Canada Post union leaders left frustrated by lack of answers at annual meeting
Posted August 19, 2016 1:45 pm.
This article is more than 5 years old.
OTTAWA – Union leaders attending Canada Post’s annual meeting were left frustrated as the Crown Corporation refused to detail its calculations on the cost of the union’s latest contract proposals.
Canada Post has estimated the union’s demands surrounding pensions and pay equity would cost $1 billion.
CUPW president Mike Palecek repeatedly asked Canada Post officials to spell out how they arrived at the number, but was told to ask his negotiating team for a breakdown.
Palecek says his negotiators have asked for a breakdown but have been stonewalled.
Canada Post also refused to answer questions at the meeting about negotiations, but then spoke at length about the volatility of its pension plan and defended its proposal for a defined contribution plan for new employees.
Chief financial officer Wayne Cheeseman said the pension plan is growing faster than the corporation, noting the plan’s solvency deficit rose by $2 billion in the last six months to reach $8.1 billion.