In 1998, the Retail Meat and the Retail Clerks Industry Pension Plans merged and became the UFCW Union Pension Plan. UFCW members employed by Overwaitea, who had not been covered previously by the two industry pension plans, entered into the UFCW Union Pension Plan around that same time.
The UFCW Union Pension Plan is a jointly trusteed pension plan. This means that the Plan is managed by Trustees - some appointed by the employers, some by UFCW Local 247 and some by UFCW Local 1518. There is a Trust Agreement setting out the Trustees' duties and responsibilities.