On Wed. February 21st, we’re organizing a National Day of Action to Protect Pensioners. Meetings with Liberal MPs’ will take place across the country to demand better legislation to protect pensioners who stand to lose millions when their company becomes insolvent or bankrupt, like Sears Canada, Nortel and many more.
For a list of all regional and local National Day of Action Events, click here.
But to make Liberal MPs feel the heat, we need as many people as possible to show up to the local meeting near them.
Are you in? Click here to RSVP. It takes less than a minute. We’ll follow up with information about the closest meeting happening near you. Please join us!
Let’s make history.
When Sears Canada filed for insolvency, they left their pension underfunded by more than $250 million. Secured creditors like banks and bondholders are in line to be paid out first. The scraps, if any, will be scattered among other creditors; pensioners will be lucky to see pennies on the dollar towards their pension deficit.
This is completely legal under *federal law. That’s why we are calling for changes to the law to put pensioners first – the best solution.
But our Prime Minister has remained silent.
When asked specifically about how to best support Sears pensioners at a recent press conference in Switzerland, he replied: “That’s why Canada has measures like the Canada Pension Plan, like employment insurance benefits – a broad range of ways we can support people who are facing unexpected downturns or layoffs.”
But CPP and EI are NOT solutions. People on pensions don’t qualify for EI. Pensioners were already counting on CPP to supplement their modest pensions. Companies should pay up. No one should lose their retirement security because our laws allow corporations to shirk their debts.
That’s why we’re calling for the Liberal Government to change legislation to protect pensioners.
We’re organizing a National Day of Action on Wed. February 21st. We need your support. Let’s not let our government – or Canadian companies – walk away from pension commitments!
• More than 45,000 concerned Canadians signed our petition to Put Pensioners First;
• More than 4,000 constituents emailed their MPs asking them to put pensions before profits;
• More than 1,400 called their MPs with the same message.
Our Prime Minister is unmoved. So we’re asking you to do more.
We’ve declared a National Day of Action to Protect Pensioners on Wed. February 21st.
On Feburary 21st, concerned citizens will meet with government MPs in their local offices. We have volunteer spokespeople to lead the charge. But we need you to show up to your local meeting and let your MP know you care too. Nothing matters more to MPs than the views of their constituents! MPs will listen because they need YOUR support to get re-elected.
Click “RSVP HERE” now and we’ll send you the details to join in the National Day of Action event closest to YOU!
Don’t let the pensioners pay the price for corporate greed and mismanagement. For more information about, “Why is Super-priority is the best solution?” and other Frequently Asked Questions, visit: www.carp.ca/pensioners.
*CCAC – The Companies’ Creditors Arrangement Act is a federal law allowing insolvent corporations that owe their creditors in excess of $5 million to restructure their business and financial affairs.
*BIA – Bankruptcy and Insolvency Act