UCP government members reject pro-pension legislation
On July 6, the UCP members of the Private Bills and Private Member’s Public Bills committee voted against debating Bill 203: Pension Protection Act in the legislature.
Bill 203 was a private members’ bill that would have reversed many of the harmful changes introduced in Bill 22 by the UCP last fall.
AUPE took action to advocate that Bill 203 move forward to the legislature by writing a formal letter and submission to the committee on the merits of Bill 203 and the challenges presented by Bill 22. AUPE member, Provincial Executive representative for Local 052 and AUPE Pension Committee Member, Justin Huseby, officially joined the committee meeting to stand up for AUPE members’ pensions.
By refusing to allow Bill 203 to be debated in the legislature, the UCP has shown it cares more about controlling pensions than ensuring workers can retire with dignity.
Bill 203 and Bill 22 at a glance
AIMCo currently manages two of the pension plans many AUPE members participate it: the Local Authorities Pension Plan (LAPP) and the Public Service Pension Plan (PSPP). Bill 22 means that the PSPP and LAPP must continue to work with AIMCo indefinitely, even if AIMCo underperforms.
Bill 22 also reduced the number of AUPE representatives appointed to the LAPP corporate and sponsor boards, and snatched up teachers’ pensions, putting them under AIMCo.
AUPE members are disappointed that Bill 203 was not given the chance to be debated in the legislature. It’s clear the UCP government is unwilling to do the right thing when it comes to our wellbeing before and after retirement. And by taking away our ability to hold AIMCo accountable for mismanagement of pension investments, the UCP has shown it does not want working Albertans to have a say in their own pensions.