Dear (Name removed):

Thank you for your email concerning the challenges facing the pensions of Air Canada employees.

I have a received a large number of correspondence on this issue and let me say that I am very concerned about the state of pensions in these difficult economic times. Please know that I am sensitive to the importance a viable pension plan plays in the lives of Canadians who work hard and invest in their economy and themselves for their family and their future.

Pension management and the viability of pension plans is a serious issue across the country. We are taking a careful look at pension plan management here in Ottawa. In Parliament, it was the Liberal Caucus that first raised the issue of pensions in October, 2008, when the downturn first began and when the Harper government was still suggesting this crisis was little more than a temporary slump.

Prior to prorogation our party put forth three pension reforms that need greater consideration from the Harper government:

• A Supplementary Canada Pension Plan (SCPP) to help Canadians save more
• Giving employees with stranded pensions following bankruptcy the option of growing their pension assets through the Canada Pension Plan
• Protecting vulnerable Canadians on long-term disability by giving them preferred status as creditors in case of bankruptcy

Please be assured that we will continue to fight to strengthen the security of Canadians' retirement incomes and raise your concerns in the House of Commons and Senate.

Again, thank you for your correspondence. Please don’t hesitate to contact me on this or any other matter.

Sincerely,

Mike Savage, M.P.
Dartmouth-Cole Harbour