The Saskatchewan government will introduce legislation next week to set automatic increase in pensions for about 8,000 former civil servants.

They will be set at 70% of the rate of inflation, says Finance Minister Andrew Thomson.

Former Crown corporation and government employees say they’ve received inconsistent ad hoc increases in their pensions under old defined benefit plans.

The move is expected to cost the province $175 million initially, with ongoing varying increases of “a few million dollars” annually.

To comment on this story email craig.sebastiano@rci.rogers.com.

Copyright © 2019 Transcontinental Media G.P. Originally published on benefitscanada.com

Join us on Twitter