Denis Marquis - President of BPG has formally wrote to each of the federal political party
leaders seeking their party’s commitment to a policy platform that would bring an increased
measure of security to private defined benefit pension plans in Canada.
In these letters, Denis identified two key areas requiring immediate federal action, namely:
The purpose of this summary is to provide our members with the positions of parties on these
issues, as stated in their responses to Denis’ letter and/or in their party platforms.
To date we have received replies from the NDP and the Green parties.
Specifically with respect to issue 1, the NDP letter states:
“…we’ll create a mandatory, industry-financed pension insurance program to make sure
that no worker is deprived of the retirement benefits they’ve earned.”
and with respect to issue 2:
“… we will make sure that pensioners are at the front of the line when a company goes
bankrupt – making sure unfunded pension liabilities owed to workers, and employees’
severance pay, are the top priority for repayment.” [emphasis added]
Here is the link to the party’s website (as we cannot locate a platform per se):
The Green party letter does not address issue 1, but with respect to issue 2, states:
“The Green Party will give pension debts priority during insolvency proceedings by a
company, making cash owed to the pension fund and existing pensioners the first to be
paid out over other creditors.” [emphasis added]
Here is the link to the party’s platform:
Other Parties’ Positions
The Bloc Québécois has not responded to Denis’ letter, but its platform supports our issue 2.
The Bloc’s platform, available at:
“Les travailleuses et travailleurs du Québec méritent de profiter de leur retraite en
sécurité. Le Bloc continuera de travailler à faire des caisses de retraite des créanciers
prioritaires en cas de faillite d’une entreprise.” (item 44),
which translates as:
“Quebec workers deserve to enjoy their retirement safely. The Bloc will continue to work
to make pension funds priority creditors in the event of the bankruptcy of a company.”
The Liberal Party has not responded to Denis’ letter, but other correspondence from the party
closely aligns with its published platform, which does not address our two issues:
The People’s Party has also not responded to Denis’ letter, nor does its published platform
address our two issues:
The Conservative Party has neither responded to Denis’ letter nor published its platform.