Answer to the Pension Deficit
“The Regina Pension deficit of $293 Million needs to be dealt with, soon, by all parties involved, the workers, the employers and the pension recipients, “ said Jim Elliott, a mayoralty candidate speaking at the Lakeview Elementary School auditorium last night. “Everyone will need to participate in the solution, whether that’s increased pension contributions for current employees, reduced pensions for pensioners and an increased contribution from employers.”
Ward 2 candidates and mayoralty candidates were asked to speak to the residents and answer questions like how you would deal with the pension deficit.
“I would go further than simply have the parties get together and try to find the money,” Mr. Elliott continued, “I would consider moving the pension investments back home and invest in housing projects in Regina. We have a rental housing crisis, a large number of empty parking lots downtown and what better investment could you have for Regina workers to help solve a local problem.”
One possible vehicle for this would be a local venture capital corporation which would administer the funds and manage the properties over the long term. “In some cases, perhaps,” Mr. Elliott adds, “The pension partners could be funding their own retirement properties and guaranteeing a less expensive future while enjoying their retirement in our great community.”