Pension and benefit briefs$16.5 billion pension shortfall • Maritime Life takes over Liberty Health • Canada Life investors approve takeover deal • B.C. protects partners of workers killed on the job • Benefits now 30 per cent of compensation in the U.S. • The ultimate perk every American CEO can now afford • It pays to be fit • Paperwork sucking up health care dollars • Government Web site laudedBy 06/02/2003|CHRR, Guide to Pensions & Benefits|Last Updated: 06/04/2003 $16.5 billion pension shortfallToronto — Canada’s largest publicly traded companies have a combined $16.5 billion shortfall in pension plans, according to a market study conducted by The National Post. More than 70 per cent of Canada’s 60 biggest companies by market value have pension deficits, with nine of them exceeding $500 million each. Nortel Networks, Bombardier, Alcan and Imperial Oil account for more than half of the $16.5 billion. Leo de Bever, of the Ontario Teachers’ Pension Plan, said the country’s pension funds haven’t been this bad since the 1970s and he expects it to have a serious drag on corporate earnings as more money will have to be pumped in to cover the shortfalls. Maritime Life takes over Liberty HealthHalifax To Read the Full Story, Subscribe or Sign In Remember Me Forgot Password If you are a current Subscriber, please click here to set-up or update your login information.