Too little pension planning too late

Discussions a few years back could have averted the current prospect of federal tampering with public servants' pension - at least those employed by the Yukon territorial government.

Discussions a few years back could have averted the current prospect of federal tampering with public servants’ pension – at least those employed by the Yukon territorial government.

After about three years of exploration and the development of the necessary language, we had the basis for “patriating” the plan in the form of the Yukon Government Employees Pension Plan.

The transfer of funds would have been sufficient to provide pensions to those who subsequently retired. Those already retired would remain within the federal plan. Perhaps more importantly, the Yukon Government Employees Pension Plan would have ensured local control with guaranteed safeguards and even some improvements.

Alas the government placed the project on the back burner when a major group of employees withdrew from the negotiations.

Looking back we can see that the opportunity missed would now be the type of protection YTG employees now seek. I was directly involved in those discussions and favoured the proposal. Both sides of the employment relationship would have benefited.

Dennis Rankin

Whitehorse