Northern Pulp pensions to be made whole as woodlands sale proceeds

Unifor Canada
December 12, 2025
Category: Business & Politics
Region: Canada, Canada East

HALIFAX—Unifor members at the now-shuttered Northern Pulp mill in Pictou, Nova Scotia, will see their pension fund made whole and fully wound up as the company’s woodland assets secures a buyer at auction for $235 million. This amount is enough to repay the $37 million owed to Unifor Local 440 members’ defined benefit pension plan. “This is a small but important victory for all workers as the bankruptcy process typically places workers and their pensions at the bottom of the list of creditors or off the list entirely,” said Unifor National President Lana Payne. “Current Northern Pulp pensioners can rest easier knowing their retirement is secure, and those who will retire in the future can now count on the pension they earned being there for them.” Unifor represented 220 members at Northern Pulp prior to its closure in 2020 and has continued to advocate for them through the closure, creditor protection and sale processes.

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