So last night I was at my Personal Financial Planning class at BCIT and it was an introductory lecture on retirement.
The instructor (from the private sector), went on and on about how the defined benefit pension plan (our current plan) is excellent. He did not have one good thing to say about a defined contribution plan… not one…. (for example you cannot buy back past service, your actual pension income at retirement is unknown…I can share my notes if you like…).
Just another instance that reinforces that our benefits, including pensions, sick leave, vacation carry over provisions (the list goes one) are so very important.
Members, we must be ready to stand up and defend our benefits!