As one of its activities NORPW has participated actively in launching a “Retirement Security Now!” campaign as a member organization with the Ottawa Committee for Pension Security.
This campaign is developing in the face of growing and intensifying attacks on “Defined Benefit” pension plans by governments and corporations and the failure of the existing retirement system to deliver adequate pension plans for workers and those who are disadvantaged in the formal, paid workforce. Our campaign notes the CPP and the Old Age Security (OAS) have either inadequately expanded (CPP) or actually shrunk in comparison to average wages and the GDP (OAS).
The NORPW Executive Board unanimously endorsed the campaign in September 2019. Background information on the campaign is available in both French and English upon request.
Resistance To Attacks On Pensions Around the World
Postal workers and retirees in this country have become increasingly aware that the agenda of our neoliberal federal (and provincial) governments have focused their attacks on decent pensions.
It turns out that this is a common thread internationally, with workers and retirees in a host of countries now vocally protesting these austerity measures—ranging from demonstrations and protests to massive resistance. Here are a few examples:
· France has experienced many weeks of an ongoing general strike against the so-called “pension reforms” of the Macron government. The unions and community supporters have vowed to remain on the streets until the attack on pensions have been withdrawn.
· Chile is in the midst of a several months-long popular uprising that, among other things, has been caused by the failure of a privatized pension system—a legacy of the former Pinochet dictatorship.
· Colombia continues a national strike prompted by the “lightning rod” of the autocratic President Duque government proposal to cut pensions. Workers and community activists are facing down the threats of right wing militia groups by publicly resisting.
· India as of January 8 was virtually shut down by what is likely the largest strike in history (250 million participants) called by the Centre of Indian Trade Unions (CITU). One of the priority demands is “guaranteed pensions for the entire working age population”.
· Spain has had protests of unionists and retirees in the past several months insisting that pension payouts rise in line with inflation. Protesters have declared their intention to continue until their demands have been met.
While it’s true unions and retiree groups here have a long way to go to achieve pension security for all, it is also true that as we enter a new decade, we are part of a struggle shared by many around the globe.
Increase In CUPW Retiree Life Insurance Coverage From Coughlin Insurance
All CUPW retired members, who were members in good standing at the time of their retirement, have coverage by Coughlin Life Insurance until they are 70, provided by CUPW.
As of January 1, 2020, if you pass away (under the age of 70) and are a retiree covered by Coughlin Insurance your beneficiary will receive $2,000. Prior to January 1, 2020 this amount was $1,000. For further information contact Coughlin Insurance at: 1-888-613-1234.
Retirees In BC Must Apply For Rebate Of BC Medical Service Plan Premiums Paid In 2019
Urban Operations Retirees in British Columbia may be entitled to a 50% rebate from Canada Post of the BC Medical Service Plan premiums they paid in 2019. In order to get this 50% rebate you must meet certain conditions such as providing proof of payment of the premiums. This can be your bank statement, or a free statement of premiums paid from the Government of BC. To get that you need to phone Revenue Services at the BC Government’s Revenue Service department and ask for a print out of the BC Medical Service Plan premiums you paid in 2019. They will send you this for free. The number is 1-877-405-4909.
Details of the eligibility requirements may be found on the information on the proper form. It can be found on CUPW Vancouver Local website (cupwvancouver.org) under tab ‘I’m retired’. You must apply by June 30th 2020.
Workplace Pensions –The Best Way To Have A Secure Retirement
As most retired postal workers know, our Canada Post Defined Benefit Pension Plan provides us with a level of retirement security. A recent study (by the Health Care of Ontario Pension Plan) found that for each dollar contributed, the retirement income from a workplace pension plan is $5.32 versus $1.70 from a typical individual approach of saving and investing. In other words our Canada Post Pension Plan could be worth up to three times more than having an RRSP or other type of investment plan. This is another reason why we need to protect our Defined Benefit Pension Plan.
Bill C-27 —Through The Back Door?
Last fall, the Office of the Superintendent of Financial Institutions (OSFI); the federal regulator who oversees pension plans (including our Canada Post Pension) asked for comments on their proposed policy changes.
These proposed changes raised significant concerns that OSFI is considering a major policy change that could open a back door for federally-regulated employers (like Canada Post) to walk away from pension promises they’ve already made to workers and retirees. In their call for submissions on these proposed changes OSFI claimed “there are no significant policy changes” in their federal pension policy, but the NORPW and many other organizations strongly believe otherwise.
In the last Parliament, Liberal Federal Finance Minister Bill Morneau introduced Bill C-27. This legislation would have given employers (including Canada Post) a green light to break their pension promises. It would have allowed Canada Post to pressure current workers and retirees to give up our more secure Defined Benefit Pension for a far less secure Target Benefit Pension. In response to a campaign from the labour movement and retirees organizations, the Liberals came to their senses and C-27 did not move forward.
The proposed OSFI changes strongly indicate that the Liberal government may now be quietly trying to usher harmful elements of C-27 in through a back door. Instead of trying to pass legislation through our democratically-elected parliament, very dangerous and worrisome changes are trying to be brought in through a regulatory guidance document. This is so wrong.
The NORPW, the CUPW Lower Mainland Retirees Organization, the Canadian Union of Public Employees, the Canadian Labour Congress, and the BC Federation of Retired Union Members all wrote briefs opposing these risky and detestable changes. To date OSFI has not actually enacted any of these changes, but we need to continue to monitor the situation and remain prepared to fight for our pensions.
Canada Post Pension Advisory Committee (PAC) Elections For Retirees –Vote To Protect Your Pension
In spring 2020 Canada Post will hold elections for 3 retirees to represent retired members on their Pension Advisory Committee (PAC) for the next three years. It is important that you vote for people who will work to protect your pension.
The NORPW will send out more material on this.