'They lost $24 billion and they wiped out the last four years of contributions in that loss.'
Pensions and Retirement Security
Public sector workers pay 8% to 9% of their income to finance public pension plans, far more than the 3% to 5% contribution rate for other workers with pensions. - NUPGE's Larry Brown.
'Governments should underwrite the pension plans of Canadian workers because to do anything else would be unfair and economically disastrous.' - Larry Brown, NUPGE.
CPP Investment Board says long-term outlook remains stable despite setbacks caused by turmoil in international economic markets.
NSGEU critical of province for not working with union to develop best way to plan for the future.
Funds valued at $869 billion compared to $951.7 billion the previous quarter.
60 vs 65 - Applying early for CPP can mean more money in the bank - the decision is a choice between receiving your normal benefit starting at age 65 or starting earlier and receiving a smaller monthly amount