Alta. teachers want reversal of UCP decision on pension management
An empty teacher's desk is seen at the front of a empty classroom at in 2014. THE CANADIAN PRESS/Jonathan Hayward
EDMONTON -- Alberta teachers are calling on the province to reverse a decision about how their pensions are managed.
In December, a ministerial order was signed allowing AIMCo, the Alberta Investment Management Corporation, to manage the Alberta Teachers' Retirement Fund. The order follows a year-long negotiation between the ATRF and the Crown Corporation.
The province says the "temporary measure" was put in place after the two sides failed to come to an agreement months after the deadline of Oct. 31 had passed.
The ATRF board says while they are still managing teacher's pensions, their role and responsibilities are not protected.
"There is no reason for this to be done, there was no consultation for it, ATRF is a high performing organization that responds to the needs of teachers," said Jason Schilling, president of the Alberta Teachers' Association.
The Finance Minister was not available for an interview, but a spokesperson for the ministry says they are confident the two parties will come to an agreement at which point the order will no longer be in effect.