If we allow employers to retroactively change pension deals, what’s next?
In October 2016, the federal government introduced Bill C-27. This legislation would allow employers to change employee pension plans, even after they have retired.
Pensions are deferred compensation, and employees have already provided their services in exchange for them.
Not honouring pensions is wrong and unfair: a deal is a deal.
What recently happened to Sears employees pensions is shameful – but, unfortunately, not uncommon. Big banks and high-paid executives are first in line when a company goes under, not employees and pensioners.
Bill C-27, if passed, will allow employers to change employees pension plans too – even if the company isn’t in financial trouble. This legislation isn’t just unfair, it’s dangerous – if we allow employers to retroactively change pension deals, what’s next?
Furthermore, the Finance Minister introduced Bill C-27 and has received paycheques from an organization that has lobbied for this legislation and stands to profit from it. While he has technically been cleared of conflict of interest allegations, who is really going to benefit from this legislation?
The National Association of Federal Retirees is fighting this legislation – but we need your help.
Since this legislation was introduced last fall, we have sent thousands of letters and set up dozens of meetings with MPs, demanding that they defeat this bill and honour their promise to pensioners. For over a year, Bill C-27 has been stuck in the mud.
It’s time to focus our efforts and push this government to ditch this dangerous legislation.
Are you in?