| Has the plan experienced any setbacks? |
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Q. Has our pensioner group experienced any actual "setbacks" since the change of pension plan and benefit sponsorship?
A. To date our pension plan is fully funded and meets applicable regulatory standards. Thus your normal pension benefits are being delivered as per the particulars of our pension plan. This is also the case with regard to other benefits. While not a setback in the "pure" sense, in times past under DuPont Canada sponsorship, a pension adjustment to offset the increase in the "cost of living" might have been expected in 2005, in keeping with previous adjustments. This did not occur and might well be regarded as a "setback". Inquiries of INVISTA(Canada) indicate this was not an oversight, and as no compelling legal requirements exist with regard to such adjustments, we have been told we have no good reason to anticipate such increases in the years to come unless INVISTA decides to voluntarily implement such an adjustment. |
