November 5, 2019
GREEN PARTY TO UCP: “KEEP YOUR HANDS OFF PENSIONS”
EDMONTON – This province’s Green Party wants the UCP government to back off making fundamental changes to the way pension plans are administrated for teachers, health care professionals, police officers, and other workers in Alberta.
Green Party of Alberta Interim Leader, Will Carnegie, says the proposed changes “further illustrate the top-to-bottom method of decision making that continues to be the standard from the UCP. There appears to be no consultation and or listening capacity whatsoever when it comes to formulating public policy.”
The government announced plans to take control of the pensions of 82,000 school teachers from the Alberta Teachers’ Retirement Fund and hand them to an as yet unnamed Crown Corporation. The fund is administered jointly by employers and employees. The recent provincial budget also revealed that pensions run by the Alberta Health Services and the Workers’ Compensation Board are slated to be turned over to the Alberta Investment Management Corporation (AIMC) for “investment management.”
The Green Party of Alberta believes the moves are wholly unnecessary and unwarranted. “These pension funds are working just fine where they are now. Any move that takes away the voices of those the pensions are aimed to support is an attack on the future well-being of professionals in Alberta,” says Carnegie, who is the GPA’s Candidate of Record in the riding of Calgary-East.
The Greens want to know the intensions of the UCP government. “Are the changes going to allow the funds to be used in higher risk investments? Does this create a situation where these funds can now be easier to access for a UCP government? We have seen pensions mismanaged in the past and it is always to the detriment of those individuals who worked to fund it.” says Carnegie. The teachers’ pension fund is currently getting better returns than what the AIMC could offer, according to the Board Chair of the Alberta Teachers Retirement Fund.
The Green Party of Alberta stands with the Alberta Teachers Retirement Fund, the Alberta Teachers’ Association, and other professionals that now see their pension funds at risk. “Simply put, we want the UCP to take their hands off these pensions and issue a public apology to the pensioners. Any changes to these funds ought to be arrived at only after consultation and consensus from those directly affected,” says Carnegie.
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For more information, please contact:
Interim Leader of the Green Party of Alberta, Candidate of Record in Calgary-East