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Hudson’s Bay pension surplus at centre of class action from ex-Simpsons employees
['Canadian Press', 'Tara Deschamps']
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Telus was appointed in April as the HBC pension plan administrator by the Financial Services Regulatory Authority of Ontario.
Article content HBC appealed several parts of the ruling, including a portion that ruled it wouldn’t be entitled to surplus assets.
Workers enrolled in the Simpsons plan now say they are entitled to that surplus because of the judge’s prior ruling.
When the class action was first filed, Koskie Minsky said the Financial Services Regulatory Authority of Ontario reported HBC’s pension plan had 4,976 active members and about $460.07 million.