The announced Municipal Pension Plan redesign could have serious consequences for nurses. These are substantial plan changes that every nurse should understand and consider before deciding who controls their post-retirement future.
The parties agreed that any pension plan changes to implement options for the nurses must not negatively impact current MPP plan partners or MPP plan members. For any recommendations to be considered, the following principles must be met to the satisfaction of the MPP Board and MPP Plan partners and signatories:
BCNU is close to finalizing the reviewing of the results of an actuarial analysis that was done to determine the feasibility of other governance options, including a Nurses' Pension Plan or creation of a separate pool for nurses under the MPP.
The Pension Review Committee will meet to consider the findings of the actuarial analysis and explore the options noted in the provincial collective agreement:
1. The creation of an NPP (the "NPP Option"); and
2. The creation of a distinct group for nurses within the MPP (the 'MPP Option").
The committee will make a recommendation as to which option is most appropriate.
BCNU has committed to all members that the final decision would be taken to a vote, which would also include the option to remain in the MPP and leave the pension governance model unchanged.
Learn more about the consultation process that will give nurses a say over their pensions and their future.
Q&AAll the answers to your questions about the nurses' pension governance review are here.
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