
Provincial Executive Committee
Ambulance Paramedics and Emergency Dispatchers of BC
CUPE Local 873
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