Pension Surplus Issue

The Bank of Canada Pension Fund has a surplus in excess of $150 million. The Bank has chosen to share the surplus with current staff in the form of a contribution holiday for 2000 and 2001. Although the Bank has provided a modest increase to pensions at age 65, it has so far rejected requests to share the surplus equitably with pensioners and deferred pensioners who have contributed to the surplus.

Links:

• The Original Arguments
• The Original Proposal ~ FAQ's
• Chronology ~ prior to formation of BCPA
• What is happening to your surplus? ~ Members only
• What's new
• Press Release ~ October 12, 2004 ~ Class Proceeding issued.
• Class Proceeding ~ Details from Koskie Minsky web site (the BCPA legal firm)