Kenora Council Backing Pensions

Kenora City Council is throwing its support behind a resolution calling on the federal and provincial levels of government to work with AbitibiBowater and its unions to protect employee pensions.

The union wants to set up a trust fund to protect the pensions of some 29 thousand current and retired workers.

AbitibiBowater is currently under bankruptcy protection, but the Communication, Energy and Paperworkers union is worried that workers could lose up to 27 percent of their pensions if the company goes broke.

The resolution suggests that pension income reductions will have a negative impact on National, provincial and municipal economies.