The federal government has proposed BILL C-377 which would add a new Section to the Income Tax Act.
Under this Bill, pension plans like the United Food and Commercial Workers Pension Plan (UFCWPP) and Canadian Commercial Workers Industry Pension Plan (CWIPP) would have to give details on ANY pensioner who receives an annual pension payment of $5,000 or more.
Information of the person receiving the payment, including name, address, and the specific amount paid would be made available to the public on a government website.
Not only will this proposed legislation create substantial administration fees
There would also be a significant impact to the plans as they exist today, and the information that would need to be made public.
That is why the Union and Employer Trustees from the UFCW 1518 Pension Plan have sent letters to the Prime Minister to reject Bill C-377 (see attached letter below).
The Board of Trustees from CCWIPP has also sent a letter outlining their concerns with the proposed bill (see attached letter below).
WHAT CAN YOU DO?
We encourage all UFCW 1518 members to support the opposition of Bill C-377 and take action to protect your pension interests and personal information.
You can do this by sending a letter to your Member of Parliament (MP) to reject Bill C-377. Add your name and address - no postage is required.
It is critical that our voices are heard - B-C377 needs to be stopped to protect the privacy of us all!