PROTECTION FOR PRIVATE DEFINED BENEFIT PENSIONS

19.6.5 PROTECTION FOR PRIVATE DEFINED BENEFIT PENSIONS

WHEREAS Governments at all levels have, in most cases, decreased pension security, and

WHEREAS Any improvements to pension security have been minimal and woefully inadequate, and

WHEREAS There are two levels of legislation in Canada that threaten pension security, pension regulations, and insolvency regulations. Solutions are required at both levels, and

WHEREAS There is a federal election on October 21, 2019,

THEREFORE BE IT RESOLVED That the National Pensioners Federation reaffirm its position that pensions should be 100% protected.

THEREFORE BE IT RESOLVED That the National Pensioners Federation work with its’ partners to make extending super-priority to unfunded pension liabilities in the case of insolvency and full pension insurance priority election issues.

THEREFORE BE IT RESOLVED That the National Pensioners Federation call on the other Canadian pension regulators to implement pension insurance programs that cover 100% of any pension loss.

THEREFORE BE IT RESOLVED That the National Pensioners Federation acknowledge that absent full pension protection, 100% solvency funding of pensions is the only alternative to protect pensioners.

Submitted By the Canadian Federation of Pensioners

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CANADA’S SENIORS POVERTY LINE

19.6.4 CANADA’S SENIORS POVERTY LINE

WHEREAS Measuring poverty is complex because indicators currently used have limitations when related simply to income and market-basket indicators

WHEREAS Nevertheless, poverty among older adults appears to be increasing.

WHEREAS Older adults and their caregivers know better than anyone the challenges faced by older adults who are trying to make ends meet.

WHEREAS Having an official poverty line and robust indicators are essential for poverty-reduction strategies. Without them, it is not possible for a government to set targets, assess the effectiveness of poverty-reduction interventions, and publicly report on the achievement of these targets.

THEREFORE BE IT RESOLVED That the NPF support the McMaster initiative and call for the renewal of seniors poverty line indicators based on the level of education, health status, geographic region, clothing, housing, food security and social inclusion provide a portrait of poverty closer to reality.

BE IT FURTHER RESOLVED The NPF call on and coordinate with older adults and caregivers advocacy organizations to raise this issue at the various levels of government and in poverty studies to develop more relevant, valid and reliable poverty indicators.

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END PENSION THEFT

19.6.3 END PENSION THEFT

WHEREAS Canada’s bankruptcy laws give priority to investors, banks and parent companies over workers’ pensions and benefits; and

WHEREAS Companies in Canada use inadequate bankruptcy laws to effectively gain concessions from employees and escape responsibility for huge pension deficits while workers face reduced pensions and healthcare 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 we call on the federal government to provide legislation protecting the retirement security of hardworking Canadians by amending federal bankruptcy laws so that workers’ pensions and health benefits are given the same consideration as banks, investors or parent companies during proceedings under the Companies Creditors Arrangement Act (CCAA); and

BE IT FURTHER RESOLVED That the National Pensioners Federation call on the Federal Government to level the playing field for Canadian workers during CCAA proceedings so that workers’ pensions and health benefits are given the same consideration as secured creditors.

Submitted by Unifor Local 222 Retired Workers Chapter

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BILL C-27 “AN ACT TO AMEND THE PENSION BENEFITS STANDARDS ACT, 1985”

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

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PRIVATE COMPANIES AND EMPLOYEES’ PENSION RIGHTS

19.6.1 PRIVATE COMPANIES AND EMPLOYEES’ PENSION RIGHTS

WHEREAS We heard that, when Sears Canada declared bankruptcy, employees were denied their pensions or had them greatly reduced while bonuses were being paid to Executives of the Company;

WHEREAS This is so wrong in so many ways, as employees with as much as 30 years of service ended up with no or very small pensions;

THEREFORE BE IT RESOLVED That the National Pensioners’ Federation urges that the Federal/Provincial/Territorial Governments enact legislation requiring that pension funds must be paid into a Trust on a monthly basis;

AND BE IT FURTHER RESOLVED That when a company declares bankruptcy, employee pensions must be paid in full prior to any other funds being paid from the assets of the company.

Submitted by; British Columbia Old Age Pensioners’ Organization

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