Monthly luncheon for retirees
The lunches will be held on a monthly basis, the first Wed. of every month
at the Legion in Ladner. Come out and meet with old friends.
Everyone Welcome
Next Lunch - Wed Dec 3/08 @ 12 noon
Gary Wood and myself attended the meeting today in Burnaby
where we hear some good news and some not so good news.
First the good news, our base pension is in good shape,
investments are down about 7% on the year but they are very
confident that the portfolio is diverse and will weather the
storm. The bad news is the portion of contributions paid into
the pension fund for our health benefit subsidy and CPI indexing
increases is insufficient at current levels on a long term projection.
At present 1% of the employees and 1% of the employers
contributions are used to provide these non-guaranteed aspects
of our pension. There is a actuarial evaluation in 2009 and at that
time there may be some decisions made regarding necessary
adjustments to the benefits. The Annual General Meeting was
video recorded and can be accessed from the B.C. Municipal
Pension website! You can also ask for information from the
Pension Corporation on this subject!
We will hopefully have an opportunity to discuss this issue
further with Local 1763.
Cheers
Gord Freeborn
Delta Firefighters Retirees Association
