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Pension Sharing Update & Bargaining Town Hall

Details on pension surplus sharing should be sent to members very soon, that will outline individual amounts from the 2021 and 2022 plan surplus.  OSFI requirements will delay payments for a couple of months still, but the required consultation process with active pensioners has successfully concluded.  OSFI may require a similar authorization process should the pension plan be in surplus for 2023 as well, but we hope the process will take less time now that we’ve been through it once.

At negotiations, compensation discussions begin the week of February 5.  We hope that CBC management understands our real need for a fair wage increase. Our CMG bargaining survey showed that most members think that’s 5% a year. Our bargaining team will do all they can to meet expectations given the current fiscal reality.

Cuts have begun at CBC, with a handful of CMG jobs already being declared redundant, and more seen in management ranks. A larger number of CMG redundancies are expected in a few months time.  Across the country, our local union leaders are working diligently to form workforce adjustment committees, to ensure any and all members who receive redundancy notice are well supported and all rights are defended.

There will be another Town hall on bargaining this Wednesday, January 31 at 19:00 EST, held by zoom, where you can let the bargaining team know why compensation matters to you.

Now is the time for us to show kindness and empathy towards one another, and hold tight in our union bonds.

In Solidarity,
CBC Branch Executive Council

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