moved for leave to introduce Bill C-259, An Act to amend the Bankruptcy and Insolvency Act, the Companies’ Creditors Arrangement Act and the Pension Benefits Standards Act, 1985 (pension plans and group insurance programs).
Madam Speaker, it is my honour to introduce a private member's bill that would protect the pensions and benefits already earned by Canadian workers and retirees. I would sincerely like to thank my colleague for Hamilton Centre for seconding this bill.
Pensions and benefits earned by workers are deferred wages, plain and simple. Anything that denies workers what they have earned should be illegal. Under current legislation, employers are using Canada's inadequate bankruptcy laws to take money meant for workers' pensions and divert them to pay off their secured creditors. This bill would stop that practice and ensure workers get what they have worked hard to earn.
The Liberals have promised for years to change the laws, but have failed to follow through. It is time for the government to stand up for Canadian workers and their families.
(Motions deemed adopted, bill read the first time and printed)