19.6.2 BILL C-27 “AN ACT TO AMEND THE PENSION BENEFITS STANDARDS ACT, 1985”
WHEREAS Bill C-27 “An Act to amend the Pension Benefits Standards Act, 1985” by Finance Minister, the Honourable Bill Morneau, with the intention of permitting federally-regulated employers to walk away from the pension promises they have already made to workers, changing their Defined Benefit Plans to Target Benefit Plans so that the employee cannot, with any accuracy, forecast the amount of pension they can depend on receiving at retirement;
WHEREAS Some Provincial Governments have already looked at introducing similar legislation to permit provincially-regulated employers to walk away from pension promises made and reducing pension benefits;
WHEREAS If this Bill is not approved in the current session of Parliament, it will die on the order paper with the upcoming elections in October, 2019; WHEREAS This Bill can be re-introduced with a different Bill number when a new parliament resumes after the October elections;
THEREFORE BE IT RESOLVED That the National Pensioners’ Federation urgently requests that the Federal Government withdraw Bill C-27 “An Act to amend the Pension Benefit Standards Act, 1985” immediately.
Submitted by; British Columbia Old Age Pensioners’ Organization