More than 700 Society members have written to federal Finance Minister Bill Morneau over a bill that would put secure pensions at risk.
Bill C-27, announced without any notice or consultation, would allow employers to entice federally regulated employees, like those at Bruce Power, into giving up their secure defined benefit pension plans in favour of risky target benefit pension plans. While Society members’ pensions are negotiated through their collective agreement, the risk remains. Workers in New Brunswick, where this pension scheme began, have suffered greatly. There is also the likelihood that if the federal government adopts this new pension regime other provinces will follow suit.
Among those who responded to The Society’s call to e-mail Minister Morneau was Toronto-area member A. Katz. “I and my colleagues have worked to build security for ourselves and our loved ones when we are no longer part of the labour force,” Katz wrote. “To allow employers to change the terms of these pensions that we have worked for over the years…to put the financial security and comfort of families at risk is unconscionable, and could lead to more reliance on government programs and subsidies.”
In addition to Society members and leadership, thousands of workers across Canada have heeded their unions’ calls to send their own messages of opposition to C-27. Labour leaders have also held and scheduled meetings with scores of Members of Parliament from coast-to-coast in an effort to raise the profile of this issue within all parties and at all levels.