Advocacy groups say 2019 federal budget fails to safeguard employer pensions

TORONTO — Bill Morneau’s fourth federal budget since the Liberals came to power in 2015 contained a variety of pre-election goodies, including many directed at seniors, when it was tabled last week in a raucous House of Commons.

But a number of advocacy groups say Budget 2019 doesn’t go far enough to safeguard members of private-sector pensions and they’re lobbying all federal parties to include more retirement income protections in their election platforms.

The big item is a new national employer-funded insurance program that would make up for shortfalls of any underfunded pension plans in the event the sponsoring employer goes extinct or can’t pay its retirement benefits in full.

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