Pascale St-Onge explains herself to the retirees of Groupe Capitales Médias

Pascale St-Onge explains herself to the retirements of Groupe Capitales Médias

UPDATE DAY

The Federal Minister of Sports, Pascale St-Onge, is in Quebec City today where she is testifying before the Administrative Labor Tribunal regarding the steps taken to prevent the retirees of Groupe Capitales Médias from being amputated from their pension, while she held the position of president of the National Federation of Communications of the CSN. 

With the termination of the pension schemes – a sine qua non condition for allowing the information cooperatives to take over the dailies that had been forced into bankruptcy after the takeover by Martin Cauchon – pensioners lost between 20 and 30% of their pension, in more than their group insurance.  

According to documents filed with Judge Line Lanseigne, Ms. St-Onge took part in the steps aimed at avoiding the worst, in particular by sending a letter addressed to André Desmarais, President and Co-Chief Executive Officer of Power Corporation to ensure the continuity of the plan, at least for a while. 

“Given the prevailing interest rates, it is clear that we are currently experiencing the worst period for ending these plans. Over the years, the solvency deficit should decrease and eventually be eliminated. As plan sponsor, you could choose the time you deem appropriate to proceed with their terminations and thus ensure that the rights of the participants can be paid at 100%”, it is mentioned in this letter that it co-signed on October 30, 2019. 

According to the union adviser on file at the time, Éric Thibault, the response was “an end of inadmissibility”. 

Hearings before the Tribunal continue today with the Minister.  

The pensioners are trying to argue that they were abandoned by their union when the newspapers were transferred to the cooperatives.