April 2019: New mini tool-kit available for consumers to use when advocating for pension protection and improved financial measures for older Canadians.
While CARP was supportive of the inclusions of many of its recommendations that were reflected in the 2019 Federal Budget, many advocacy efforts were unaddressed. The government’s failure to protect defined benefit pensioners in the event of corporate insolvency was extremely disappointing, and will remain high on CARP’s advocacy agenda in the coming months. Two new resources are available to help individual Canadians do the same.
Share this template and encourage others to write a letter to your MP and local party candidates demanding protection of defined benefit pension plans.
Canadian seniors have worked hard all their lives and deserve to have their pensions protected. We are calling on Prime Minister Trudeau and his government to protect the 1.3 million Canadians with defined benefit pensions in the event of bankruptcy.
On August 1st, Sears Pensioners outside of Ontario took a 30% cut in their pensions. That is after all pensioners lost their health and dental benefits. One month later, the court-appointed monitor recommended that the limited assets that remain would not be used to pay out Sears pensioners ahead of other creditors. Sears pensioners were left high and dry.
Other G7 countries, including the U.K and the U.S. provide better pension protection than Canada.
Pensioners deserve to have their retirement secured. It’s time for the federal government to take action and protect pensioners now.
Click the button below to use our new tool to email your MP now!