"Such an agency would ease the concerns of many Canadians. People are
entitled to a decent, worry-free retirement."
LAVAL, QC, April 1 /CNW Telbec/ - The Teamsters Union is especially intrigued by the Liberal Party of
Canada's proposal to create a stranded pension agency. According to the
Liberals, this agency would be formed "to offer Canadians a new, secure
way of managing their private pension following the bankruptcy of their
employer." Such an agency would meet the demands formulated by
Teamsters Canada in 2008 in connection with the Flextronics/Nortel
At this time the Flextronics plant had shut its doors, putting 800
people out of work. A legal battle ensued between Flextronics and
Nortel, the plant's former owner, to determine which company should be
held liable for the workers' pension plans. That's when the Teamsters
Union took position in favour of protecting pension plans.
The Teamsters Union is not a newcomer to this issue: Teamsters Canada
representatives have been participating for a number of years on
various federal committees put together to ensure viable pensions for
The Teamsters Union has asked the government to amend the Bankruptcy and Insolvency Act to include workers as preferred creditors and to enact legislation on
foreign takeovers of Canadian companies, requiring employers to respect
the collective agreements binding them to their new workers.
"In my view, such an agency would ease the concerns of many Canadians,"
said Teamsters Canada president Robert Bouvier. "People are entitled to
a decent, worry-free retirement."
The Teamsters Union represents 125,000 members in Canada in all trades.
The International Brotherhood of Teamsters, with which Teamsters Canada
is affiliated, has 1.4 million members in North America.
SOURCE TEAMSTERS CANADA
For further information:
Stéphane Lacroix, Director of Communications, Teamsters Canada
Office: 450-682-5521 x236