July 15, 2016
Partner and pensions and employment expert Mitch Frazer has been quoted in the Globe and Mail for his insights into some of the pensions-and benefits-related aspects of the Canada Post labour dispute. Below is an excerpt of the article.
Toronto pension lawyer Mitch Frazer, who advises organizations on pension design changes, said he hasn't seen other cases of Crown corporations closing their DB pension plans to new hires, but he has seen a growing number of unionized workplaces in the private sector make the move.
He said the trend is becoming especially common at companies with financial problems or large pension deficits, and the next step in the evolution could see the trend shift to unionized Crown corporations that operate with a more commercial model.
“Other Crown corporations that are supposed to be run as a stand-alone, for-profit entity would definitely look at this and say, ‘If things get tighter for us, this may be an area we need to look at,’” Mr. Frazer said.
To read the full article, click here.