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Former SGEU employees protest pension cut
Published Wednesday, November 2, 2011 2:49PM CST
Dozens of retired former employees of the SGEU held a protest in Regina on Wednesday after the union said they would have to take a big cut to their pensions.
The Saskatchewan Government and General Employees Union and former workers met with a mediator in February and had agreed to an initial pension decrease. But retirees now say they've been told that amount will be doubled.
The change in pension benefits is a big blow for former workers living on a fixed income. They say they're' considering further legal action, and calling for legislation that would see pensions protected in Saskatchewan.
The SGEU says lower annuity rates are to blame, and that the union has already subsidized the pension plan. However, premium rates are still much lower than it had anticipated.