SaltWire E-Edition

DELVE INTO TEACHERS’ PLAN

Once again, the pensions of Nova Scotia’s teachers are under the microscope. A special commission (the Nova Scotia Teachers’ Pension Panel) has been appointed to examine the Teachers’ Pension Plan (TPP) and determine just what is needed to save it.

Like a broken record, the call for an overhaul of the plan rears its ugly head on a regular basis. The Nova Scotia Pension Services Corporation manages four public plans for the province. The TPP is the only one that is constantly in trouble. The rest are in great shape. Furthermore, other teachers’ plans across the country are humming along just fine.

So what is it about the TPP? The plan has been chopped and diced over the years, resulting in a twotiered vehicle that is patently unfair to a sizable portion of retirees.

Much has happened to the pool of money over the years. However, one persistent accusation seems to stand out. It has been alleged by many that previous governments have fraudulently helped themselves to some of the funds, thereby damaging the underlying health of the plan. In light of this, it would be wise, irrespective of the conclusions of the report to be submitted by the Nova Scotia Teachers’ Pension Panel, for all active and retired teachers to call on the Nova Scotia Teachers Union to fund a forensic review of the plan. It is the only way to get to the bottom of these allegations of government malfeasance. Something smells here! Rene Gallant, Williamswood

OPINION

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2022-05-18T07:00:00.0000000Z

2022-05-18T07:00:00.0000000Z

https://saltwire.pressreader.com/article/281625308907530

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