Resolution would protect pensions

April 19, 2018 · 0 Comments

The Dufferin-Caledon Federal Liberal Association is proud to announce that its policy resolution, “Employee Pension Protection Strategy,” is headed to Halifax for the Liberal Party of Canada’s 2018 National Convention.

The resolution, one of 30 to be discussed and voted on by attendees, calls upon the federal government to close existing loopholes in federal bankruptcy and insolvency law that some companies – most recently, Sears Canada – have exploited to rein in on prior commitments they’ve made to fund employee pension plans.

As a call to action, we believe this resolution reflects the priorities and values of the Liberal movement. It fits squarely in line with our party’s longstanding hopes to realize a fairer economy for Canadians. Employee pensions are deferred pay that belong to workers. When these commitments aren’t met, people’s retirements are put at risk and taxpayers are left on the hook.

Widely rebuked by Canadians as cruel and inexcusable, Sears Canada’s shocking decision to halt severance pay, group benefits and employee pension plans in its liquidation, affecting some 16,000 retirees (all the while, senior management is set to collect $9.2 million in retention bonuses) prompted the riding association to draft a policy resolution in response.

To reach the National Convention, however, our policy resolution had to first receive a high threshold of regional and provincial support. 129 resolutions were submitted by riding associations in Ontario over the course of October last year, but only six could be selected for prioritization.
Throughout this process, we’ve been truly humbled by the breadth of support the resolution has received nationally. In a recent online vote open to all registered Liberals, “Employee Pension Protection Strategy,” was voted most popular of the 39 policy resolutions under consideration. Only 30 out of those 39 resolutions will proceed to the Biennial.

The Liberal 2018 National Convention will run April 19-21.

Ed Crewson
Policy Chair, Dufferin-Caledon
Federal Liberal Association