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A worthwhile trip east for Liberals

April 27, 2018   ·   0 Comments

IT WILL BE INTERESTING, indeed, to see whether the Trudeau government will take the action demanded in a resolution with local roots that was passed by last week’s Liberal convenstion in Halifax.

One of 129 proposed by local riding associations and among a handful that reached the convention floor, the Dufferin-Caledon riding association’s resolution dealt with the current insecurity of pension funds.

A press release explaining the proposal stated: “As official party policy, the federal government is called upon to consult with relevant stakeholders, consider options, and close the existing loopholes in federal bankruptcy and insolvency law that companies like Sears Canada have used to rein in on commitments they’ve made to fund employee pension plans.”

The Sears Canada failure exposed problems with defined benefit pensions, pension regulations and weaknesses in the federal acts governing bankruptcies and creditor protection applications.

Pensioners are asking why fixes weren’t made long ago, considering that the financial collapse of Nortel in 2009 left 20,000 pensioners in the lurch.


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