A.O. Smith pensions monitored
Mayor Joanne Ross-Zuj noted at the Aug. 12 Centre Wellington council meeting that in a previous council session she had mentioned a letter from Wellington-Halton Hills MPP Ted Arnott.
Arnott’s letter to the province was to garner assurance that the A.O. Smith pension plan was in order and all the rules followed correctly.
Earlier this year, the company ended production at its Fergus location which resulted in layoffs for over 300 workers.
In the aftermath, questions had been raised regarding worker pensions and how those laid off would be affected.
Arnott responded to Ross-Zuj stating that the matter is under the investigation of the Financial Services Commission of Ontario.
Ross-Zuj said this means the situation is being monitored and the investigators are responsible for making certain everything is being done properly in regard to the processing of pensions.
