{"id":17322,"date":"2019-10-28T10:30:07","date_gmt":"2019-10-28T14:30:07","guid":{"rendered":"https:\/\/www.benefitscanada.com\/news\/alberta-budget-includes-changes-to-public-pensions-expanded-biosimilars-initiative-137913"},"modified":"2019-10-28T10:30:07","modified_gmt":"2019-10-28T14:30:07","slug":"alberta-budget-includes-changes-to-public-pensions-expanded-biosimilars-initiative","status":"publish","type":"post","link":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/2019\/10\/28\/alberta-budget-includes-changes-to-public-pensions-expanded-biosimilars-initiative\/","title":{"rendered":"Alberta budget includes changes to public pensions, expanded biosimilars initiative"},"content":{"rendered":"\n
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Kelsey Rolfe<\/span> | October 28, 2019 <\/p>\n

The Alberta Teachers\u2019 Retirement Fund Board will transfer all of its funds to the Alberta Investment Management Corp., according to the province\u2019s latest budget.<\/p>\n

The ATRF board, which administers pensions for all teachers in Alberta school jurisdictions and charter schools, said in a press release it was only made aware of the change when the budget was released late on Thursday afternoon.<\/p>\n

\u201cThe ATRF board and management have a number of questions and are in the process of seeking information and answers to those questions,\u201d the board said. \u201cWhat we do know is that our commitment to plan members and employees is our utmost priority. To this end, we\u2019ll continue to provide the superior investment management and service delivery our members have come to expect from ATRF.\u201d<\/p>\n

Read: Calgary unions decry city councillor\u2019s pension review proposal<\/a><\/strong><\/p>\n

The Workers\u2019 Compensation Board and the Alberta Health Services will also be expected to transfer their funds to the AIMCo to reduce redundant administration.<\/p>\n

\u201cTo build a \u2018made in Alberta\u2019 portfolio for healthy public investment, the volume of funds invested must be big enough to support optimum earnings and minimize costs,\u201d the budget said.<\/p>\n

The government will also reduce employer contributions for the Management Employees Pension Plan, which administers the pensions of many public sector employees, including those of the Alberta Energy Regulator, Alberta Pension Services Corp., the Government of Alberta, the Local Authorities Pension Plan Corp. and the Workers\u2019 Compensation Board. The reductions are expected to save $65 million over the next four years. \u201cThis will not affect benefits but will reduce the costs for government contributions,\u201d noted the budget.<\/p>\n

In drug news, the provincial government said it plans to expand its biosimilars initiative and the maximum allowable cost pricing rules \u201cto limit drug benefit coverage to lower-cost alternatives that are clinically appropriate,\u201d though it did not clarify what actions it will take.<\/p>\n

Read:<\/strong> B.C. government says expanding biosimilars will save nearly $100 million over three years<\/b><\/a><\/p>\n

Read the full article at BenefitsCanada.com<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Kelsey Rolfe | October 28, 2019 The Alberta Teachers\u2019 Retirement Fund Board will transfer all of its funds to the Alberta Investment Management Corp., according to the province\u2019s latest budget. The ATRF board, which administers pensions for all...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[],"tags":[],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/17322"}],"collection":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/comments?post=17322"}],"version-history":[{"count":0,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/17322\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/media?parent=17322"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/categories?post=17322"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/tags?post=17322"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}