MP invites public to discuss pension theft

Gord Johns says Canada’s bankruptcy laws are inadequate

  • Feb. 10, 2018 11:30 a.m.

Courtenay-Alberni MP Gord Johns invites the public to join him and NDP Pensions Critic, MP Scott Duvall, for a conversation about pension theft at the Filberg Centre in Courtenay, Wednesday, Feb. 21 at 7 p.m.

“Canadians rely on their pensions so they can retire with security and dignity,” Johns said. “When large corporations fail, they are able to use Canada’s inadequate bankruptcy laws to use money meant for employees’ pensions to pay off wealthy CEOs, banks and investors.”

New Democrats are calling on the Liberal government to protect pensions and health care benefits of employees and retirees through amendments to Canadian bankruptcy laws.

“The pensions earned by workers from companies like Sears Canada are deferred wages, plain and simple,” Duvall said. “Diverting, withholding or seizing those funds should be illegal.”

Sears Canada filed a motion asking to suspend $3.7 million worth of monthly payments to its pension and post-retirement benefit plan after it declared bankruptcy last July.

The Feb. 21 town hall will begin with a presentation by Duvall, after which the floor will be opened for questions, comments and discussion.

“Everybody is welcome,” Johns said. “Come early for a good seat, there is a lot of interest in this issue in our communities.”

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