A solution to deal with the underfunded portion of the Nova Scotia teachers pension plan is still up in the air.
The plan finished 2022 with a $1.8 billion shortfall and government officials in our province have been working with the teachers union to find a solution to top up the plan.
Finance Minister Allan MacMaster says a lot of work has been put into the matter, but not in the public discourse.
He calls it a liability for taxpayers, and adds the options both sides are considering to close the gap will not be made public until a decision is made.
According to last year’s report, the plan was paying $150 to $200 million more than it takes in each year.
MacMaster says the everyone deserves to know how the shortfall will managed, however, discussing the options publicly might create further anxiety for retirees or active teachers is not the best approach right now.
