Air Canada has announced their intent to establish a new insurance company called AC Life Insurance Company, an initiative to further de-risk the Air Canada sponsored DB pension plans. It is a fairly complicated proposal and we are carefully considering how it could impact our plan members’ pension.
Our pension lawyer, actuary consultant, CUPE National senior pension officer and Pension Committee have been engaged from the start to assess and evaluate the proposal. We are still gathering information from the Company and it will be some time before we can provide our final assessment and analysis.
President, Air Canada Component of CUPE