A company seeks bankruptcy protection
Impact on your defined contribution pension plan
When a company seeks bankruptcy protection under the Bankruptcy and Insolvency Act (Canada) or the Companies' Creditors Arrangement Act (Canada), it continues to do business but must present a restructuring plan. The restructuring plans usually has provisions for the pension plan.
The company's restructuring plan may result in...
If you do not receive any information about the effect of such a business decision on your pension plan and you are concerned, you can contact your plan administrator.
Impact on your benefits
You will be informed if the restructuring of the company has any effect on the benefits that you have accumulated in the pension plan as a member (amounts entered in your account). However, your benefits and those of the other members can never be reduced without your consent.