Pension Surplus Sharing Agreement Update

In mid-December, the Pensioners National Association along with the English and French Unions of the CBC concluded discussions with the Corporation on the Memorandum of Agreement on surplus sharing and cost management of the employees’ Supplementary Health Care Plan. The Parties were unable to reach agreement on any amendments.

In early December, the PNA attempted to move the discussions towards conclusion by providing an overall position on the review. In essence, the PNA believes that no substantive changes are required, and that the status quo should be maintained.

However, following those discussions, the CBC advised the PNA and the Unions that as far as it’s concerned, the MOA will expire at the end of March 2020, unless the parties agree to some yet to be identified changes. The PNA and the Unions have rejected that position, noting that the agreement contains no expiry date.

Despite the CBC’s unilateral position, the PNA and the Unions offered the Corporation an opportunity to outline any changes it believes are necessary with the possibility of meeting again in the new year.   We are awaiting  feedback from the CBC.

While the PNA believes the Agreement reached in 2009 remains in effect, additional legal advice is being obtained. The PNA is prepared to defend an agreement that was reached in good faith. Watch for further developments.