Consultations on enhancing retirement security
All Canadians deserve a safe, secure and dignified retirement. In recent years, some pensioners have found themselves in difficult circumstances, facing reduced benefits as a result of their employer's insolvency and an underfunded pension plan. To address these issues and enhance retirement security, we are seeking feedback from Canadians.
We want to hear your views and opinions on how we can help to enhance retirement security, particularly for those who have workplace pension plans. Options to address the issues at hand include pension, corporate governance and insolvency policies, and could include the following:
- measures to help ensure that employers maintain well-funded pension plans, such as incentives to eliminate pension deficits before there is the prospect of insolvency
- restrictions on corporate behaviour, where appropriate, to better align corporate decision-making with pensioner and employee interests, such as restricting executive compensation and the payment of dividends in insolvency or near-insolvency situations
- more transparency and fairness in insolvency proceedings by increasing the information available and opportunities to participate in the proceedings at critical stages
In addition to hearing the views of Canadians, officials will be conducting analysis, research and targeted outreach.
For more technical details on options and considerations, you can review our consultation document: Enhancing Retirement Security for Canadians.
You can also join the conversation on Twitter: #YourFutureMatters
The Consultations on enhancing retirement security close on December 21, 2018.
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