BC FORUM News - from the Canadian Federation of Pensioners May, 2022 TAKE ACTION TODAY!
PENSIONERS DESERVE PROTECTION We’ve all heard heart-wrenching stories from people whose pensions were reduced when companies like Nortel and Sears became insolvent. Since 1982, some 250,000 vulnerable Canadian seniors have had their pensions reduced for the rest of their lives. Please act now. Click HERE and let your MP, your Senator, and the government know that vulnerable seniors are no longer acceptable collateral damage in insolvency. Your pension may be well funded now, but that doesn’t mean your pension is secure. People count on their pension for decades of retirement, and a lot can change in that time. In the 2008 financial crisis overall Canadian pension solvency dropped 30% in less than one year. Companies are most likely to file for insolvency when pension solvency is lowest. Ask yourself how a 30% reduction in pension income would impact your life. Even if you don’t have a single employer-defined benefit pension, pension protection is still important to you. You may have no pension, an annuity, be a member of a multi-employer plan, a jointly sponsored plan, or a government pension, but you should still be interested in supporting pension protection. Simply put, if pensioners receive the pension their former employer committed to, they will be much less likely to require assistance from taxpayer-funded services. Pension protection does not require any taxpayer dollars. We just need our Parliamentarians to work together to protect vulnerable pensioners. An email will be sent, under your name, to your MP, the Senator(s) from your province or territory, and key government ministers. Thank you Michael Powell President Canadian Federation of Pensioners | 
