SFU workers’ pension plan secured following years of effort

SFU workers’ pension plan secured following years of effort

CUPE 3338 members who work at Simon Fraser University, and other members of the Employees’ Joint Pension Committee (EJPC), will vote on ratification of proposed amendments to their pension plan this fall. Both the Public Sector Employers’ Council (PSEC) and the Board of Governors have approved the changes and the three employee groups at SFU (APSA, CUPE 3338 and the Poly Party) must also approve them.

Changes to the Plan will improve pensions and keep them secure so that all Plan members receive the benefit they worked so hard to earn. In 2012, proposals to change the Plan led to eight months of job action at SFU where pension was the central issue.

“You have to stick with it,” said CUPE 3338 President Fiona Brady Lenfesty. “Our members’ resolve and going through that rough round of bargaining got this result.”

Over the last 18 months the University Administration and EJPC have worked collaboratively to benefit both members and the university. Their main goals were to enhance benefits and provide a secure retirement income for all Plan members and support recruitment and retention, while continuing with a defined benefit plan and making it equitable between members. Plan amendments were reached through the spirit of good faith and cooperation between employer groups and the University’s Administration.

Over the coming months all Plan members will receive information on the Plan changes so that they are aware of the SFU Pension Plan changes and have the information on what the changes mean to them.

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