Good afternoon,
We need to discuss an important issue regarding your pension.
You may not realize it, but your pension plan, the Public Service Superannuation Plan(PSSP), is integrated with the Canada Pension Plan (CPP). This happened back in 1966 before plan members had a say about what happened to their plan (not all pension plans are integrated, but the vast majority of them are).
In 2019, the federal government passed legislation that allows for the enhancement of CPP. This means that people can contribute more to the CPP and consequently receive more of a benefit in retirement. Unions and others had lobbied for this change for decades.
The Board of Trustees for the PSSP have a fiduciary responsibility to represent your interests as plan members. The NSGEU is sounding the alarm on a proposal put forward by the Board, which would result in reductions made to your PSSP in order to offset the CPP enhancement.
Basically, the provincial government wants to save money by skipping their additional contribution to your PSSP, which would mean when you go to retire, you would not maximize these enhanced retirement benefits.
Please support your union trustees and sign the letter below to send a message to the Premier, CEO, Chair, and Board of the PSSP.
Tell them you want them to leave the PSSP alone.
