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December 2019

Dec 9 to Dec 13

 

 

CUPW National Office

377 Bank Street
Ottawa, Ontario  K2P 1Y3
Canada

Tel: (613) 236-7238
Fax: (613) 563-7861
TTY: (613) 236-9753

feedback@cupw-sttp.org

CUPW launched its postal banking campaign with a giant inflatable piggy bank in downtown Ottawa.

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Showing 1 - 6 of 6 results
Monday September 15 2014
Thursday November 6 2014

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Thursday November 6 2014
Currently as CUPW members who work at Canada Post we have a defined benefit pension plan. WHAT IS A DEFINED BENEFIT PENSION PLAN? A defined benefit (DB) pension plan is a plan in which the monthly retirement pension is determined by a set formula, rather than depending on investment returns or the health of the plan. The formula for the Canada Post Pension Plan is determined by our years of service and our earnings in the best five years of consecutive service. For part-time and RSMC workers, years of service are seen as a ratio of full-time hours.
Monday September 15 2014
Before going over the recent developments regarding our pension plan, I would like to remind you of the principles that guide the Union in all of its discussions regarding the plan, whether with Canada Post or with the Office of the Superintendent of Financial Institutions (OSFI). These principles are as follows:
Friday July 25 2014
The Facts Contrary to what you might have read on social media and elsewhere, the Union is not in consultation with the Corporation to deal with problems, real or imagined, facing the CPC pension plan or the Corporation’s inability to meet its funding obligations. Further, the Union’s participation in the Federal Government’s consultation on Target Benefit Plans in the federal sector is only tangentially connected to our concerns over Canada Post’s plans for our Defined Benefit Plan.
Wednesday April 9 2014
In a letter dated February 17, 2014, the Office of the Superintendent of Financial Institutions (OSFI) wrote the following in response to our letter dated January 29th: “Canada Post has recently offered a meeting with all collective bargaining agents and with the Pension Advisory Council that will cover the topics of funding relief, financial projections for the Plan as a result of the relief, and Canada Post’s role as plan administrator.”
Friday February 28 2014
After weeks of phone calls, letters and meetings between CUPW, Office of the Superintendent of Financial Institutions (OSFI) and Canada Post, OSFI has agreed to lift the restrictions on payments of commuted values from the Canada Post Pension Plan. They have imposed new restrictions which will allow members to withdraw the commuted value of their pension, but force Canada Post to pay a deposit of 40% of each withdrawal into the Canada Post Pension Plan.
Thursday February 6 2014
The Canada Post Pension Plan has been notified by the Office of the Superintendent of Financial Institutions (OSFI) that the administrator may not transfer moneys out of the pension plan or purchase immediate or deferred life annuities without the prior consent of OSFI. OSFI is the independent regulator who oversees pension plans to ensure compliance with the Pension benefits Standards Act (PBSA) and its regulations.

Support Postal Banking - Download and Sign the Petition

Canada needs a postal bank. Thousands of rural towns and villages in our country do not have a bank, but many of them have a post office that could provide financial services. As well, nearly two million Canadians desperately need an alternative to payday lenders. A postal bank could be that alternative. Download and sign the petition urging the Government of Canada to instruct Canada Post to add postal banking, with a mandate for financial inclusion.

GET THE PETITION