Canadian auto workers gave up defined benefit pensions in return for a GM commitment to invest hundreds of millions of dollars in the Oshawa Ontario plant.

The deal averted a strike and eased worker fears about a possible closing of the Oshawa plant after 2019.

Current workers will keep their pension plans but new hires will no longer have defined benefit pensions. They will instead get defined contribution pension plans.

Unifor, the union representing auto workers in Canada, says giving up those pension plans for new hires was worth a deal that got jobs at good wages with job security.