“Zealous Sudburians fell victim to failed companies”
Canadian workers who have paid into a retirement plan should be confident it will be there when they retire, says Sudbury Conservative candidate Ian Symington.
But, he said in a press release, “far too often we have seen workers through no fault of their own being forced to cut their pensions sharply if the company they worked for went bankrupt …
“Hard-working Sudburians fell victim to failed businesses and lost not only important income jobs but the value of their pensions,” said Symington, the Tories’ candidate for Sudbury in the September 20th general election.
“As Prime Minister, Erin O’Toole will stand up for workers and take the necessary steps to protect hard-earned pensions.”
Symington cited the example of Sears, which closed its Sudbury store in January 2018. Staff had to wait on a creditors’ list to see how their pensions would play out, only to learn that some of it would be lost.
A Conservative government will change the legislation, Symington said, to ensure retirees have priority over corporations bankrupt or restructured. It would also better secure employee pensions by:
– Prevent executives from paying themselves bonuses while running a company in the process of restructuring if the pension plan is not fully funded.
– The conversion of underfunded pension plans into retirement plans is no longer enforced, which involves losses and results in employees receiving less money.
– Companies’ commitment to greater transparency through clear reporting on the funding status of their pension plans.
“Our families and employees can work and plan for the future knowing that their future pensions are covered by the Canadian Conservatives,” added Symington.
Horse riding in Sudbury
Riding in Sudbury encompasses many parishes within the Greater Sudbury city, with the exception of Valley, Chelmsford, Azilda, and Onaping, and covers 977 square kilometers. It’s traditionally liberal riding and voters have elected eight Liberal MPs since 1988.
Current MP: Paul Lefebvre (not running again)
Candidate of the Liberal Party of Canada: Viviane Lapointe
New candidate for the Democratic Party: Nadia Verelli
Canadian Conservative Party candidate: Ian Symington
Green Party: David Robinson
People’s Party of Canada: Colette Methe
Nickel Belt Riding
The Nickel Belt riding encompasses communities in the cities of Greater Sudbury, West Nipissing, French River and Markstay-Warren and covers 30,490 square kilometers. The riding is typically NDP / Liberal Leaning.
Current MP: Marc G. Serre
Candidate of the Liberal Party of Canada: Acting MP Marc G. Serre
New candidate for the Democratic Party: Andréanne Chénier
Canadian Conservative Party candidate: Charles Humphrey
Green candidate: Craig Gravelle
People’s Party of Canada: David Hobbs
The Algoma-Manitoulin-Kapuskasing horseback riding covers the eastern, northern and central parts of the Algoma district, the extreme southern part of the Thunder Bay district, the entire island of Manitoulin and the western Cochrane district. The riding covers 100,103 square kilometers and has had an NDP MP for over ten years.
Current MEPs: Carol Hughes
New Democratic Party candidate: Acting MP Carol Hughes
Candidate of the Liberal Party of Canada: Duke Peltier
Conservative Party Candidate: John Sagman