Switching
to the Shared Risk Model is an attempt by the provincial government to
offload the pension deficit onto the shoulders of pensioners, according
to Clifford Kennedy of the NB Pension Coalition.
Kennedy
tells Tide News the members are considering legal action, but it's
difficult where there's no other case they can find when a guaranteed
plan has been switched to the Shared Risk Model over the objections of
the plan members.
Finance
Minister Blaine Higgs has said despite the plan's strong returns in the
past year, the changes are going to go ahead; however, Kennedy calls it
"damning" that the government hasn't released to the pensioners the
actual amount of the deficit.