Tuesday, May 04, 2010

Nova Scotia civil service pension lawsuit

Now the retired nova scotia civil service pensioners want to sue over changes to save their pensions from insolvency.

lol at their spokesman Bernie LaRusic who retired at age 56 in 1991. Nice work if you can get it. Greece II here in Nova Scotia!

Basically then they want to pocket the $500 million the government borrowed to stabilize their pensions, and welsh on their side of the deal. Although this "deal" was imposed on them by the government they have been dealt with fairly and generously and they should appreciate that it could have been a lot worse.

If this lawsuit proceeds then the government should renege on its side of the deal and withdraw the $500 million taxpayer rescue of the civil service pension fund. Let the chips fall where they may if the plan is underfunded, hopefully their pension cheques won't bounce on them in around 15-20 years but we offered them a fair compromise today to rescue the plan with shared sacrifice.

Unless the NDPs plan all along was that the civil service side was a straw man they knew the courts would strike down; leaving the taxpayers holding the bag for the entire pension bail out with no concessions from the union.

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