"Assuming these figures are correct, it's not hard to see why these car manufacturers want to negotiate away defined-benefit pension plans for their Canadian workforce.... The problem is that while it makes perfect sense for companies to offload retirement risk onto workers, it makes absolutely no sense for workers. They are right to be fuming over these proposals as it will lower their standard of living and increase their retirement angst. And longer term, such shortsighted measures will reduce productivity in an already ailing industry."

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