Preparations are being made for a possible postal strike as early as May 24, the Canadian Union of Postal Workers says.

The union said in a statement Wednesday that it and Canada Post remain far apart on many issues, including wages for new employees and a proposed sick plan that it says is inferior. Negotiations are still ongoing, however.

The union will be able to exercise its right to strike and Canada Post its right to lock out at midnight on May 24. Both sides have to give three days notice of their intention to strike or lockout. The collective agreement expired on Jan. 31.

Cheques for pensioners and social assistance recipients will still be delivered regardless, the union said.

Volunteers from the union will deliver federal Canada Pension Plan, Old Age Security and child benefits cheques, as well as provincial social assistance cheques in Quebec, Ontario, Saskatchewan, Alberta and the Northwest Territories.