Ontario education minister Kathleen Wynne was quoted earlier in the day that Ontario teachers might have to work a little longer to earn their pensions. Per The Star:
“There are a lot of healthy, retired teachers, and it’s the baby boom issue, you know, there are pension plans all over the world dealing with these concerns,” Kathleen Wynne told reporters before a Liberal cabinet meeting. ..“It’s one of the things that the partners at the table have to talk about.”
Later in the day - but not much - Wynne clarified that:
“I just want to be clear: our government has no intention of putting forward a position that the 85-factor should be pulled.”
(The 85 factor is a formula that combines of age and years of service to qualify for full pension.)
Wynne was probably feeling the first few wisps of the gale-force wind of teacher union indignation that was headed her way.
What does this say? Given the very tight leash with which the teachers unions control McGuinty and Co with, it's likely that the taxpayers are going to be on the hook for mega$$$ to close the $12.5 billion or so gap in the Teachers' pension fund. (Yes the one that owns all the sports teams and soon Bell Canada too!)
Wynne's rapidity in clarifying her position is clear evidence of the taxpayer pain to come.