Canadian Salaried Retirees of FCA Canada
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Along with the bad news on the health front, there’s a lot to worry about with the economy these days. I’ve already heard that the Canadian shoe company ALDO has filed for creditor protection. Unfortunately, I’m worried it won’t be the last company that declares bankruptcy. The financial impact of COVID-19 is huge. And we’ve seen what can sometimes happen when companies close: Workers are left holding the bag. The federal government needs to be sure companies can’t walk away with people’s pensions. Workers and pensioners deserve super-priority status. That means they are first in line when it comes to paying creditors after a company files for bankruptcy. This is what Canada’s unions have long been saying. We also need enhanced retirement security for all Canadians, right across the country. After a lifetime of hard work, no one should have to retire in poverty.
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