Wednesday, November 2, 2011

Former SGEU employees protest pension cut

CTV News
November 2, 2011

Retired former employees of the Saskatchewan Government and General Employees' Union protest a pension cut in Regina on Wednesday.

Dozens of retired former employees of the SGEU held a protest in Regina on Wednesday after the union said they would have to take a big cut to their pensions.

The Saskatchewan Government and General Employees Union and former workers met with a mediator in February and had agreed to an initial pension decrease. But retirees now say they've been told that amount will be doubled.

The change in pension benefits is a big blow for former workers living on a fixed income. They say they're' considering further legal action, and calling for legislation that would see pensions protected in Saskatchewan.

The SGEU says lower annuity rates are to blame, and that the union has already subsidized the pension plan. However, premium rates are still much lower than it had anticipated.

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