NDP

April 25th, 2019

Chamberlin stands up for pensioners as Liberals break promise on reform

In the wake of the Trudeau government’s decision to break its promise to protect pensions when companies go bankrupt, NDP candidate Bob Chamberlin says it’s crucial for Nanaimo-Ladysmith voters to send Ottawa a strong message in the May 6 by-election.

“The Liberals have let us down and the Conservatives would make things even worse for pensioners,” said Chamberlin. “Your vote in this by-election is a chance to tell Ottawa that corporate elites shouldn’t get special treatment at the expense of working people and retirees.”

Over the weekend federal Minister for Seniors Filomena Tassi confirmed with CBC News that the Liberals will not enact legislation to move pensioners up the creditor priority list when companies go bankrupt.

The federal government has been under fire to change the laws since thousands of retirees lost up to 30 per cent of the value of their pensions when Sears Canada went bankrupt. To make matters worse, Sears executives awarded themselves more than $9 million in bonuses before the company failed.

“After years of empty promises, the Liberals finally admitted they have no intention of making Canadian workers and pensioners a higher priority than the people at the top of the corporate ladder,” said Chamberlin.

“The NDP is fully committed to protecting pensions for workers in the case of bankruptcy or insolvency. We would change bankruptcy laws so that pension plans are fully funded. We would end the days where corporate bosses give themselves huge bonuses while pensioners pay the price.”