The Canadian Union of Postal Workers (CUPW), the largest union representing workers at Canada Post, has serious concerns about Canada Post being able to sustain its daily operational expenses and pension obligations.
Denis Lemelin, National President of CUPW, outlined his concern in a September 2013 letter sent to Lisa Raitt, Minister of Transport:
“As you know, the debate on the future of the postal service, which we believe must be public, is of the utmost concern to us. That is why I am writing to you today about an issue that comes up in all of the Corporation’s interactions with the media: the pension plan. Canada Post states that its line of credit will be terminated in April 2014 and that it will have to resume special pension fund payments, which means it will no longer have enough money to operate.”(1)
1. CUPW Asks Minister Raitt to Organize a Meeting to Discuss Pension Plan
2. See also the National Post article: Canada Post Poised to Lay an Egg Next Easter
3. There are dissenters within CUPW over this letter. See Pension Plan Discussions September 22, 2013