POLITICS

Newfoundland premier says retirees' pensions won't be affected by review

09/19/2013 04:58 EDT | Updated 11/19/2013 05:12 EST
ST. JOHN'S, N.L. - Newfoundland and Labrador Premier Kathy Dunderdale says the pensions of retirees will not be affected by ongoing pension reform discussions with provincial unions.

Dunderdale said Thursday that people who have already retired will not see their pensions altered as a result of a review of public sector pensions.

The government is in talks with representatives of the Public Service Pension Plan and the Teachers' Pension Plan, which together have about 25,000 retirees.

Dunderdale says the current indexing program and a health plan for retirees will be maintained.

She says the government met last week with representatives from various unions, iuncluding the Newfoundland and Labrador Association of Public and Private Employees, Canadian Union of Public Employees and the Newfoundland and Labrador Nurses' Union.

The province says that as of March 31, 2012, unfunded pension and other post-retirement liabilities were about $5 billion and accounted for about 64 per cent of the province's net debt.