Positive developments on pension issue

Preparations are underway for talks between the U of W administration and the university unions to resolve the university’s pension deficit issue. The way was opened for these talks on March 2, when the administration tabled a proposal that moved beyond its previous proposals to increase contributions, change early retirement, and reduce cost-of-living provisions.

All parties have agreed that the current talks will be carried out in confidence.

The administration also agreed that the process of transition to a trusteed pension plan would commence with a meeting of the parties’ legal advisors. The fundamentals contained in the most recent draft of the proposed agreement (known as Draft 19) would be maintained, although the document would have to address any changes required by…

Pension Plan Update #4

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

Fact-checking the Administration FAQ

The U of W administration has posted a FAQ regarding the pension solvency issue on its website. The campus unions have a number of concerns with the information on the website and will be addressing these issues over time. This week we want to draw attention to two statements, one having to do with the size of the pension deficit, the other having to do with the degree to which the administration has consulted with those who will be affected by its proposed changes to the pension plan.

Pension Plan Update #2

UWFA takes court action to force U of W to implement 3-year-old pension agreement

The University of Winnipeg Faculty Association (UWFA) is asking the Manitoba Court of Queen’s Bench to require the University of Winnipeg implement a 2004 agreement to establish an independent board of trustees to govern the U of W pension fund. Under that agreement, the U of W would appoint half of the trustees, while various stakeholders would appoint the other half.

UWFA filed its application with the Court of Queen’s Bench on Friday, January 26, 2006. The Association of Employees Supporting Education Services (AESES) has initiated a similar legal action. All three unions whose members are part of the pension plan are working together on this issue.

Pension Plan Update #1