Despite much public controversy surrounding it over the past few months, Bill C-27, which would make it easier for employers to convert existing employee Defined Benefit (or DB) pension plans to so-called Target Benefit (or TB) plans, remains at the First Reading stage in Parliament. That means it could still become law if nothing is done to stop it.
While it does not currently affect any PIPSC member under the Public Service Superannuation Act (PSSA), C-27 does affect other PIPSC members and sets a dangerous precedent for all Canadians. If its proposed sweeping changes take effect in one regulatory area, a powerful trend will be set in motion and pressure will increase to make changes in others.
It’s time to get this flawed piece of legislation off Parliament’s books once and for all. You can help! It is easy by joining the Institute’s ongoing campaign against C-27 and emailing your Member of Parliament, the Prime Minister and the Minister of Finance to let them know you oppose this dangerous Bill. Together, we can ensure the retirement security of all Canadians.
Board of Directors
Director, National Capital Region