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I worked at the Fraser Papers' mill in Thurso, Quebec for 38 years as a machinist. On each paycheque, I contributed a portion of my wages to the pension fund by obligation, which I believed would be a guaranteed investment. I retired in 2003.
At that time, I signed a document which guaranteed me a specific monthly income. I drafted a budget and also factored in the inflation rate. Sadly, I was only able to benefit from my pension for seven years. In return for 38 years of loyal service to Fraser Papers, I was only able to get seven years of benefits.
In April 2010, I saw my benefits reduced by 40 per cent.
The federal government must act to protect private pension plans. In addition, when companies go through the CCAA proceedings, workers should be first in line, having priority over banks and other institutions.
Mr. Harper's PRPP scheme is simply another plan to profit the banks and financial institutions instead of helping workers. What frustrates me most is that I had a written contract. Why, but why must I have to pay for the deficiencies in the Canadian laws?
This is not fiction, but a true story!