Re: Pensions vs. Mortgages

[George Kirczenow <kirczeno@sfu.ca>]

Maybe I have missed something, but it looks to me like
for those like me that are part way into a phased retirement
the implications of the SFUFA switching to DB are not
clear. We are getting reduced salaries but SFU is supposed
to be contributing to our DC pension based on our nominal (not reduced) 
salaries. So does the DB plan deduct from our salary an amount
based on our reduced salary or on our nominal salary? Is the
pension that is to be paid out based on our reduced or nominal
salary? How does all this affect the cost of buying into the DB
plan and the pension that this would generate? Has any of this 
been spelled out somewhere or is it still undecided?
Cheers,
George