Protection for Private Defined Benefit Pensions

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