Wood Business Canadian Bio Mass Wood Pelletsoperations forestierescanadian manufacturing

NewPage pensioners might have to repay certain amount

Pulp & Paper Canada
December 04, 2012
By Pulp & Paper Canada

Some pensioners of the former NewPage Port Hawkesbury mill in Nova Scotia received distressing news at the end of November. About 200 former employees were advised that may have to repay tens of thousands of dollars due to a calculation error.

According to a story on CBC.ca on November 30, the pension plan’s current administrator, Morneau Shepell, told recipients the previous administrator, Aon Hewitt, had made an error. Morneau Shepell has asked pensioners to repay the funds distributed in error.

Aon Hewitt, commenting in a story on the web site of BenefitsCanada magazine, says it is dealing directly with the current administrator to resolve the matter in a professional manner.

Those receiving a pension from NewPage Port Hawkesbury are already receiving less than they expected because the plan was underfunded when it was the company declared bankruptcy last year.

Add comment

Note: By submitting your comments you acknowledge that Pulp and Paper Canada has the right to reproduce, broadcast and publicize those comments or any part thereof in any manner whatsoever. Please note that due to the volume of e-mails we receive, not all comments will be published and those that are published will not be edited. However, all will be carefully read, considered and appreciated.

Security code

Subscription Centre

New Subscription
Already a Subscriber
Customer Service
View Digital Magazine Renew

Most Popular

Latest Events

Sun Oct 25, 2015
PaperWeek Canada
Mon Feb 01, 2016