Members of the New Brunswick Legislative Assembly are the latest
group of individuals to have their pensions transitioned to the
"Shared Risk Pension Plan" model in that province.
On March 26, 2014, amendments were tabled to prospectively
transition MLA pensions into the "Shared Risk Pension
Plan". These amendments are slated to come into force on July
1, 2014, although they will only impact on MLA's service after
the tentatively scheduled September 22, 2014 election.
Most public servants have already had their pensions
transitioned to the new model. According to an official news release from the Office of the Premier:
"Everyone has a role to play in pension reform and MLAs are no
different ... The legislation we introduced to make public service
pensions more affordable, fair, sustainable and secure for all
public service members has paved the way for MLAs to adopt a
shared-risk model."
