By Letter to the Editor on January 11, 2020.
On Dec. 1, a group of six retired educators met with the Lethbridge East MLA, Nathan Neudorf, to discuss three key issues.
Issue one was lack of consultation with stakeholders (teachers) who contributed 50 per cent of the money that has been managed for 80 years by the Alberta Teachers’ Retirement Fund. If the federal government took over management of money you saved in your RRSP with no consultation and at a lower rate of return, how would you feel? We have been informed that the Crown Corporation AimCo will now be managing the funds. This disrespectful move by the UPC has created a climate of mistrust.
The UCP sent information to MLAs indicating that this transfer of funds would make the management of pension funds more efficient. This is our second concern. It has been difficult to find information regarding the costs which will be incurred in this transfer of funds and who will be paying the costs. Without this information, it cannot be determined that this move will make the pension management more efficient. In addition, if this “efficiency” was such a pressing issue, why wasn’t it raised as part of the UCP platform?
Finally and perhaps most significantly, the UCP platform statement, “Democratic reforms will give more power to Albertans to hold the provincial government accountable,” is belied by moves such as this. This feels like a betrayal.
Marian Biggins, Val Bareham Wright, Barbara Gammon, Susan Milne, Karen Thomas, Doug Wright