CANADA’S CROWN CORPORATIONS: BIGGER BAILOUTS AND DEEPER HOLES

May 31, 2013
By

Crown corps

Bill Tufts, founder of Fair Pensions for All, said such “bold” reforms are the only way to wrestle with the mounting pension and employee benefit liabilities that are eating into the operational budgets and front-line services Crown corporations offer Canadians.

The organization’s latest report estimates eight of the 48 Crown corporations face nearly $9 billion in liabilities for pension and other “retiree benefits.” They include Via Rail, Canada Post, Canada Mortgage and Housing Corporation, Atomic Energy of Canada, Bank of Canada, Business Development Bank, CBC and Farm Credit Canada