Teamsters Canada fighting for Pension Reform
Published: April 28th 2009Source: Teamsters Canada
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Teamsters Canada appeared before the House Committee on Finance to discuss Pension Reform on April 23rd. We made our position very clear. After 40 years of Regulation and more than a decade of unprecedented economic growth, it is unforgivable that there is a pension plan crisis in Canada.
Unlike companies seeking further deregulation, we are supporting
greater controls on pension because nothing will change unless
fundamental change to the regulatory regime underpinning pension are
made; changes that support pensioners and workers, and stop
corporate greed.
It is time to recognize that pensions are foregone wages, a contract
between the company and a worker. The regulations do not recognize
this relationship nor protect it. The only reason for a pension plan
to exist must be to deliver promised pensions to current and future
retiree members of the plan. Company fiduciary duty must mean a
fiduciary duty where beneficiaries are placed first - no payment
holidays or surplus claw backs.
We have already met with six Members of the House Committee on
Finance to further our lobbying efforts. Most recently, Mr. Mike
Wheten, National Legislative Director Teamsters Canada Rail
Conference, and Phil Benson, Lobbyist Teamsters Canada, met with Mr.
John McKay, MP Scarborough East, in the Lobby of the House of
Commons. It was a good discussion of the topic, and Mr. McKay was
certainly sympathetic to the problems that surround pension plans.
We
Need Your Help!
At this time it would be very helpful if each member contacted
Ted Menzies, Secretary to the Federal Finance Minister Jim Flaherty.
It would help if TCRC members contacted their MP.
Click here to enter in your postal code to get your Member of
Parliament.
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