New Brunswick legislature to resume today to change Fraser Papers pension

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FREDERICTON — Politicians in New Brunswick will return to the legislature today for a special one-day session to enact changes to pensions for retirees from the now-defunct Fraser Papers in Edmundston.

Members will vote on amendments to the Pension Benefits Act that would people who once worked at the pulp mill to immediately benefit from increased pension payouts.

The changes would also see their pension plans converted to a shared-risk model as of September.

Members of the Fraser Papers plan voted overwhelmingly in favour of the changes earlier this month.

Their decision means that payout reductions imposed in June can be immediately reversed if the amendments pass.

The legislature adjourned in May and wasn’t scheduled to sit prior to the provincial election on Sept. 22.

Organizations: Fraser Papers

Geographic location: New Brunswick

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