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Reports of Pension Shortfall Misleading

February 25, 2016


NEWS RELEASE


REPORTS OF PENSION SHORTFALL MISLEADING

Federal Retirees already provided assurances that any changes that could result would not affect them

Ottawa, February 25, 2016-  The latest actuarial report on the public service pension plan indicated a $4.4 billion shortfall that was widely reported in yesterday’s news.


Federal Retirees finds the number misleading and incomplete. The plan is actually in good shape when you factor in all the variables. Nonetheless, the Association is relieved Prime Minister Justin Trudeau has already committed to protecting retirement security and honouring important promises, as also reported in the media:


Prior to the election, then Liberal leader Justin Trudeau told the National Association of Federal Retirees that target benefit plans can “make sense in certain circumstances.” He assured retirees, however, that the Liberals wouldn’t change or convert pension plans retroactively, but he didn’t rule out further changes to pensions.


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