Plan portfolios suffer major losses

Companies may have to increase contributions
||Last Updated: 04/09/2003

The problem of what to do with pension plan surpluses may have become a moot point.

Losses in equity markets mean losses in the value of Canadian pension plan portfolios – perhaps as much as a 10 to 15 per cent decrease.

Canadian equities were already suffering a downturn, particularly high tech stocks like Nortel Networks Corp. Then came the Sept. 11 terrorist attacks, which sent markets into a tailspin.