Protest at Brookfield Energy in Gatineau

About 30 pensioners from the closed Fraser Papers' Thurso pulp mill protested today at a Brookfield Energy office in Gatineau.

The pensioners are upset that they could lose up to 40% of their incomes when Fraser Papers is restructured.

Brookfield Asset Management is buying the assets of several Fraser Papers mills under a court-ordered restructuring process.

But the pension plan of as many as 1,600 former employees is not expected to be part of the sale.

Robert Milliette, who worked at the Thurso mill for 37 years before retiring four years ago, said “governments let Fraser ignore funding the pension plan when stock markets were strong.

“Now with the markets in trouble and the pension plans in a deficit, they are letting employer walk away from their obligation.”

Source:

Ex-mill workers demand action on threatened pension plan (Ottawa Citizen)