GSU wins Viterra pension dispute

Grain Services Union Wins Pension Battle

Regina, Jan. 18, 2008 – Grain Services Union (ILWU • Canada) announced the beginning of the final chapter of its pension solvency dispute with Saskatchewan Wheat Pool Inc., doing business as Viterra.

“For the past 43 months GSU and Viterra have been engaged in a dispute over resolving a solvency deficiency in the Saskatchewan Wheat Pool/Grain Services Union defined benefit pension plan(SWP/GSU Plan) covering approximately 1,800 current and former employees of the company,” said GSU General Secretary Hugh Wagner.

“Through the many ups and downs since April 2004 GSU has resisted every effort by the employer to shift all or a major part of the financial burden for the solvency deficiency onto SWP/GSU Plan members,” Wagner said. “I am happy to report that the patience and persistence of GSU and its members have paid off and Viterra will fully fund the solvency deficiency and Plan members’ benefits will be fully protected.” (read more....)