Nackawic, NB — The Supreme Court of Canada has dismissed an appeal by former workers of a closed pulp mill in Nack…
Nackawic, NB — The Supreme Court of Canada has dismissed an appeal by former workers of a closed pulp mill in Nackawic, NB, regarding their pension fund. Although the mill has since reopened with a new mandate and new owners, when the mill closed in 2004, the pension fund was underfunded by $40 million, giving workers over age 55 only 87% of their pension benefits, and those under 55, no pension at all. However, in 2005, the provincial government of Bernard Lord changed the Pension Act to redistribute the pension funds to all workers, dropping the pensions of workers over 55 to between 65 and 72%. Craig Melanson led pensioners over 55 to challenge the province in court over this change, but now both the New Brunswick Court of Appeal and the Supreme Court of Canada have refused to hear the case.
Source: CBC News, Sept. 20
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