Canada Post faces $1B pension shortfall

Canada Post warns it will need a significant cash infusion by the middle of next year to meet pension payment obligations estimated at $1 billion.

“Based on our current financial projections, we believe we are going to require additional liquidity by mid-next year,” said Canada Post spokesman Jon Hamilton. “We’re talking to the shareholder, the government, about options to address the challenge.”

Hamilton had no specifics about what that might entail, whether it would be increased borrowing or a subsidy, though Hamilton said Canadians have made it clear they don’t support such government subsidy.

Read more: Canada Post faces $1B pension shortfall | Toronto Star.