{"id":17366,"date":"2019-10-31T15:30:26","date_gmt":"2019-10-31T19:30:26","guid":{"rendered":"https:\/\/www.benefitscanada.com\/news\/via-rail-unifor-collective-bargaining-includes-strengthening-pension-plan-137925"},"modified":"2019-10-31T15:30:26","modified_gmt":"2019-10-31T19:30:26","slug":"via-rail-unifor-collective-bargaining-includes-strengthening-pension-plan","status":"publish","type":"post","link":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/2019\/10\/31\/via-rail-unifor-collective-bargaining-includes-strengthening-pension-plan\/","title":{"rendered":"VIA Rail, Unifor collective bargaining includes strengthening pension plan"},"content":{"rendered":"\n
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Alethea Spiridon<\/span> | October 31, 2019 <\/p>\n

Unifor locals representing VIA Rail Canada Inc. employees have opened bargaining in Montreal as contracts are set to expire for more than 2,000 members.<\/p>\n

Members identified a number of key issues for contract negotiation, including a strengthened pension plan, according to a press release. The current collective agreements expire on Dec. 31, 2019.<\/p>\n

Read: Unifor and Fiat Chrysler agreement includes benefits and pension changes<\/a><\/strong><\/p>\n

\u201cMembers at VIA Rail have a two-tiered pension plan, awarded by the arbitrator and argued for by the company,\u201d said Sarah McCue, national representative at Unifor, in an email to Benefits Canada<\/em>. \u201cEmployees hired before 2014 contribute to a defined benefit plan, which is in surplus. The benefit is 1.7 per cent up to the [year\u2019s maximum pensionable earnings] and two per cent above the YMPE times their years of credited service to a maximum of 35 years. Members contribute 8.2 per cent up to the YMPE and nine per cent above the YMPE towards their pension.\u201d<\/p>\n

However, employees hired after 2014 don\u2019t have the same stable retirement guarantee, she added, as their hybrid plan only provides a benefit of 0.75 per cent of the YMPE times their years of service, with no contributions required for the DB side of the plan.<\/p>\n

The hybrid plan requires mandatory member contribution at four per cent towards the DB plan, matched at 50 per cent by the company up to a maximum based on age and service, \u201csuch that if age and service is less than 45 points, the maximum employer contribution is only 0.5 per cent,\u201d said McCue.<\/p>\n

Read: New contract for CN Rail mechanics includes benefits improvements<\/a><\/strong><\/p>\n

\u201cWhile these differences in benefits are already vastly unfair, additional changes add insult to injury,\u201d she said. \u201cThe so-called hybrid plan eliminates pre-retirement spousal benefits, puts conditions on indexation and prevents any transfers or lump-sum payments to the DC side of the plan.\u201d<\/p>\n

In an email to Benefits Canada<\/em>, Jerry Dias, Unifor national president, said the union won\u2019t be bargaining in public. \u201cProposals have been presented to the company. We\u2019re looking forward to continued negotiations in the coming weeks. Our goal is to ensure a stable retirement for all members at VIA Rail and their families.\u201d<\/p>\n

Via Rail did not respond to Benefits Canada<\/i>\u2019s request for comment.<\/p>\n

Read the full article at BenefitsCanada.com<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Alethea Spiridon | October 31, 2019 Unifor locals representing VIA Rail Canada Inc. employees have opened bargaining in Montreal as contracts are set to expire for more than 2,000 members. Members identified a number of key issues for contract negotiation,...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[],"tags":[],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/17366"}],"collection":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/comments?post=17366"}],"version-history":[{"count":0,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/17366\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/media?parent=17366"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/categories?post=17366"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/tags?post=17366"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}