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History

CLPENS evolved gradually, out of informal discussions of pension issues among individual members.  Some common themes became apparent:

• The Canada Life Pension Plan is, in general, a very good one.  It provides excellent benefits at a relatively low cost to employees.

• In recent years, changes have occurred in the economic climate and corporate culture within Canada.  Individuals are expected to assume more responsibility for their own futures.  Not only is increased vigilance in financial matters strongly advisable, it is imperative.

• The company occasionally makes changes to the Pension Plan.  Members are not always informed of the changes, and when they are informed, the short and long-term implications of the changes may be difficult to understand.

• When questions about pension issues are submitted to the company, replies are often incomplete, unclear, and very slow to arrive.

• Few members fully understand their rights under the Pension Benefits Act.

• No one with official standing can be seen to provide independent representation of members’ interests.

The Members Group was formed to pool resources and information about the pension plan.  We are not a forum for disgruntled employees or individuals with grievances against the Canada Life.  We do believe that all members should be aware of their rights under the Pension Benefits Act, and how changes to the pension plan affect these rights.

In any contest over a plan’s provisions, particularly in a non-union environment, the employer has an enormous advantage over plan members.  Individual efforts to obtain information or to play any part in changes to the plan have met with limited success.  It is only through the formation of a large, active and interested group, that pressure might be brought to bear on the company to gain input to the operation of the Plan and protect our rights.

Page Last Revised

19 Nov 2008

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