18.8.4 PROTECTION FOR PRIVATE DEFINED BENEFIT PENSIONS
WHEREAS recently Sears, but over time many companies have entered insolvency and legally been able to reduce pension payments , and
WHEREAS as illustrated by the CCPA study “The Lion’s Share” Canadian companies have the capacity to fully fund their pensions, 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,
THEREFORE BE IT RESOLVED that the National Pensioners Federation call on the federal government to extend super-priority to the unfunded pension liability in insolvency, and
BE IT FURTHER RESOLVED that the National Pensioners Federation call on the Canadian pension regulators to implement pension insurance programs that cover 100% of any pension loss.
Submitted By the Canadian Federation of Pensioners