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Unifor members “held a street occupation and rally” at the office of Northstar Aerospace’s owner to “demand” the funding of the company’s pension deficit.
They, more than 100 of them according to a Unifor release, rallied in front of the Wynnchurch Capital Canada office in Toronto to “demand the private equity firm fund the pension deficit” for Northstar retirees.
“As the private equity owners of Northstar Aerospace, Wynnchurch Capital can do the right thing and show workers the respect that they deserve by funding the pension plan,” Unifor National President Jerry Dias is quoted saying. “Workers made Northstar profitable and it’s about time corporations pay a fair share to retirees.”
The rally follows “a three-day occupation” the union conducted at Northstar’s Milton plant in August.
“The union is concerned that Northstar Aerospace is closing its Milton plant at the end of September and with the closure there will be a 24 per cent pension cut that the profitable company refuses to fund,” states a release.
More: Retirees talk about the impact a pension cut would have on them.

ARIA provides a forum for an informed discussion on retirement income adequacy, and other related issues, including pension and retirement coverage, and defined benefit pension plans – ARIA pensions blog, 12 Dunlop Street, Barrie, ON, L4N 1V6 – sitemanager@ariapensions.ca

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