Canadian Pacific says striking workers have more generous pensions than most

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CALGARY - Canadian Pacific Railway says the pension offer it is making to the union representing some 4,800 striking employees is better than that provided in the rest of the rail industry.

The railway operator says the Teamsters union representing employees at other railways has agreed to the same provisions it is asking from its own workers.

CP Rail (TSX:CPR) says a Teamsters member working as a road locomotive engineer can have maximum pension in 2012 of more than $92,600.

But Teamsters says no CP unionized employee actually earns that cap, calling the figures provided misleading.

A Teamsters spokesman questions why management is spending time to put out such figures rather than focusing on the ongoing negotiations.

Labour Minister Lisa Raitt has said the government is prepared to introduce back-to-work legislation as early as Monday if CP and the Teamsters Canada Rail Conference can't reach a deal.

Organizations: Canadian Pacific Railway, CP Rail, TSX

Geographic location: CALGARY, Canada

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