Day of Action to Protect Pensioners Newfoundland & Labrador
February 21st, 2018, has been declared by CARP, CARP NL, the Coalition of Newfoundland and Labrador Pensioners, Seniors, and Retirees Associations, the Canadian Labour Congress NL, the Newfoundland and Labrador Public Sector Pensioners’ Association, and the Canadian Federation of Pensioners and its various supporting organizations as a National Day of Action to Protect Pensioners.
Pensions are deferred compensation. They are earned long before a company begins the spiral into restructuring or bankruptcy. Pensions are a commitment made by the company and regulated by governments. Support is being sought to extend super-priority status to pension deficits, moving pensions from the back of the line to the front. While super-priority may not be a perfect solution, it is a good solution providing protection for the vast majority of pensioners across the country with a reasonable straightforward legislative change. It is a solution that does not leave taxpayers to foot the bill.
On Wednesday, the 21st February, at 2:00 PM, at the St. John’s Retired Citizen’s Association Club on Bennett Avenue, a meeting has been called with MP’s Nick Whalen, Ken McDonald, Churence Rogers, and Seamus O’Regan to seek the support of our local Members of Parliament to support legislative change that will better protect pensioners through super-priority.
The Sears catastrophe has set off a firestorm of interest in the lack of pension security, but Sears is not unique. Here at home, we have seen companies leave their pensioners in the lurch, such as Wabush Mines and Abitibi in Grand Falls, creating family hardships and putting taxpayers on the hook for increases in social service costs. This is unacceptable. Corrective action is required and our MP’s can be our voice on this matter.
Join us on February 21 at 2:00 PM at the Retired Citizens Club on Bennett Avenue and let your voice be heard.