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The Ontario Superintendent of Financial Services has named human resources consulting and technology firm Morneau Shepell as the administrator of Sears Canada Inc.’s registered retirement plan, reports The Canadian Press.
The Financial Services Commission of Ontario announced the news in a statement, adding that it has deemed it inevitable that the plan will be wound up.
“Morneau Shepell, which takes over the plan’s administration effective immediately, will contact members in the coming months,” reports CP.
More: Involved parties working towards a “smooth transition.”

ARIA provides a forum for an informed discussion on retirement income adequacy, and other related issues, including pension and retirement coverage, and defined benefit pension plans – ARIA pensions blog, 12 Dunlop Street, Barrie, ON, L4N 1V6 – sitemanager@ariapensions

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