A22-Wednesday, May 28, 1980 - North Shore News Teachers to fight pension cutbacks British Columbia teachers will oppose a government plan to limit the indexing of their pensions. Al Blakey, president of the 30,000-member B.C. Teachers’ Federation, said his organization will press for continued full indexing of pensions (automatic quarterly increases based on rises in the cost of living). Legislation introduced in the legislature in mid-May would hmit indexing to one annual increase based not on the cost of living but on the ability of the Teachers’ Pension Plan to finance the increases. “In umes of low inflation,” Blakey said today, “our retired teachers probably would not suffer. But when inflation is higher than about 8 per cent a year, their real income under this new plan would be reduced. “Over a penod of years, if inflaujon continues at its current high levels or even higher, these retired teachers would suffer real hardship We want to make sure thal their pensions are fully protected into the future ” Blakey said the BCT had agreed some time ago to other changes in the penston act announced Wednesday including an increase in con tributions by both teachers and the government to reduce the pension plan's unfunded liability, thus making it better able to stand the burden of future pension drains. “We have known for some tume that the pension fund needed strengthening,” Blakey said. “One reason for that is that for many years, under the old WAC. Bennett regime, the govern- meant did not match teachers’ contnbutions to the fund. “The government also made it impossible for our contnbutions to earn their Maximum potential, by investing them in low interest B.C. Hydro bonds. “By our reckoning the government owes the teachers’ pension’ fund nearly $100 mulhon.” Blakey said the federation’s pensions committee will meet soon to consider what actions the teachers can take to support full indexing of their pen SIOnS He said one benefit of the new legislation is that at wall improve pensions for teachers who retired before 1971, who gained tittle trom changes brought about as a result of a one day teachers pension strike that year Heiress claims racism NEW YORK (UPI Milbonaire heiress Crhorva Vanderbilt Is suing a fashionable Cooperative apartment building saving tenants refused to let her move an because they are racist why fear she might marry tlachk puanist bBeottry Sheet Miss Vandertult OO siasde a down payment on a BLS millkon Gduplesx apartment at the Rives House in Manhattans Upper bast Side bul the sale wars reqecled by Che Compe rative s board of direc tors Loc cotastader the inayp pooval leo have been a purcty Pac int ae t Miss Vanderbilt said in her suit file Wednesday oi Manhattan She said the bora spe rulated she tigi! toarty Short aotehae hoottsan who may thereupon bree crne a resndeut of the Kives Pheoase KETTLE BARBECUES thy WEBER SOPECLAEL 10% OFF CMa SE ot dave 1 bth Oo ( thon SEABROOK, N.H.: Police drag anti-nuclear demonstrators across Route 1, Tuesday, after attempted to block the main entrance (o the Seabrook Nuclea: Power Station. (UPI wirephoto) they unsuccessfully SAVE BIG WHILE YOU CAN! Our prices are too good to last! Try and find better values than HTH kitchen cabinets at our current prices! Wed like to keep Our prices where they are but nsing Costs of Quality matenals and Craftsmanship are forcing us to ratse the prices Of Cabinets HOw I) Produc fom i vl Ht fi wt i i Se REE ET | A Lu ul ° oi But we will hold the prices down until June 30,1980 to clear present inventory! So act now Thists your last Chance to save big on your dream kitchen See your local HAT RY dealer and place your order today! fcaterars ; HTH CABINETS ANCOUVER mo sttee ‘ot Revere tue Mee Wt we a a Re de oY two he! 1