Laurie in Question Period
April 16, 2008 - Local Authorities Pension Plan
Ms Blakeman: Thank you, Mr. Speaker. On November 15 changes were made to the Local Authorities Pension Board that effectively eliminated the voice of union representatives. This presence had ensured that changes which pension holders adamantly oppose, such as the elimination of the early retirement benefit or the 85 factor, which allows for retirement when age and years of service equal 85, did not pass unchallenged. My questions are to the minister of finance. Did the government wish for the board changes to occur because it wanted to slide through amendments which would offend pensioners, hoping they wouldn’t notice?
The Speaker: The hon. Minister of Finance and Enterprise.
Ms Evans: Thank you very much, Mr. Speaker. The Local Authorities Pension Board changed its voting and quorum rules to bring them in compliance with Alberta’s Interpretation Act. There was nothing done to affect the security and stability of the plan. In fact, the LAPP assets are more than $15 billion. Retirees and current members can be sure of their LAPP plans. Like all public pension plans in that sector they’re all safe.
The Speaker: The hon. member.
Ms Blakeman: Thank you, Mr. Speaker. To the same minister: why were union representatives denied the information provided to other trustees regarding the legal advice on quorum and voting procedures?
Ms Evans: Mr. Speaker, I have seen no evidence that union members were denied that information. In fact, throughout the campaign I noted that there were many people that came forward both as union members and people who were asking questions about the plan because of the publicity surrounding that plan, and in many cases they were very satisfied with the response that they were given. There had been no compromise, and they could get information. It was very available to them.
The Speaker: The hon. member.
Ms Blakeman: Thank you. Again to the same minister: what is the minister going to do to satisfy the union and pension holders who are adamantly opposed to the changes that were forced upon their representatives?
Ms Evans: Well, Mr. Speaker, this was a case of trying to bring into alignment the correct voting procedures. There was nothing done to compromise the plan. My senior staff have advised me that there has been a request for information and for a meeting from those individuals. They haven’t identified their particular agenda at this time. They will be met with. There will be representatives from our department that will try to review exactly what their issues are and see if we can sort them out. But there’s been no evidence of issues.
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