Province's pension plan payment waiver panned : vimarsana.co

Province's pension plan payment waiver panned


Winnipeg Free Press
Posted:
THE province calls it a move to help Manitoba employers stay on their feet though the pandemic.
The Manitoba Federation of Labour calls it a "gift" to shareholders at the expense of workers.
The province is temporarily waiving pension plan payments for businesses and non-profits in order to help prevent shutdowns or layoffs, Finance Minister Scott Fielding announced Tuesday.
For the remainder of 2020 and all of 2021, a moratorium will remain in effect to fulfil any defined benefit pension plan funding obligations, required under the Pension Benefits Act or otherwise.
"Many businesses are facing challenges due to the current economic environment and lost revenue due to COVID-19," Fielding said in a news release. "This is another step by the government to protect Manitoba businesses through the pandemic."

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