Unionized workers at Saint John Airport are joining the Colleges of Applied Arts and Technology pension plan’s DBplus.
According to the Public Service Alliance of Canada, the New Brunswick-based airport workers were previously in a defined contribution plan, but returning to a DB plan was a “core demand” for the 25-member bargaining unit.
“The message we’re sending to all employers is clear,” said PSAC’s national president Chris Aylward in the release. “If you think defined benefit pensions can’t be restored, you’re wrong. We’ve proven that when we stand together, retirement security is never out of reach.”
The airport’s management and the union were in negotiations for almost a year. Along with the return of the DB plan, another key win was wage increases.
“I’m pleased that we have worked with the union to reach a fair agreement and I’d like to thank the negotiation teams on both sides for their diligent and respectful efforts,” said Derrick Stanford, airport president and chief executive officer. “I’m delighted that YSJ is the second airport in Canada to offer our unionized employees this progressive new pension plan.”