UPDATE: Nav Canada Pension Plan discussions
We are providing this update to clarify any misinformation that may exist about the NAV CANADA Pension Plan (NCPP).
For some time now, NAV CANADA has been engaged in discussion with the Nav Canada Bargaining Agents Association (NCBAA) about changes to the NCPP including indexation. The ultimate goal of these discussions has been to solve the “pension problem”. The “pension problem” is the volatility of the solvency liabilities and associated contributions NAV CANADA is required to make.
The NCBAA continues to engage the employer in discussions about pension plan reform. The purpose of this is to determine, in a non-prejudicial forum, whether a suitable arrangement could reached for consideration by the various Unions. To date this has not been achieved.
The principle activity in these discussions has been focused on ways to limit the volatility that comes with solvency calculations as prescribed by law. It appears that to accomplish this goal we must improve the pension benefit in several ways that would create a benefit that is the same or better than what we enjoy today.
With respect to any proposed changes, members can expect to receive more information if and when an agreement is finalized. In the end, it will be the members of the Pension Plan that have the final say on any proposed changes to the Plan.
Please rest assured that we are doing everything possible to protect the best interest of the membership. No deal will be finalized until all members have had their say.
- There is no agreed to “deal”.
- Any proposal must be “as good as or better” or it will be rejected.
- Any proposal must go to the UCTE National Executive for assessment and agreement to proceed.
- Any proposal must go to full membership ratification.