Wednesday, September 21, 2016

CALLING TIME ON COMPANY PENSIONS

Many of the details of the tentative contract signed between General Motors and its union, Unifor, are unknown.
Nor do we know how much Canada’s federal and provincial governments will be expected to chip in to win this new investment for Ontario.
What we do know, however, is that this deal, if ratified, will drive one more stake into the heart of company pension plans across Canada.
Canada’s largest private-sector union has acknowledged that it can no longer even pretend to support defined-benefit pension plans.
 

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