SAINT JOHN, N.B.- A former mayor has advice for the current Common Council on the future of the city’s pension plan.

Ivan Court believes Common Council should adopt a shared risk model for the city’s pension plan.

On Monday, the provincial Pension Task Force presented Common Council with three options to fix the city’s pension crisis, recommending the shared risk plan as the most affordable option.

In an exclusive interview with News 88.9 former Mayor Ivan Court says council should consider this good news. “We were talking about we may have to add another three million to the 23(million dollars) and it would be 26(million dollars)we thought we were going to have to make for a payment”, says Court. “The news that came down now that says the payment is going to be about 16.4(million) does give them a lot of room”.

Court says if council accepts the shared risk pension plan the city will have an additional 6 to $7-million dollars to put towards other projects.

Common Council is holding a special meeting tonight to learn more about the shared risk model before its’ crucial vote on the matter Monday night.