Tunnel
Al Clarke Our Pension Crisis
Pension Facts
In 1992 the Bob Rae NDP government allowed General Motors to shirk
their pension commitments to put the required amount into the fund
by paying a token amount of penalty to the government instead of
paying into the fund. That NDP government caused the GM members'
pension fund to be put in peril through Bill 5.1
Our Pensions
We have had seventeen years of neglect Our pensions are not fully
funded Our pension received a government infusion of $3.2 Billion
as part of the bail out-the pension is almost $7 Billion in the
hole43,717 Hourly rated employees, retirees and survivors in Canada
would be short 43.5% of money if GM failed based on estimates of
Nov. 2006
Who does it impact?
There is 1 GM worker for every 9 Pensioners According to the
Toronto Star there is a GM Pension deficit of $4.9 billion or
$112,000 per plan employee that is active and retired Remember what
happened to the Nortel employees?
How does the pensions compare?
GM PensionFuture is bleakAverage is $15,724 per year(2006) compared
to Teachers pension of Teachers Pension of $32,000 and $38,000 for
Civil ServantsLess per monthNo self direct pension fundNo union
rep
What does it mean?
Important to note that GM can take advantage of a special exemption
to their pension plans on the books since 1992 on the issue of
solvency deficiencies In 2009 they were given another 10 years to
make it upWhy is Chris Buckley ignoring the elephant in the
room?Why are activists shouted down in public meetings?
Guess who is asleep at the switch?
Pension, What Pension?
You guessed itYour CAW Local 22 president , Chris Buckley is
responsible for this mess.
What is Al Clarke's Solution to the Pension Crisis?
Al's Pension Solution
Improved Union Political Activism - working Pensions must be
savedRestore the GM contributionLobby federal and provincial
governments to be held accountableInsist on Union representation on
the pension groupEnable the pension to be self-directedLets index
the pension
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Vote for ChangeVote on Jan 20/10 http://www.222talk.ca
Call Al @ 905-439-8844
