Ottawa introduces pension reforms

[CHIMO]

OTTAWA– The Harper government is moving to do what it can to address the growing pension crisis.

Finance Minister Jim Flaherty today announced plans to reform federal private pension legislation to enhance protection for pensioners--many of whom are wondering if they will be able to collect their pensions when they retire.

"Our Government has listened carefully to Canadians," Flaherty said in a press release. "We understand the value of secure and sustainable pension plans. We are proposing a balanced package of measures for the benefit of pension plan sponsors, plan members and retirees."

The Harper government has been under pressure to deal with the pension problems brought on by the financial turmoil of the recession. But federal pension legislation only covers a small minority of pension plans in Canada, such as Air Canada and the two major national railway companies. The rest are governed by provincial legislation.

http://www.thestar.com/news/canada/article/716795--ottawa-introduces-pension-reforms?bn=1

Much ado about nothing. Closing the barn door after the horses have left.

If someone wants to capture the people who come out to vote then they should recommend an increase in the OAS and the CPP. Make company pension plans off limits to lenders. Require that sufficient resources go into a federal fund to insure that local government5s don't end up supporting failed Nortels. Just remember back awhile ago where Nortel was complaining about Canadian taxes causing companies to leave. Hell, they should have been taxed at a higher rate because they couldn't exist in a competitive world.