MP Scott Duvall of Hamilton Mountain, NDP pensions critic, at a town hall on pension protection at Ciaciaro Club, Oldcastle, November 14, 2017. Photo by Mark Brown/Blackburn News.MP Scott Duvall of Hamilton Mountain, NDP pensions critic, at a town hall on pension protection at Ciaciaro Club, Oldcastle, November 14, 2017. Photo by Mark Brown/Blackburn News.
Windsor

Local MPs Push For Pension Protection

Local MPs are calling for better protection for pensioners, such as Sears Canada employees whose pensions are currently in limbo as the company closes its stores.

Windsor-West MP Brian Masse, Essex MP Tracey Ramsey and Windsor-Tecumseh MP Cheryl Hardcastle hosted a meeting at Tecumseh's Ciaciaro Club on Tuesday, to discuss private members' Bill C-384, which aims to give prioity to pensioners in the event of employer bankruptcy. Around 200 people filled a banquet room to hear about the proposed legislation, which was introduced on November 6 by NDP MP Scott Duvall of Hamilton Mountain, who is the NDP pensions critic.

Duvall rose in the House of Commons to introduce the bill on November 6, in light of Sears Canada's benefit pension plan shortfall, which has left many employees expressing concerns over what happens to  their pensions.

"When [companies] do go bankrupt, assets don't go in to top up these funds so that your pensions are funded wholly. They go to corporate insiders, they go to other creditors," says Hardcastle. "Pensioners are at the bottom of the list."

Bill C-384 would specifically amend the Bankruptcy and Insolvency Act and the Companies’ Creditors Arrangement Act to ensure that claims, pertaining to unfunded liabilities or deficiencies of a pension plan, are given priority in the event that a company goes bankrupt. It also ensures employers have to maintain group insurance programs that provide benefits for its employees or former employees.

Masse says pensions are an integral part of the local economy.

"The reality in Windsor-Essex is deferred wage of pensions is not only good for those individuals, but is good for our community," says Masse.

-With files from Mark Brown

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