The Eight recommendations of the Sale Report

Sale report’s eight recommendations

1. All future benefits must be actuarially sound.
2. The current contribution level may not be sufficient to sustain the basic benefit.
3. The appropriate goal for COLA is 2/3 CPI, capped at 8% CPI. Indeed, this is what the PAA was designed to provide in the first place. This will largely mirror the Civil Service Superannuation Plan which currently provides for COLA of up to 2/3 of CPI, subject to available funding.
4. The current level of PAA is insufficient to provide meaningful COLAs.
5. A ten-year catch-up for the PAA in earnings is credited to the PAA.
6. Creation of a larger PAA comprised of the current PAA and a reserve account.
7. Creating a PAA in the Provincial share of the Fund.
8. Streamlining the process of amending the TRAF Act.

For detailed information click on page 8 of the Sale Report