Working people have the right to retire from their job with dignity and security.
Today, that right is under threat.
The global financial crisis has wreaked havoc on our economy. Not only has the recession resulted in hundreds of thousands of lost jobs, it threatens the funding and future viability of workers’ pensions.
The CAW Pension Charter states that all Canadians must be able to comfortably enjoy their retirement, and a decent standard of living without risk of poverty.
Governments must do everything in their power to protect all pensions. Since they set the funding rules for both public and private pension plans, they must also guarantee a safety net for those faced with insufficient funding.
The Ontario government has indicated its Pension Benefit Guarantee Fund is ill-equipped to handle the pension shortfall suffered by workers in the face of major corporate bankruptcies in the province and hasn’t committed to backstopping the fund to cover its pension obligations.
Workers need protection NOW!