The Monsanto pension surplus decision was released by the Supreme Court of Canada recently. It generated some dramatic headlines: “Court hands key pension victory to workers”; “Monsanto Decision Will Mean $millions to Thousands of Laid-Off Workers”; “Members must get part of pension surplus”; “Plan sponsors find Monsanto decision hard to swallow.”

The Court said that when a registered pension plan is partially wound-up, if there are surplus assets as at the date of the partial wind-up, the amount of surplus allocable to the terminating members must be paid out of the plan.

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