After years of advocacy from CUPE 5430 and other unions, the Saskatchewan Healthcare Employees’ Pension Plan (SHEPP) has announced a one-time cost of living adjustment (COLA) for retirees. This is a significant victory for CUPE members who have long called for improvements to pension security and purchasing power in retirement.
For over two decades SHEPP retirees have not seen any pension increases, despite the rising cost of living. Since 2003, the value of their pensions has eroded by nearly one-third due to inflation. CUPE 5430 has been actively advocating alongside other unions for pension improvements including automatic indexation to ensure that retirees’ incomes keep pace with inflation.
While this one-time adjustment is a welcome step, CUPE 5430 continues to push for a long-term solution that guarantees pension stability for all retirees. Automatic indexation remains a key priority to ensure that healthcare workers can retire with dignity and financial security.
We recognize the hard work of union members who have raised their voices on this issue. This achievement underscores the power of collective action and the importance of continuing to advocate for fair pension policies.
For more details on the COLA announcement, visit SHEPP’s website: SHEPP COLA Announcement.