In a bizarre idea to solve the 8.1 Billion dollar pension deficit, the Canada Post Union wants it to stop being counted. Since the taxpayers are on the hook for the shortfall, why keep up that embarrassing counting? Better to pretend it doesn’t exist. Other “solutions” make no more sense.
related: The Formula For Social Unrest & Political Upheaval
“Better to pretend it doesn’t exist.”
Looks to me like the Union robbed the pension fund or invested it in losing ways.
I wonder, did the Union spend any of that stolen money on political campaigns?
And all this time I’ve been told that Canada Post has been profitable (for the most part) of late. In the same way that GM is I guess.
It may be that Canada Post is profitable.
The CUPE Postie Pension Plan is an entirely different thing from whether or not postage paid is breaking even or possibly profitable.
That the Union itself doesn’t want the pension plan counted suggests to me that someone(s) is/are embezzling or at least investing it very badly.
Which reminds me of Adscam only on a larger scale and easier to hide being from a Crown Corporation pension fund.
But $8.1 Billion is a lot of money and had to be going on when Harper was PM if it was embezzlement.
Most of it was probably badly invested.
It doesn’t mean anything in regard to “embezzlement”…..it simply means that the defined benefit pension plan is not sustainable. Pretty simple concept. It must be completely revamped into a defined contribution plan.
Right. They are offering more than they can provide with the DBPP. I’d argue that even though their daily operations may be profitable when you add in the cost of this liability it more than erodes the net gains which in my view is an ‘unprofitable’ business practice.
Here’s a better question, at what point does Canada post go from being a crown corpse that delivers mail to being a crown corporation that is a pension benefit distribution that happens to deliver mail as a side business.
I would really enjoy killing an enviro!!
Come on, it’s 2016 already. This and other budgets will balance themselves out.
Re: ”The Formula For Social Unrest & Political Upheaval”
Just look at the age group of the people who are holding up the anti-tarsands sign!!
60 year old retired government leaches who have not quite finished sucking the system dry as of yet. Every protest that goes against Western Canada is made up of that same cult!
“60 year old retired government leaches who have not quite finished sucking the system dry as of yet. Every protest that goes against Western Canada is made up of that same cult!”
Yep! the main group are civil service types. I have a sister who gets a socialist magazine called “MONITOR” Canadian Center for policy alternatives (she thinks I should read them..done. The policy papers ALL plug the CBC, Post office, Air Canada, CNR etc (the peoples business) They are nothing more than civil servants pushing themselves, but they have a vision stuck in the 1950’s
The good news IMHO is that AI (artificial Intelligence) will replace all the high Maintenance (Cost) of the Civil service in less than 20 years.. That is why Trump will not be adding the dreaded administration costs for his plans…
Tell me about it! You can spot them a mile away. I mail a letter to my bank 42 miles from here, it can took 10 days. Then I mailed a sympathy card to an old friend who lives SE of Regina, Pop. 475, The card came back here because I didn’t have the PO Box number. And if you phone the PO in that town, they tell you that it’s classified info, yet I can phone Sask tel and find his phone number.
It took a while to register. The more time they can waste making rules, the less time they have to devote to sorting mail. That’s why the letter takes longer to get there than if you delivered it on foot! Commies!
Corrected.
Tell me about it! You can spot them a mile away. I mailed a letter to my bank 42 miles from here, it took 10 days. Then I mailed a sympathy card to an old friend who lives SE of Regina, at Montmartre, Pop. 475, The card came back here because I didn’t have the PO Box number. And if you phone the PO in that town, they tell you that it’s classified info, they can’t give out PO box numbers. Yet I can phone Sask tel and find his phone number.
It took a while to register. The more time they can waste making rules, the less time they have to devote to sorting mail. That’s why the letter takes longer to get there than if you delivered it on foot! Commies!
“60 year old retired government leaches who have not quite finished sucking the system dry as of yet. Every protest that goes against Western Canada is made up of that same cult!”
It is going to remain as such until and unless the private sector starts giving these f****** parasites a good taste of the country they crave.
Every tractor-trailer and truck hauling fuel and food into our major cities should, without any warning, pull over and park for about a week in mid-January.