XML FeedsCEP union officials have a plan to wipe out AbitibiBowater's pension deficit
Nov 3, 2009 | In Labour Negotiations | 1 feedback »
CEP union officials have a plan to wipe out AbitibiBowater's pension shortfall, but the plan requires new government legislation.
Marvin Pupeza, national representative for the Communications, Energy and Paperworkers union, on Monday said he couldn’t reveal details of the joint plan, put together last week by AbitibiBowater and representatives of 23 Canadian unions at meetings in Montreal, until both the federal and provincial governments and pensioners have been briefed. He said he’s convinced it can work.
A downturn in the economy, combined with fewer and fewer active workers contributing to pension funds, saw the plans being discussed in Montreal fall to 65 per cent of their total value earlier this year.
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Plan in place (TbNewsWatch)
1 comment
One has to ask,why do I have to pay into a plan I do not want to be a part of in the first place? I would much rather of had my pension deductions from my cheque put into an RRSP of my choosing.
If my pension deductions had been going into MY RRSP account,none of this bull**it would worry me so much and if it did,I would only have myself to blame...done deal.
The culture of a "company pension plan" may have worked years ago when it was natural to work for a company until retirement,but times have changed and the "company pension plan" is a left-over from that era.
Ultimately,a person should have the choice...Be included in the companies pension plan or opt out and have his/her deductions go into a locked in form of RRSP that can travel with the person from job to job.It is done in some countries already.I think it's about time Canadians explore this possibility.
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