EDMONTON — The Public Service Alliance of Canada (PSAC) is urging PSP Investments to order subsidiary Revera Inc. back to the bargaining table at Riverbend and offer staff “appropriate compensation” to end the 51-day strike.
“The PSAC stands in solidarity with the workers at the Revera Riverbend Retirement Residence, and calls for a quick resolution to this labour dispute,” said Chris Aylward PSAC National Vice-President.
“I am encouraged to see that the strike situation Revera created is gaining national attention and support, and the federal pension fund that owns Revera being called to account by its beneficiaries,” said Guy Smith, President of the Alberta Union of Provincial Employees, which represents the employees on strike.
PSP Investments is the 100-per-cent owner of Revera Inc. and steward of $64.5 billion worth of pension assets for Federal Public Service (including 140,000 PSAC members), as well as the Royal Canadian Mounted Police, and the Canadian Forces.
In a letter to PSP Investments CEO Gordon Fyfe, Aylward called for a resolution to the strike “as soon as is reasonably possible for the strike employees involved as well as the residents of Revera Riverbend.”
PSAC believes the strike creates an unnecessary financial risk to Revera, which is an asset of the pension fund.
“From the perspective of the PSAC, this situation also presents possible long-term consequences for members who contribute to the Federal Public Service Pension Fund,” Aylward wrote.
“The conduct of Revera Inc. in this regard would appear to the PSAC membership to be inconsistent with the legal and fiduciary obligations of PSP Investments to the participants and beneficiaries of the Federal Public Service Pension Plan.”
For more information, contact:
Guy Smith, President, AUPE — 780-930-3301 or 780-265-2294 (cell)
Mark Wells, Senior Communications Advisor, AUPE — 780-930-3311
Shelina Merani, Communications officer, PSAC 613-293-9324 (email@example.com)