Pension Plan Update #3

Should I Retire Now?

The U of W administration’s attempts to alter the cost of-living-allowance (COLA) provisions for pensioners have placed a number of U of W Faculty Association main-unit members in a difficult situation.

If the pension-plan provisions being proposed by the administration come into effect, these members would have to retire in 2007 if they wish to retain the current COLA benefit. Given there is a requirement to give six-months notice of retirement, UWFA main-unit members are faced with the prospect of having to announce their retirement very shortly if they wish to retire on August 31, 2007.

Pension Plan Update #3