You Talk, We Listen

cupe1975Pensions, Strike Information

April 25th, 9a.m.-noon Agriculture Building – In the hall near the Agriculture Buffeteria Come speak with your negotiating team and receive a free Tim’s coffee card.  Negotiators Jeff Theis and Ryan Klassen will be available to answer your questions.  

MYTHS ABOUT OUR PENSION PLAN (10,11,12)

cupe1975Negotiations/Bargaining, Pensions

MYTH Federal and provincial regulations limit member risk sharing and will leave the University with increased financial responsibility FACT We are not aware of any such hard limits that are not routinely waived by the federal government. Members in SK and elsewhere around the country routinely contribute directly to deficit payments without regulatory issues. Most public sector workers are in … Read More

MYTHS ABOUT OUR PENSION PLAN (9)

cupe1975Negotiations/Bargaining, Pensions

MYTH CUPE did not propose a “true” Jointly-Sponsored Pension Plan since surpluses are spent on member benefits and do not benefit the University  FACT Our proposal was a jointly-sponsored plan with a very conservative approach to surplus use, which we specifically chose to better meet the University’s stated concerns about risk. Plan surpluses can be used for different things – … Read More

MYTHS ABOUT OUR PENSION PLAN (8)

cupe1975Negotiations/Bargaining, Pensions

MYTH “The defined benefit pension that you have earned up to the point of any changes to the plan CANNOT be changed and is payable monthly for your lifetime” “Current pensioners will not be affected by any future changes” FACT These statements are currently true, but there are no guarantees that they will always be true. The Saskatchewan Pension Benefits … Read More

MYTHS ABOUT OUR PENSION PLAN (7)

cupe1975Negotiations/Bargaining, Pensions

MYTH  “The DB plan type that has been on the decline over the past number of years across the country” FACT While fewer private sector employers are offering DB pension plans, this plan type remains standard in the public sector. 91% of public sector workers who have a pension plan have a DB plan. DB plans remain standard in the … Read More

MYTHS ABOUT OUR PENSION PLAN (6)

cupe1975Negotiations/Bargaining, Pensions

MYTH The University is offering a “competitive pension plan”                                                                                                                    FACT The University has offered two different pension plans (Defined Contribution or Target Benefit) that share the same basic legal structure. In both proposed plans: 1) the University bears no risks and 2) plan members bear all of the risks. This is a complete change from your current DB plan, which … Read More

MYTHS ABOUT OUR PENSION PLAN (5)

cupe1975Negotiations/Bargaining, Pensions

MYTH “This pension plan is in a deficit and running an annual shortfall”  FACT After nine years of being in deficit, the interim 2017 valuation revealed that the plan is now back in surplus (103% funded, $12 million surplus) on the actuary’s best estimate basis. If a 5% funding buffer (or “margin”) is added to artificially inflate the plan’s liabilities, … Read More

MYTHS ABOUT OUR PENSION PLAN (4)

cupe1975Negotiations/Bargaining, Pensions

MYTH “These significant additional contributions are expected to continue into the future under the pension’s current structure” FACT This is not true. The most recent actuarial report shows that University contributions have already come down significantly, with further reductions projected for the coming years. For example, in 2017, the employer required contribution to the plan was 16.14% of payroll. In … Read More