In our 2018 Summer Report [1], we updated members on the status of pension negotiations. Since that update, we have finalized a non-binding Pension Reform Agreement [2] between the three campus unions (MUNFA, CUPE, NAPE) and Memorial University. This 10-page agreement outlines the guiding principles under which a jointly sponsored pension will be negotiated.
This document was transmitted to the Government of Newfoundland and Labrador on August 16, 2018. The transmittal letter [3] outlines the key provisions of the agreement. In addition, it requests feedback on necessary legislative changes required to implement a new pension plan and further guidance on eliminating unfunded liabilities.
The Government of Newfoundland and Labrador has replied [4] to indicate that they have received our requests. We await meetings with Government to continue the negotiation process.