07 MAY 2013

Fredericton - At a news conference this morning, the Green Party called for the Alward government to establish a Royal Commission on Retirement Income to examine the state of retirement income in both the public and private sectors.

"The first duty of pension trustees, such as the Province, is to the beneficiaries of that trust" said Norman Laverty, the Green Party's advocate for economic and social development, and a former Superintendent of Pensions for the Government of New Brunswick. " The Province intends to violate its role as trustee by abandoning retroactively its commitments to pensioners in the public sector. It's unacceptable," said Laverty.

The Green Party wants a Royal Commission to determine if there truly is a crisis in the funding of retirement income for New Brunswickers in the public and private sectors, and to propose long-term solutions.

"Existing commitments to pensioners, whether in the private or public sector must be honoured, and we need to ensure that people in the workforce today have adequate income when they retire," said David Coon, Green Party leader. "We believe a Royal Commission of inquiry is the best way to bring clarity to the many complex issues surrounding the future of retirement income whether people are working in the public, private sector or voluntary sectors, or are self-employed" said Coon.

View Royal Commission on Retirement Income proposal.