For Immediate Release: June 4, 2009

(Queen’s Park, Toronto) – The McGuinty Government is giving preferential treatment to General Motors employees and pensioners while ignoring the 67% of Ontarians who don’t have a pension plan and those whose pensions are in jeopardy. 

Carleton-Mississippi Mills MPP Norm Sterling explained that the $3.5 billion paid to General Motors to support its pension plan fund by the McGuinty Government represents $307 for every man, woman and child in Ontario.  The 67% of Ontarians who don’t have a pension plan and those who work for companies like Nortel whose pensions are in jeopardy, will be contributing to the pensions of GM workers.

“What about Nortel pensioners? Their plan is also underfunded, so many of them will see their pensions cut by 25% to 75% when this historic company winds down. Is it fair to ask them to pay $307 each so that GM retirees will get 100% of their pensions?” Mr. Sterling asked the Members of the Ontario Legislature. 

Every time the Premier has been questioned about pensions his response has been to call upon the Federal Government to hold a so-called pension summit.  Mr. McGuinty created this inequity so it is now up to him to resolve it.  This is not Prime Minister Stephen Harper’s problem.”

Mr. Sterling concluded by telling the Ontario Legislature that instead of creating two classes of pensioners, Mr. McGuinty should create a new system of pensions that would be fair to all Ontarians. 

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For more information, call Carleton-Mississippi Mills MPP Norm Sterling at: (416) 314-7900