Canada Post workers propose new deal, won't strike before Wednesday: union

The union representing postal workers says it has presented Canada Post with new offers, and workers won't be striking before Wednesday.

Provided that the Canadian Union of Postal Workers gives 72 hours notice, 50,000 of its members are legally allowed to strike starting Saturday, and Canada Post is also allowed to lock out its workers.

But CUPW representatives say the union hasn't presented its notice. And Canada Post has not served notice of a lockout.

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The union and Canada Post both say the number one sticking point in negotiations involves changes to employee pension plans.

Canada Post tabled new contract proposals a week ago, and on Friday, the union came forward with a counter-offer.

The union is proposing wage hikes, and rejecting Canada Post's suggestion that new employees get a pension plan that operates like an RRSP, called defined contribution, instead of the defined benefit plan for current employees that guarantees a set level of retirement benefits.

A representative from Canada Post says in a written statement that the union's proposed plan would add "at least $1 billion" in costs over the next three years.

The statement also says that two other unions representing Canada Post workers have agreed to the pension changes, and only CUPW is holding out.

The last time Canada Post experienced a work stoppage was in 2011, which included 10 days of rotating strikes and a lockout before employees were legislated back to work by Ottawa.