Manufacturing Industry
Air Canada's unions reject pension plan change
Airline Industry Information, Feb 9, 2004
AIRLINE INDUSTRY INFORMATION-(C)1997-2004 M2 COMMUNICATIONS LTD
Unions at Air Canada angrily rejected a plan by its new financial backer to change the airline's pension schemes.
The company providing the money for the airline to emerge from bankruptcy, Trinity Time Investment, is reportedly seeking to switch its pension plan to one where employees bear investment risks rather than the company.
The airline currently has a defined benefit scheme, where employees are guaranteed a specific pension level regardless of market fluctuations, Reuters reported.
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