No. 66

Effective June 25, 2001

Attached is a copy of Member Update #9, which will be mailed on June 28 to all members of the Public Service Pension Plan (PSPP).

We have been advised that a number of financial planners/advisors are encouraging members to terminate PSPP membership and set up their own individual pension plan (IPP).

The Update cautions that, while there may be tax advantages to sponsoring an IPP, members who are considering this option should be aware of the potential risks that are involved in such a transaction.