Every generation of worker is facing the attack: new hires, veteran employees, and the retired. In every case, the public and private employers want to replace plans with guaranteed pay outs (“defined benefit”) with pensions that pay out based on stock markets or company performance (“defined contribution”). Check out Pensions 101 for an essential read on different types of pensions. But pension plans are healthy in Canada. The pensions “time bomb” is being used by government and corporations to get what they want. Corporations want plans without defined benefits so they can use the money to gamble on the stock market, and bust up union power. Governments want to cut spending for the 1% austerity agenda and weaken public sector unions. Here are the five fights that show us why we need to find a way to rebuild a coordinated pensions campaign for all workers, inside and outside the unions.
Posted on: Sat, 30 Aug 2014 13:46:08 +0000
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