Executive Councillor, Pensions and Seniors Health Report: Retirement Funds are Secure
BCNU’s former Interim Executive Councillor for Pensions and Seniors Health Meghan Friesen began her report by welcoming fellow member Michelle Sordal back to the role effective May 2.
Friesen then reported on highlights from her portfolio over the last year. She began with positive news, sharing that the Municipal and Public pension plans covering the majority of BCNU members remain well-funded. “Both plans take a careful, long-term approach that avoids overreacting to short-term trends in the investment market,” she noted.
She applauded the growing number of members who have attended the union’s pension workshops over the past year, emphasizing the importance of learning about pensions and planning ahead. “Whether you are new or getting ready to receive a monthly payment,” said Friesen, “the presentations have valuable information that every member should know about.”
Friesen also described the Seniors’ Strategy Committee recommendations to BCNU Council on recruitment and retention, skill mix, safe staffing levels, psychological health and safety and violence prevention for members working in long-term care, community and home support. According to Friesen, “the aging population, the need for safe and holistic care for seniors and the concerns of nurses make the existence of this committee invaluable.”
Friesen announced the launch of the next phase of BCNU’s Not Okay campaign with a new survey of members who work in long-term care. The results will inform the development of new minimum nurse-to-patient ratios in the sector, identify bargaining priorities, and help build public awareness to improve conditions for members and their patients.
Lastly, she spoke about work underway to include LPNs in the Retiree Benefits Program (RBP) and address issues regarding the program’s future benefits designs.
Friesen concluded on a hopeful note, remarking that, “the RBP committee is looking at long-term benefits that can be paid out to members that will address intergenerational equity issues while ensuring plan stability for years to come.”