CUPE says City of Saskatoon pension in surplus
Union agrees with transit union and is exploring options
The national office at CUPE, the union representing four locals and more than 2,500 city workers in Saskatoon, now agrees with the locked out transit workers that the pension plan is sound.
The Amalgamated Transit Workers Union (ATU) is arguing that the city’s pension plan is now in a surplus position, not in a deficit, as officials have stated.
Today, a CUPE national spokesperson said they agree with the ATU.
CUPE has had its own pension experts look at the latest data from the City of Saskatoon and they tell the union that there is no deficit.
What’s more, said national representative Rhonda Heisler, the four locals in Saskatoon believe that they were misled when they signed their latest contract.
"The projected pension deficit was nowhere near what was presented to us at the bargaining table," Heisler said.
CUPE accuses city of hard ball tactics
In an interview with CBC Saskatoon, Heisler also accused the city of "hardball bargaining" tactics and that CUPE is now exploring all its options.
In a new release this morning, the city said it already uses an arms-length process, as required by law in the valuation process.
Heilser said the city can “spin” this dispute in whatever way it likes.
“When you are doing evaluation there are so many variables that go into creating the evaluation and so many assumptions,” Heilser said.
“We take issue; we have always taken issue with the city actuarial firm. “