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By Steve Brearton
Illustration: Seth
For whose benefit?
A recent court ruling has people buzzing about pension surpluses again, but who owns the surplus in employee pension funds? Well, it depends.
205,005.45 Payout in dollars National Hockey League legend Gordie Howe received following a 1992 court decision that the NHL had misappropriated $21 million in surplus pension benefits. Other players received as little as $55.
20,000 Number of Eaton’s department store employees and former workers who were affected in 1997 when $190 million in additional pension monies were diverted to help the struggling firm.
52 Figure in millions of cash payments and pension improvements former Royal Trust employees received following the settlement over an alleged $150-million pension surplus with the Royal Bank.
19.6 Millions of dollars a court ruling was expected to drain from assets held by the former Bank of British Columbia. A 1995 ruling handed a $40-million pension surplus to employees. “I think,” said the winning lawyer, “we have drained the bank.”
14 Numbers of years to settle a dispute over pension funds following a merger between Canada Eldor and Cameco Corp. in 1988. In 2002, Saskatoon-based Cameco agreed to pay workers $18 million.
12 Estimated percentage increase in Canada Steamship Lines’ assets following a ruling to allow it access to $83 million from extra money in its employee pension fund. The funds boosted 2003 assets to an estimated $776 million.
7 Number of days a court gave Dominion Stores Ltd. — controlled by financier Conrad Black — to return $37.9 million in surplus funds from the employee pension fund in 1986. | 
