November 30, 2016 at 8:30 AM
Back in 2015, the conservative government's proposed target benefit plan (TBP) framework was shelved because of the efforts of our members who wrote letters and petitioned their members of parliament.
Local 2002 President Cheryl Robinson thanked Local 2002 members but warned that the fight wasn't over.
It's not --- and we need your help.
On October 19, 2016, Bill C-27, An Act to amend the Pension Benefits Standards Act, 1985, was quietly introduced in the House of Commons. Bill C-27 will allow federal employers with defined-benefit (DB) pension plans to rid themselves of the legal obligation to deliver promised and already-earned benefits.
Under C-27 workers and retirees could see their accrued defined benefit pensions converted to target benefit pensions (TBP). The conversion could lead to reductions of current and future pension payments as it would shift virtually all financial risk from the employer to plan members. Even retiree pensions could be reduced!
When the Harper government proposed a similar pension grab, Justin Trudeau promised in writing that "[Defined Benefit Pensions] which have already been paid for by employees and pensioners, should not retroactively be changed into TBPs."
Now, that the Liberals are in power, they have turned their backs on federally regulated workers and retirement security.
A target benefit pension plan is a big gamble, shifting the financial risk from the employer to employees and pensioners.
Don’t let the federal government roll the dice on your future.
TAKE ACTION NOW!
Email Finance Minister Bill Morneau and your own Member of Parliament to demand the withdrawal of Bill C-27.
/16-11-30 Stop Bill C-27 HTML en rev.txt