Government bails out northern college

Yukon government to give more than $6 million over five years to cover Yukon College's pension shortfall
||Last Updated: 04/26/2006

Yukon College is getting more than $6 million from the territorial government to help with its pension shortfall.

"We are making this significant contribution to Yukon College because we want to support the important work that they do in providing Yukoners with post-secondary education opportunities," said Yukon Premier Dennis Fentie.

The Yukon government will give the college $1,251,600 per year, for the next five years, starting this month.

The announcement of the pension bail-out followed the territorial government's 2006-2007 $793-million budget, tabled at the end of March.

Opposition member and Liberal leader Arthur Mitchell initially complained that the budget, high in spending promises as the ruling Yukon Party gears up for an election, left out funds for the pension shortfalls at the college and the Yukon Hospital Corp.

After the 2006-2007 fiscal year, further instalments will be available pending annual actuarial reviews.

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