Employee Comments on Wajax Reply to FSCO Letter.

Dear Committee,

I have not visited the website recently until today and read with interest your (Committee) letter to the Ontario Pension people and the Wajax reply.

I find these letters rather unsettling for the following reasons;

1)    In paragraph 3 of your letter to the FSCO you state that there is an internal Wajax memo outlining a plan to deprive the employees of their fair share of the surplus. In their response they don't deny your accusation  thus I assume It must be correct. Would this not be considered fraud on the Company's part?

2)    I see that after saying in the past that the Company has taken periodic contribution holidays from from their share of the pension contribution, they finally admit your accusation that they have not contributed at all since 1986. Finally the truth comes out!

3) Their letter states "this annuity purchase will give employees peace of mind knowing that their pension payments are guaranteed and secure"
Are they suggesting that they were not secure when the pension was in the Company's hands?  If so should the remaining members of the defined benefit plan be worried?

Hope that we're successful with this claim as I retire in 6 years and will need every dollar of pension that I can get.

Keep up the good work - you have far more support than you think.