With unionized Canada Post workers on 72-hours notice for a lockout, the Canadian Federation of Independent Business is encouraging the postal service to find a solution to their growing pension problem and urging a quick settlement before any mail disruption.
CFIB issued a letter to Canada Post president and CEO Deepak Chopra last week, calling for a settlement, but stressing that unfunded liabilities in Canada Post’s pension plan are not a trivial issue, with a $6.2 billion solvency deficit. Pension costs must be lowered to ensure plans are sustainable and don’t force rate hikes or service cuts on customers.
More than nine in 10 small business owners say Canada Post’s delivery services are somewhat or very important to their business. During any work stoppage, CFIB is providing direct counselling to small business owners on other options, such as Interac E-transfer to pay or receive money. CFIB has also made arrangements through its ZoomShipR service to provide discount courier and package delivery services.