Ford Canada faces C$1.8 bln pension shortfall-paper

Newswire

Sept 23 (Reuters) - Ford Motor Co's Canadian subsidiary faces a C$1.8 billion ($1.69 billion) shortfall in its pension plan, the Globe and Mail said, citing a company letter to employees and retirees. The pension plan held assets of C$2.91 billion as of Dec. 31, covering about 62 percent of the liabilities if it were wound up, the paper cited the letter as saying. Ford is looking to take advantage of a change in Ontario law that extends the period for addressing pension shortfalls to 10 ...

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