Addressing misinformation by YEU/PSAC about the YHC Pension Plan
The Yukon Hospital Corporation (YHC) and our health system partners are dedicated to ensuring excellent compensation, benefits, and support for all employees. Recently, the Yukon Employees’ Union/PSAC has made several unfounded allegations regarding the management of the YHC Pension Plan. This has led to uncertainty among our employees.
Here are the facts:
- Every YHC employee, both union and non-union, is a member of the pension plan.
- The pension is managed according to established processes, procedures, and laws, with oversight by a pension committee that includes voting members from our two unions and support from external experts. The plan fully complies with all regulations and standards.
- The pension committee receives regular reports at each meeting and annual audited financial statements. All plan members also receive an annual pension report detailing the funding and surplus status.
- Over the past several years, a growing plan surplus has been reported. All committee members, including YEU/PSAC representatives, have had full access to this information.
- This spring, options related to the implications of the growing surplus were presented to the pension committee. While the committee considered these alternatives, a final conclusion was not reached. During this period, YEU/PSAC actions disrupted the established process, undermining the committee's fiduciary duty to the plan.
- Any planned actions to address the surplus will not affect the benefits that employees will receive upon retirement.
The transition to a health authority is unrelated to these pension issues. Our employees and union partners remain fully engaged and consulted in this process, addressing concerns such as compensation and benefits.
We encourage our employees to ask questions and learn more about the pension, which is a significant and valuable benefit of their service with Yukon Hospitals.