IT’S NOT FAIR THAT ONTARIANS WHO LACK A DEFINED-BENEFIT PENSION PLAN PAY MORE TO SUBSIDIZE THOSE WITH ONE.

a multi-billion-dollar bullet with General Motors in Canada in 2009, but only because of a government bailout.

The announcement of the expansion of benefits was made concurrently with an easing of solvency regulation for defined-benefit plans that will make future insolvencies of these plans both insolvencies typically result in reduced benefit levels but not in a complete loss. The more likely outcome when an employer is unable to fulfill its pension commitments is that the pension recipient will have to accept a benefit “haircut.” In other words, the recipient will receive a reduced pension rather than no pension at all. This will