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Pensions Hold Up Deal

Canada Post has issued a 72-hour lockout notice to the Canadian Union of Postal Workers (CUPW), raising the spectre of a work stoppage by Friday. The announcement came hours after Canada Post said its latest offer presented on June 25 was fair and reasonable and that it still hoped to negotiate a deal with the union. However, it said the 72-hour notice does not necessarily mean it will shut down on Friday. The two sides say the key sticking point in negotiations involves changes to employee pension plans. Canada Post wants to introduce a defined contribution pension plan for new workers. The union has rejected this saying it would create a two-tier pension framework.

Courtesy of Benefits and Pensions Monitor website News Alerts 



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