CANADA - Workers have won legal protection for their wages and pension contributions when their employer goes bankrupt, following the approval of a new Bill.
The Canadian Labour Congress said the changes were the result of an intensive three-year campaign by unions to change laws that unfairly put workers last in line to get paid.
Ken Georgetti, president of the Canadian Labour Congress, said Canadians had been waiting a long time for the protection measures.
He said: "It is not just unionised workers that will benefit but every working woman and man in Canada that will have this protection as soon as the government proclaims the Act."
An innovative funding structure has been agreed for Croydon Pension Fund. However, there are some concerns about the arrangement. Stephanie Baxter reports
Some 52% of red flags raised by schemes on suspected scam pension transfers involve advisers or unregulated introducers, a report by the Pension Scams Industry Group (PSIG) has claimed.
The Norfolk Pension Fund has been successful as the lead plaintiff in a class action case that went to jury trial in California involving securities fraud.