PENSION REPORT, JANUARY 2021
During the 2020 Contract Negotiations with General Motors, the Union secured several $40,000 incentives. Over the last month the Company canvassed members and formed a list of those who are eligible.
Some eligible members were given the option to retire February 1st or March 1st. If you are one of these members and you have not spoken to your pension representatives – we recommend you come to the office before your lay off starts. This will make it easier to provide the necessary initiation package.
For members who have not had a firm retirement date communicated to them by the Company – we recommend you come to the office for your initiation package and to discuss the retirement process. This will provide us an opportunity to make sure that all your affairs are in order prior to retirement.
The Company has communicated with the Union that the Retirement Incentive can be directed into an RRSP provided you have the available space. We recommend you speak with a financial advisor or your bank in order to determine RRSP space and eligibility.
The Union Hall remains closed due to COVID-19 restrictions; therefore, we will be unable to set up appointments there at this time. Please call ahead to book a time to meet between 8:30am and 2:30pm at the Plant.
Jordan Lennox & Ken Maclean, Alternate
Jordan Lennox, Vice President & GM Pension Rep.
In-plant : 905-641-6443
Union Hall 905682-2611 x 232
E Mail: Jordan.Lennox@GM.com