MP for (RIDING NAME)
Subject: Stop undermining our pensions alone, drop Bill C-27
Dear Mr/Ms (MP’s NAME),
I am writing to ask you to drop Bill C-27, an Act to amend the Pension Benefits Standards Act. This bill is an attack on the retirement security of workers and retirees like me.
Here is what I am asking for:
Stop undermining our pensions and savings: Our government should not be voting laws that give employers a pass to walk away from the pension agreements they’ve made to workers and retirees. Conversion from a DB to a TB plan shifts virtually all plan risks from employers to active and retired members. Bill C-27 allows employers to pressure employees and retirees into “surrendering” their pension rights.
Keep your word: Before the election, Justin Trudeau clearly promised in writing “[Defined Benefit Plans] which have already been paid for by employees and pensioners, should not be retroactively changed into [Target Benefit Plans].” Bill C-27 would allow that extreme change.
Drop bill C-27, a left-over policy from Stephen Harper: The Harper government was the first to try for this change to pensions. Why would your government pick up ideas from a Conservative government Canadians clearly rejected just over a year ago. Even Stephen Harper abandoned the proposal.
Ask Canadians: The Liberal Party did not campaign on allowing employers to pressure workers and retirees into “surrendering” their pension rights. If anything, Canadians were left with the impression that your government would respect their pensions. Instead of attacking current pensions, ask Canadians for their views on how to ensure secure retirement for all Canadians.
Talk openly with Canadians: Finance Minister Bill Morneau’s firm Morneau Shepell wrote in a submission to the federal government that TB plans entail “excessive operating costs” (which, of course, flow to firms like Morneau Shepell). These big firms would be big winners if DB plans were converted to TB plans, which require more frequent and more complex services from actuarial and pension consulting firms like Morneau Shepell.
The proposed bill will not only weaken current pensions, but it will not help us meet the urgent goal of moving toward ensuring secure retirement for more Canadians.
I urge you to stop Bill C-27, and instead, work toward better pensions for more citizens.