AG Says Teachers’ Pension Plan Has $1.4 Billion Deficit
Provincial auditor general Michael Pickup finds the Nova Scotia Teachers’ Pension Plan has a $1.4 billion deficit in his latest report.
And Pickup says there’s no formal plan on how to deal with the deficit.
Pickup’s audit work also uncovers what he calls significant deficiencies in financial controls at the Cape Breton- Victoria Regional School Board.
The Board is now known as the Cape Breton-Victoria Regional Centre for Education after all English school boards were disbanded last spring.
Pickup also says he finds deficiencies in financial controls at the former Strait Regional School Board that covers Inverness and Richmond Counties in Cape Breton.
The IWK hospital in Halifax also makes the list.