CANADA - A rally planned by five Nova Scotia unions was postponed after a tentative agreement in a major pensions dispute was reached between the unions and the Nova Scotia Association of Health Organizations.
The unions involved were: the Nova Scotia Government and General Employees Union (NSGEU/NUPGE), the Canadian Union of Public Employees (CUPE), the Canadian Auto Workers (CAW), the Nova Scotia Nurses Union (NSNU) and the Service Employees International Union (SEIU).
In July, CUPE, NSNU, NSGEU and CAW had filed grievances against their employers, accusing them of using the unions’ pension fund surpluses for their own benefit.
The deal reached with the NSAHO was contingent on settlements being reached by CUPE and CAW, both currently in negotiations with employers. Both unions have strike deadlines though they agreed to hold off any industrial action until 6 November.
Details of the agreement are being withheld pending the approval of CUPE and CAW's settlements.
The top stories this week were the High Court's decision to block the £12bn annuity transfer from Prudential to Rothesay Life, and a separate court ruling that 'raises the bar' for pension rectification exercises.
Guaranteed minimum pension (GMP) equalisation has soared to the top of pension schemes' to-do lists, with 58% stating it is a priority project, research from Equiniti has revealed.
Professional Pensions is holding its defined contribution (DC) conference on 4 September.