Thoughts from a Management Lawyer: More on Governmental Pension Guarantees

April 18, 2009

More on Governmental Pension Guarantees

A few days ago I posted about the CAW's concerns about the Ontario government's announcement that they would not allow the Pension Benefits Guarantee Fund to operate at a deficit.

Fast forward, and now the Montreal Gazette has an article Are our pensions safe? Union asks Ottawa for guarantee not dealing with the auto industry, but with AbitibiBowater Inc. filing for bankruptcy protection on Friday. This time the Union is turning to the federal government for assistance. The union is also asking for a bail-out package. According to the article:

He [Renaud Gagné, CEP-Quebec vice-president] said it's now time for the Quebec government to step in with at least $100 million in guaranteed loans to keep AbitibiBowater afloat and save jobs.

CEP national secretary-treasurer Gaétan Ménard suggested the governments of Ontario and Nova Scotia also chip in since AbitibiBowater has operations there as well.

Posted at 09:15 AM in Current Affairs, In the News | Permalink

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