WHEREAS Bill C-27, an Act to amend the Pension Benefits Standards Act, represents a dangerous and immediate attack on future and current retirees and defined-benefit (DB) pension plans, and sets up a framework for target-benefit (TB) pension plans in the federal private sector; and
WHEREAS Bill C-27 invites employers and other plan sponsors to abandon their pension promises to employees and retirees, and allows employers to persuade individuals to surrender their earned DB plans in exchange for less secure, less stable TB plans, thus downloading virtually all risks brought on by market volatility to workers and retirees; and
WHEREAS Bill C-27 will leave employees at the mercy of employers who want to back out of their pension commitments,
THEREFORE BE IT RESOLVED that the National Pensioners Federation (NPF) continue to work with the Canadian Labour Congress, the Congress of Union Retirees of Canada, the BC Retired Teachers Association, our allies and union affiliates to oppose Bill C-27, an act to amend the Pensions Benefits Standards Act and,
BE IT FURTHER RESOLVED that the NPF continue to educate members and the public on the dangers of Bill C-27.
Submitted by BC FEDERATION OF RETIRED UNION MEMBERS (BC FORUM) and CONGRESS OF UNION RETIREES OF CANADA