Fighting for Defined Benefit Pensioners
Why does pension protection matter?
Read Audrey and Ronald’s stories.
Fredericton New Brunswick
Audrey loved working at the Fredericton, New Brunswick Sears store. When the store she had worked at for over 50 years closed, Audrey was released with no severance. Soon after, Audrey lost the health and dental benefits she depended on, and her $400 a month pension was cut by 30%.
Today, 77-year old Audrey and her husband often have to choose between paying for prescription medication or buying groceries, heating their home or visiting their children. “I gave the best years of my life to Sears Canada. I feel betrayed,” said Audrey. “We now live week to week and constantly live in fear that we will not be able to make ends meet.”
St. John’s Newfoundland
Ronald was a proud Sears employee in St. John’s, Newfoundland for 35 years. Ronald contributed to the Sears pension plan for 35 years and trusted the company with his family’s financial future. In 2017, Ronald and his wife lost their health and dental benefits and 30% of his pension income.
At 72, with pre-existing health conditions, Ronald could not afford health insurance. Ronald was forced to choose between paying the debt from cancer treatment or paying their mortgage - putting them at risk of losing their home.
To supplement their income, Ronald has gone back to work. He now works as a greeter at a hardware store, risking his health and that of his family during the COVID-19 pandemic.
Pensioners like Audrey and Ronald urgently need protection now. Canadian Federation of Pensioners is calling on the Senate to take action now and pass Bill C-228.