Bank of Canada warns of corporate pension woes


By Gilbert Le Gras OTTAWA, June 25 (Reuters) - Corporate retirement funds are low on money and Canadian firms may have to draw on their cash flows to pay pensions, the Bank of Canada said on Wednesday. "The unfunded portion of corporate pension plans represents a potential claim on the cash flow of corporations, although the magnitude and timing are often unclear," a bank study warned. "Among the countries most heavily affected are Canada, the United Kingdom and the United States." The ...

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