FTQ and CSQ worried about the board of Retraite Québec

Central unions are concerned regarding the loss of worker representation on the board of directors of Retraite Québec. They fear that the appointment of independent directors to replace them poses a problem of credibility and is subject to partisanship.






© Provided by The Canadian Press


It all stems from Finance Minister Eric Girard’s Bill 4, which strengthens the governance of government corporations. It aims in particular to increase from 23 to 46 the number of companies that will be covered by these rules relating to transparency, the composition of boards of directors, remuneration, the requirement of gender parity, for example.

However, the number of worker representatives on the board of directors of Retraite Québec will decrease in favor of independent directors, deplore the FTQ and the CSQ.

The two centrals point out that Retraite Québec’s mandate is to manage the Quebec Pension Plan and administer the government employees’ pension plan called RREGOP — subjects that are of direct interest to workers.

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The FTQ and the CSQ are wondering regarding the future independent members who will be appointed by the government.

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“The proposal made that they be appointed without consultation by the Government of Quebec raises considerable problems of legitimacy and credibility”, protests the CSQ in its opinion on the bill.

“We are getting dangerously close to the” post-it “identifying the political allegiance of candidates for the post of judge, under the Liberal reign”, launched the secretary general of the FTQ, Denis Bolduc.

The FTQ fears that the bill “will contribute to withdrawing from the participants of pension plans, active or retired, the control of the decisions which concern them to the benefit of experts and members of the pension fund industry or of persons who have interests that conflict with the organization’s mission,” the central wrote in its brief.

Minister Girard, for his part, pointed out that his bill aimed to improve the governance of government corporations, strengthen transparency and implement the best management practices.

He also wants to increase the presence of women and young people on these boards of directors — which was applauded by the stakeholders during the specific consultations on his bill.

Other aspects of his bill have also been welcomed by many, such as the distinction between the positions of CEO and chairman of the board of directors, as well as the desire to demonstrate greater transparency.

Lia Lévesque, The Canadian Press

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