CANADIAN COMMERCIAL WORKERS INDUSTRY PENSION PLAN
CCWIPP (pronounced quip) was founded in 1979 and is Canada's largest private sector multiple-employer pension plans.
The plan provides pension benefits to 290,000 current and former members of the United Food and Commercial Workers (UFCW) union who work for 328 participating employers.
The plan is jointly governed by eight trustees, four appointed by the union and four appointed by employers such as Canada Safeway, Loblaws, A & P and Metro Richelieu.
Employers contribute approximately $108 million annually to the plan, in accordance with collective bargaining agreements negotiated with UFCW.
A large proportion of plan members work part-time.
Employees do not contribute to the plan.
The plan currently has assets of more than $1.4 billion and since inception has earned an average annual rate of return of 8.97 percent.