EDMONTON, May 1, 2014 /CNW/ - The Alberta government plans to create
loopholes in private pension plan legislation that threatens to reduce
incomes for tens of thousands of seniors, says Canada's largest union
in the private sector. The changes introduced in Bill 10 came without
any notice or consultation.
"Cheating seniors out of pensions that they financed over their lifetime
is a new low for the Conservative government," said Joie Warnock,
Unifor's western director. "Unifor will not stand by while vulnerable
Albertans are treated this way."
Bill 10, titled "Employment Pension (Private Sector) Plans Amendment
Act", creates new loopholes that will let corporations evade their
responsibilities to their retired employees. Among the proposed changes
to private pensions, it enables employers to switch "defined benefit"
plans to "target benefit" plans without the consent of retirees.
"The government is breaking a promise with seniors. Seniors help build
this province, and they've earned their pensions with hard work," said
Warnock. "Their pension funds are sustainable. All this bill does is
guarantees bigger profits at the expense of retirees."
Unifor was founded Labour Day weekend 2013 when the Canadian Auto
Workers and the Communications, Energy and Paperworkers unions merged.
With 16,500 members in Alberta and more than 305,000 members across the
country, Unifor is Canada's largest union in the private sector.
For further information:
please contact Unifor Communications Representative Ian Boyko at 778-903-6549 (cell) or Ian.Boyko@unifor.org