Protecting pensioners from bankrupt companies
CTV Northern Ontario
Published Friday, April 13, 2018 1:55PM EDT
Last Updated Friday, April 13, 2018 2:07PM EDT
Federal NDP MP and pensions critic Scott Duvall is continuing a cross-country tour in support of his “End Pension Theft” campaign.
He is promoting a private member's bill, C-384, which would protect pensioners from losing their money when a company files for bankruptcy.
Duvall was in Sudbury Thursday night.
“This bill is very, very important because in the last 15, 20 years, more pensioners are getting very, very less value from their pensions and we want to make sure that the bankruptcy laws will give an even balance out, not just for investors, but also to the pensioners. So, the use of deferred wages, this is the money that they worked for, and they want to make sure that they get their pensions when they go to retire.” said Duvall.
He was joined by northern Ontario MP's Charlie Angus and Carol Hughes, and both are optimistic this bill will pass.
“I think any Member of Parliament is going to have a hard time explaining to their constituents why they’d put the interests of hedge fund investors ahead of the pension savings of their constituents.” said Angus.
Carol Hughes is the NDP MP for Algoma-Manitoulin-Kapuskasing.
“Tabling a private members bill isn’t just about tabling the bill, even if your number is number two hundred and something. It’s about putting that idea forward. It’s about asking the government to include that into their legislation.” said Hughes.
Duvall launched his campaign in September, consulting with workers and stakeholders from coast to coast to coast.