MP John Rafferty (Thunder Bay – Rainy River) says it will be an important week for his private member's bill for pension reform.
Bill C-501 would place unsecured pensions closer to the front of the line of creditors when companies, such as AbitibiBowater, enter restructuring or bankruptcy proceedings. The bill passed its first reading in the House of Commons in May and is now headed to the Industry Committee.
During committee hearings, the bill will face debate and possibly amendments. Rafferty said he is calling on all parties to move the bill closer to becoming law without major changes.
The bill is expected to be discussed in committee meetings in Ottawa throughout the next two weeks.
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