CANADA - A coalition of unions is urging Alberta Local Authorities Pension Plan (LAPP) members and pensioners to lobby their local politicians over changes to rules relating to governance of the scheme.
The group has stepped up its campaign against the changes by purchasing full-page advertisements in Alberta daily newspapers urging members and pensioners to telephone their MLAs and Premier Ed Stelmach about the concerns.
The move follows legal action started by the coalition in December to overturn the changes.
In a statement, the coalition said: "While our legal action continues, we believe this is fundamentally a political problem that can be solved quickly by the premier and cabinet."
At issue is a new employer-dominated system of governance, introduced despite union opposition at a 15 November 2007 meeting of the LAPP board.
The coalition claimed the new rules broke a long-standing agreement which required union approval for all significant changes to the policies or governance of the plan - opening the door for decisions which were against the interests of working people.
The coalition is made up of the Alberta Federation of Labour, the Alberta Colleges and Institutes Faculty Association, the Alberta Union of Provincial Employees, the Amalgamated Transit Union, the Canadian Union of Public Employees, Health Sciences Association of Alberta and United Nurses of Alberta. It represents approximately 125,000 members of the US$15bn LAPP.
Here are key takeaways from our 2019 Asset Allocation Outlook on how we are positioning asset allocation portfolios in light of our outlook for the global economy and markets.
This week's top stories included a Freedom of Information request revealing more than 100,000 savers could face six-figure tax bills as a result of GMP equalisation.
The Pearson Pension Plan has entered into a £500m pensioner buy-in with Legal & General (L&G) in the insurer's first deal of 2019.