Public sector unions oppose proposed pooled pension law for Nova Scotia

HALIFAX – Two public sector unions won’t support a Nova Scotia government proposal to offer pooled registered pension plans, saying they are a poor substitute for beefing up the Canada Pension Plan.

Both the Nova Scotia Government and General Employees Union and the Canadian Union of Public Employees spoke out against legislation to create the plans at a legislature committee meeting on Monday.

Instead, the unions want the province to push the federal government to enhance the Canada Pension Plan as a secure means of ensuring workers save for retirement.

Liberal Terry Farrell said there is nothing in the legislation that precludes the government from pushing for additional pension changes at the federal level in addition to offering the pooled plans.

Finance Minister Diana Whalen has said the voluntary pooled plans would provide a low-cost, regulated option given that only 40 per cent of working people in the province have a pension, and less than 20 per cent contribute to a registered retirement savings plan.

Ian Johnson, a policy analyst with the government and general employees union, says he doesn’t believe pooled plans will meet the government’s goals without mandatory coverage.

Top Stories

Top Stories

Most Watched Today