It s a highjacking — New Democrats call on feds to protect public education during Save Laurentian University town hall timminspress.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from timminspress.com Daily Mail and Mail on Sunday newspapers.
Try refreshing your browser. Sudbury column: Francophones in the North depend on Laurentian University â Senator Back to video
The communities of Sudbury and all of Northern Ontario have been in shock since Feb. 1, following news of Laurentian Universityâs insolvency and the restructuring process it undertook by invoking the Companiesâ Creditors Arrangement Act.
This is nothing short of a Canadian first for a public institution. On April 12, the university announced the results of its cold accounting examinations with human disregard.
The axe has fallen â 28 French-language programs have been eliminated; more than 100 teachers have lost their jobs (some have even been deprived of their maternity leave); and they could see their pensions sharply reduced. The loss to students, teachers, staff and the entire community of northern Ontario is immeasurable.
Sudbury column: Francophones in the North depend on Laurentian University — Senator saultstar.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from saultstar.com Daily Mail and Mail on Sunday newspapers.
Retiree group says Liberal budget fails to support pension reform
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Government of Canada public pensions web page is shown on Tuesday, January 9, 2018. A national group representing about 300,000 pensioners says the new federal budget fails to mention reforms that are necessary to protect people with defined benefit retirement plans sponsored by employers. THE CANADIAN PRESS
TORONTO – The Canadian Federation of Pensioners is calling for amendments to federal insolvency laws to protect members of defined benefit pensions if the employer is insolvent.
The federation, which represents 23 retiree groups with a total of about 300,000 members, renewed its call for legislative changes after the federal budget failed to mention the issue on Monday.
The federal government controls Canada s insolvency laws and could use them to protect people with defined-benefit pensions, which are supposed to be guaranteed by the employer, CFP president Michael Powell said Tuesday.
Canada s insolvency laws should give pensioners priority over other creditors if a plan is in deficit and the sponsor is insolvent, he said
Private member s bills C-259 from New Democrat MP Scott Duvall and C-253 from Bloc Quebecois MP Marilene Gill are similar proposals that Powell said he supports. They re somewhat different. But the core component of each is identical, which is extending super priority to the unfunded pension liability in insolvency, Powell said in a phone interview.