The Canadian Union of Public Employees is warning people not to “buy into” what the union calls government’s “risky” proposal to unlock pensions.
The House of Assembly is expected to reconvene sometime before Christmas to pass needed changes to legislation to allow some workers to access their pensions.
The measure is being taken to help free up money for those hard-hit by COVID-19.
CUPE NL says that plan could lead to even greater financial hardship and rob Newfoundlanders and Labradorians of their retirement security.
President Sherry Hillier says government should not be making public policy decisions that unfairly shift the responsibility of government onto individuals.
She understands that people are in need of cash, but pensions are in place to allow people to retire with dignity. Hillier suggests that the need be met by emergency government programs instead.
The Newfoundland and Labrador Government’s consultation process fails to properly outline many of the serious downsides to pension unlocking. #RetirementSecurity #NLpoli
.@SarahlStoodley @StJohnsTelegramRead more: https://t.co/HASmUj2KcU pic.twitter.com/S8d6uwOypY
— CUPE Newfoundland Labrador (@CupeNL) November 13, 2020
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