To: {MP_Name:value} (will be added from above)
Copy to: Right Hon. Stephen Harper, Hon. Tony Clement, Hon. Jim Flaherty, Hon. Diane Ablonczy and Ted Menzies

As a retiree member of Air Canada (one of 27,000) whose pension is in jeopardy due to the Company's financial status created by ACE asset sell off and economic conditions, I am deeply concerned that the Federal Government has taken no action to amend the BIA to give preferred status to the pension plan deficits resulting from pension plan wind ups and liquidation under the BIA. Allowing companies to continue to pay extravagant salaries and bonuses to executives, as well as allowing other companies, corporate CEOs, lawyers, etc., to take what is owed to pensioners, whose pension plans are the company's major creditors is unacceptable.

As retirees, we are proud that we were the people who helped pioneer and develop Air Canada as a Crown Corporation. Now our livelihood and lifestyle is being severely threatened. In order to fulfill the government's commitments I am requesting that the following changes to the legislation and regulations be enacted.

First and foremost the Federal Bankruptcy and Insolvency Act (BIA) needs to be amended to give preferred status to pensioners, whose pensions are the major creditors to the Company. This status is generally true of the Corporations who have sought creditor protection by entering CCAA or the BIA

Secondly, regulations must be changed immediately to allow existing pensioners or survivors options on the wind-up of their DBPP pension fund. With interest rates at an all time low, annuities would provide financial returns far below the present cost of living. Regulations must be enacted to allow pensioners to invest the amounts available in investments other than annuities.

Your prompt response and acknowledgement that these issues will be addressed in the Budget speech of March 3rd, 2010 would be greatly appreciated, and will enable me to continue to support the efforts of your government's undertakings.