Algoma-Manitoulin-Kapuskasing MP, Carol Hughes joined fellow party MPs Scott Duvall and Charlie Angus at a cross-country tour to meet with workers and stakeholders to discuss Duvall’s legislation, which would protect pensions workers and retirees have earned.
Hughes says there have been too many examples of unfair treatment of employees and their pensions when companies fail and they are demanding change in how pension schemes are treated when companies fail.
Under current legislation, large multinational corporations are using Canada’s inadequate bankruptcy laws to take money meant for workers’ pensions and divert it to pay off their secure creditors, which in many cases are often their parent companies.
New Democrats want to level the playing field by fixing federal bankruptcy laws so workers’ pensions and health benefits are given the same consideration as secured creditors.
The town hall meeting was hosted by the United Steelworkers at the Steelworker’s Hall in Sudbury last night.