Notes from the CUPW Lower Mainland Retirees Organization August 27 2016
- CUPW bargaining and strike action: The situation is changing rapidly and in order to keep up with the information I suggest people go to the CUPW National website http://www.cupw.ca/en. If there are picket lines, all retirees are encouraged to show your support. Please come to the picket lines, honk if you pass the line in a car, bring food etc to the lines, and join in rallies and other events. Talk to your friends and neighbours about the issues.
- Canada Post Pension Plan and bargaining. What has not changed is Canada Post’s desire to put new hires into a defined contribution pension plan, instead of the Defined Benefit Pension plan, that we all have. Canada Post Human Resources Manager has testified (in the CPAA final arbitration selection hearings) that putting new hires into a Defined Contribution Pension plan will have absolutely no effect on the current solvency deficit of our Canada Post Pension Plan. (A solvency deficit is essentially a paper evaluation that looks at how much money it would cost the pension plan to wind up and purchase annuities for all current and retired workers). Instead the Canada Post Human Resource Manager said that the reason to put new hires into a Defined Contribution Pension Plan is because of the “volatility” of our Canada Post Defined Benefit Pension Plan. However, this misses the point. that in 2015 the going concern surplus of our Defined Benefit Pension Plan increased to $1.2 Billion from $500 million. That is a very significant increase.
- CUPW National Retirees Organization: Many of you will have received a letter from the CUPW National Retirees Organization asking you to join. Please do. A CUPW National Retirees Organization will amplify the voices of retirees and will link CUPW retirees from coast to coast to coast. It costs $24.00 a year to join. This money will be used for mailings and other activities. Send in your contact forms to:
377 Bank Street
- Defined Benefit Pension Plans are better: A reliance on defined contribution retirement schemes to provide retirement income has led to an income gap in pension savings that could worsen economic inequality. A recent study by the American Sociological Association reinforces what other research suggests: defined benefit pension plans are more effective at accumulating adequate retirement income.
- Watch for actions to support CUPW and to push for expanded postal services including postal banking in the week of September 11-17. CUPW and their allies including People4Posties are working to organize actions in this week.
Lower Mainland Retirees Meeting stay tuned. A date and a venue are being worked on. The meeting will be in late September 2016