When Sears Canada closed its 59 stores in Canada, there were approximately 18,000 retirees and beneficiaries who were relying on receiving pension benefits from the Sears Canada Plan, a plan which is underfunded by about $270 million. Despite this, and while they knew this crisis was brewing, the Ontario Liberal government continues the decades long tradition of relaxing solvency and other rules which protect workers receiving pensions.
Ken Neumann and the United Steelworkers have been on the frontlines of many fights to get workers the pensions they were promised. Here is a great article in which he clearly lays out the issues that the Steelworkers have confronted and in which he introduces a plan developed by experts in bankruptcy and restructuring law which propose practical and realistic legislative reforms that would protect employees and pensioners.
The Ontario Liberal government knows what to do. Sign this petition and let them know that they have to act.
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