quote:

---

A major pension plan for grocery workers has allegedly lost more than $1 billion because of negligence by trustees and some of the country's biggest supermarket chains, a class-action lawsuit charges.

---

I believe workers need to be aware of what is happening to their pension plans.

Workers covered by this pension plan need to ensure that none of these plaintiffs receives their retirement until this issue is resolved.

What better way to force workers in this industry to continue working. This mismanaged pension plan will have significant implications for these workers. Older workers will receive reduced monthly payments while younger workers will see their premiums increase. Consider the characteristics of work in this industry: reduced opportunities, stagnant wage growth, reduce government support, and part-time. How can unions expect workers to fight back when the union itself is undermining support for its own members? How can unions expect solidarity from young workers when they need to work at the same employer for years before they can be entitled to this pension plan? Lastly, how can the union enter collective bargaining when the employer knows the pension for these workers is a mess?

It is time for a new form of unionism within the service industry.

quote:

---

Last year, the commission laid charges after its report found widespread violations of provincial legislation and federal regulations, including a lack of homework on huge investments, sloppy bookkeeping, poor supervision and breaches of rules concerning exposure to sectors such as real estate. A Toronto Star investigation also revealed that the board committee handling direct investments pumped at least $280 million of pension funds through companies into questionable ventures.

---

And if found guilty of the violations and breaches, I'm sure there's a hefty sentence of lunch with the Judge or something.

The time to decide this class action will be measured in decades, and, if an award is made to the plaintiffs, very nearly half will be eaten up in legal fees.