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Pensions

Conservative

  • Ensure pensioners have priority over shareholders & executives during bankruptcy or restructuring.
  • Prevent executives from being paid bonuses while restructuring if the pension plan isn't fully funded.
  • Stop forcing underfunded pension plans to be converted into annuities.

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NDP

  • Make unfunded pension liabilities owed to workers, & employees' severance pay, are the top priority when a company goes bankrupt.
  • Prevent companies from paying dividends & bonuses when pensions are underfunded.
  • Create a mandatory, industry-financed pension insurance programme.
  • Create a Pension Advisory Commission to develop a long-term plan to enhance Old Age Security, GIS, & CPP.

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Green

  • Amend pension benefit legislation for federally-regulated pensions to maintain pension plan solvency.
  • Introduce a refundable tax credit equal to the amount of pension loss an individual incurs when a pension fails, as a temporary measure.
  • Enable the creation of a Distressed Pension Facility during corporate insolvency.
  • Establish super-priority of pensioners & pension plans in creditor hierarchy during insolvency proceedings.

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