Making public sector pensions more secure and affordablePension plans across North America are dealing with financial challenges. Prince Edward Island's plans are facing the same pressures.
Our current pension plan model was created over 50 years ago, when people worked longer, retired later and had a shorter life expectancy.
Today the picture looks different. We are living longer but working fewer years. The gap between how much people take out of the plans versus how much they pay in is growing.
On top of this, our plans count on healthy returns from investments. In recent years, our investments were hit by the global economic downturn.
These changing demographics, combined with uncertainty in the stock markets, have placed great strain on our pension plans. If left unchanged, they will affect future services in our province.
Over the past months, government has been looking at ways to keep our plans sustainable and reviewing options to ensure that any reforms are fair to everyone. This website details the changes, and what they mean to you.
You can phone Island Information Services Monday to Friday from 8:30 a.m. to 5:00 p.m. at 902 368 4000, or 1-800-236-5196 if you have further questions.
You can also email email@example.com with any questions.
Recent News Releases
October 18, 2013 - Government to hold information sessions for employees
October 15, 2013 - Action is required to keep public sector pension plans sustainable and affordable
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Why do our pension plans need to be updated?
Pension Sustainability Background Document [PDF file]