Part Two of The Current
Striking Air Canada workers and locked out Canada Post workers say pensions are part of the reason they're holding placards today. Both companies want to change the pension coverage for future workers. But the unions can't take much solace from the private sector. Fewer than three million private-sector workers in Canada have a company pension. And even when you have one, workers with GM and Nortel can tell you exactly how stable they are. As the country greys, pension plans are becoming more expensive than expected. Air Canada's pension deficit is 2.1billion.Canada Post says it will continue to offer a defined benefit pension plan, but new hires face different rules. They'll need to work to the age of 60 instead of 55 to get a full pension.
Are workplace pensions worth fighting for? Today we spoke with three young workers to tackle that question. Nogah Kornberg is a 26-year-old with a research contract at the University of Toronto. Rekha Sharma is a 26-year-old server at Novotel Hotel in Missassauga. And Will Predhomme is a 29-year-old professional sommelier. All three were in Toronto.
Other segments from today's show: