CALGARY – A former Calgary letter carrier says she feels like Canada Post is holding her money hostage.
Dominque Fraser quit working at Canada Post last fall, and then decided to transfer a lump sum out of her pension, in part to help her start a new business.
After submitting all her paperwork, she received verbal confirmation she would be getting a cheque.
Then, abruptly at the end of January, Canada Post informed plan members they can no longer transfer money out of their pensions.
The pension fund is running a multi-billion dollar deficit.
Canada post received four years funding relief from making special payments, but only if it stopped allowing members to pull their money out.
“You feel lied to a little bit,” explains Fraser. “You feel like, wow, you’ve put in all this time and money and they say this, but now they’ve changed the way they’re operating… and it just doesn’t seem right.”
In a statement, Canada Post says they “did not receive advance notice. Their direction was clear that it was effective immediately and did not allow for notice.”
“Any completed paperwork requesting a lump sum transfer received from employees prior to this restriction was accepted.”
Fraser says the final piece of paperwork she mailed via Canada Post took nearly a month reach its destination, and didn’t arrive until one week after the deadline.
Had she known it would take so long, Fraser said she would have sent it by courier.
She adds she is considering an appeal.
The restriction on transferring out money doesn’t apply to employees reaching retirement eligibility, and monthly payments to Canada Post retirees will continue.
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