Mr. Speaker, I am pleased to rise today to table a petition with hundreds of signatures that were collected by the Hamilton chapter of CURC, the Congress of Union Retirees of Canada.
The petitioners are profoundly worried about the government's plan to allow the conversion of defined benefit pension plans to target benefit or so-called shared risk plans. Such a conversion would allow the government to strip pension benefits of legal protections and permit employers to reduce all benefits, including those earned through past service.
The petitioners call on the government to abandon this ill-conceived scheme and to focus its energy instead on improving the retirement security of the 62% of Canadian workers without any workplace pension plan by expanding the CPP.
While the rules of the House do not allow me to endorse a petition, I firmly believe pensions are deferred wages and employers cannot be allowed to break their promise to deliver those benefits to retirees. It is our job to ensure that this solemn promise is kept.