Hughes addresses event aimed at protecting pensions

Sudbury –   Algoma-Manitoulin-Kapuskasing MP, Carol Hughes joined NDP MPs Scott Duvall and Charlie Angus at a cross-country tour to meet with workers and stakeholders to discuss Duvall’s legislation that will protect the pensions workers and retirees have earned. The Town Hall meeting was hosted by the United Steelworkers at the Steelworker’s Hall in Sudbury.

“Everyone is here because we believe in fairness and we have seen too many examples of profoundly unfair treatment of employees and their pensions when companies fail,” said Hughes. “And, we are here because we are demanding change in how pension schemes are treated when companies fail.”

New Democrats want to level the playing field for all Canadians and support their retirement security by fixing federal bankruptcy laws so workers’ pensions and health benefits are given the same consideration as secured creditors. 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, who in many cases are often their parent companies.

“We have to remember that at the heart of the issue are people and that, for some, it is not as simple as going out and finding another job,” said Hughes. “Many are long since retired and at danger of not being able to afford long-term care because the pensions they earned were robbed by their employer.  These are the people who must be the priority when company’s flounder. “