Aveos Pension -Update No. 4 -District 140 Bulletin

INFORMATION UPDATE July 25, 2012

Aveos Pension – Update No. 4

I would like to provide an explanation and some clarity about the termination process of the Aveos pension plan as directed by OSFI and why it is taking so long to complete. In Pension Updates #2 (June 13th) and #3 (June 20th) I described how the termination and windup payout would take place; it will be in 2 separate parts, one directly from Aveos (Aon Hewitt) and one directly from Air Canada.

In Pension Update #1 (March 25th) I described the termination process and some of the challenges that I foresaw with respect to the windup of the Aveos plan because the Pension transition process was still in its early stages and incomplete on March 20th, 2012 when Aveos filed for CCAA and then BIA protection. Read More…

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