CFP’s Mike Powell Proposes Pension Protections at 2018 Liberal Nat’l Conference

This year’s Liberal 2018 National Convention was held in Halifax April 19-21.

An important part of that convention is setting key policy priorities for the Federal Liberals for the next eight years.

Protecting pensions in insolvency was one of the many policies proposed that was under consideration. After much debate it was voted in the top five of all of the policy proposals.

Mike Powell, CFP’s President was there.

Introducing the Pension Protection policy proposal to the 3,000 delegates at the convention, Michael, who was also acting as spokesperson for the four Ontario regions that sponsored the policy proposal, went to the core of the issue.

Mike pointed out the real world impact of the lack of Pension Protections.

“Anyone here who is willing to take a 40% reduction in their income from this day forward, for the rest of their lives, please stand up … No one? How about 20%? Obviously there are no Nortel or Sears pensioners here and you will all support the Pension Protection proposal”.

Powell has further commented that he hopes the Liberal caucus and government move quickly on this issue to ensure there is not another Nortel, Wabush Mines, Indalex, Sears.

Mike went on to say

“The Canadian Federation of Pensioners, CARP, the Canadian Labour Congress, the National Pensioners Federation all support extending super-priority for unfunded pension liabilities in insolvency as does this proposal. It is time to move pensioners from the back of the line to near the front”.

 

Here’s the video of Mike’s presentation:

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