A hidden cost in layoffs: leaving a job may erode a pension

Article Abstract:

Employees who have been laid-off or quit lose a substantial amount of their pension protection since plans typically discriminate in favor of employees staying with their employer. Legislation in the Canadian Parliament and provincial legislatures are strengthening the guarantees for pension refunds.

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Are pensions safe? Why Canadians cannot count on government to secure a golden retirement

Article Abstract:

The economic foundations of Canada's retirement income system, the Canada Pension Plan, are shaky. The plan does not invest the contributions of working Canadians and their employers, but relies on future contributions to fund the pensions of today's workers.

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Back to work - at last

Article Abstract:

Ellen Soyka, Wayne Decker, Mike Ruggiero and Rene Bolduc had all been laid off and were unemployed in summer 1991 as a result of the Canadian recession. Ruggiero has a rewarding job in 1992, but Bolduc has experienced professional and personal problems.

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