CFP’s Mike Powell Op Ed : Sears shouldn’t be the ‘business story of the year’

The Canadian Federation of Pensioners (CFP) President, Mike Powell, recently spoke out on the lack of pension protection in federal insolvency legislation across Canada.

Mike’s Op Ed, published in the Toronto Star, points out that while there has been a firestorm of interest generated by the way Sears has treated employees and pensioners, Sears should not have been the Canadian Press Business Story of the Year for 2017. Had governments moved to address weak insolvency legislation during past insolvencies, not only would Sears retirees have been protected but so would retirees from Nortel, Wabush Mines, Indalex, all having their pensions impacted by their employers’ bankruptcies.

The Canadian Federation of Pensioners has long supported extending super-priority status to pension deficits in the event of employer insolvency. This position is supported by CARP and others in Canada.

The CFP has been vocal on advocating for pension protections across Canada for over a decade, and works with governments, policy makers and pension members organization to raise awareness on pension failures and the pension protections needed for all Canadians.

You can read Mike’s editorial in the Star by clicking here.

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CARP and CFP team up on Campaign to Protect Pensions

CARP, in association with the CFP, has launched a new phone campaign. It’s designed to put pressure on Federal politicians of all Political parties to move to change bankruptcy (BIA/CCAA) rules to better protect pensioners when their sponsors get into financial difficulty and enter into  bankruptcy protection. The CARP campaign provides a quick and easy… Continue Reading

CFP’s Bob Farmer OpEd : Coming changes threaten security of Ontario’s pensioners

CFP’s Past President, Bob Farmer, recently spoke out on the upcoming changes to Ontario’s safety net for pensions and how these changes will not offer much more protection for pensioners with underfunded pensions (such as Sears, Nortel or Stelco) than what is in place today. Bob’s timely OpEd, in today’s Toronto Sun, covers CFP’s novel… Continue Reading

CFP Representatives Discuss Pensions on Zoomer TV

CFPs very own Ken Davids , Pat Mousseau, and Mike Powell made guest appearances on Zoomer TV recently, with a scintillating panel discussion on pension (in)security. After the initial broadcast, the video is now available on the web at the link below. Ken, Mike and Pat make excellent points on the lack of real protections… Continue Reading

CFP Outreach to MPPs on Pension Reform

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Advocacy Day is coming Oct 17th!

Background On May 19, 2017, the Government of Ontario shared a preliminary view of their intentions to modify the requirements for Pension Plan solvency funding with the intention, after further consultation and assessment, with the intent of bringing forth legislation as early as this fall. This affects the amount of money that Pension Plan sponsors… Continue Reading

CFP’s Bob Farmer meets with Ontario MPPs on Pension Reforms

On October 4, Bob Farmer, President of CFP, met with a number of MPPs in various meetings, including Teresa Armstrong (MPP-London Fanshawe…and NDP Seniors Critic) and Julia Munro (MPP-York Simcoe and PC Pensions Critic). Bob reviewed CFPs key concerns around Ontario’s proposals for pension reforms advanced by Minister Sousa in May of 2017. Bob discussed… Continue Reading