It’s now become clear that the original December 13 “soft” deadline for receipt of votes authorizing the pension surplus payout is no longer in effect.
The major stumbling block is the work stoppage at Canada Post which has meant the majority of retirees haven’t yet seen the proposal.
Various options to fill the gap have been explored but none have been found that would be affordable or feasible. In simple terms this means that until the dispute at Canada Post is resolved we are in somewhat of a holding pattern.
To date CBC Pension Administration Centre (PAC) has received slightly more than 3,000 email votes, well short of the 8,500 we need to have the payment approved by the federal regulator.
Once the dispute is settled the mailout of more than 12,000 vote packages will be sent out. A new deadline for receipt of ballots will be established and the timelines established by the regulator will come into effect. If you’ve already voted online, you will not need to vote again. We urge those who have the ability to vote online to continue to do so.
We realize that many of you are concerned about not having received a confirmation of your vote. That situation should be remedied in the coming days. A process is being developed to notify those who have already submitted their votes via email that their email has been received.
The delay in distribution of the ballots means the timing of the payout cannot be predicted.
At this point, all we can ask for is patience. We will do our best to keep you informed as more information becomes available.