'It's going to be hard': Sears pension payments cut by 30% this week
Many Sears Canada retirees found it hard to take this week when they got their first reduced pension payment — chopped by 30 per cent. They had been bracing for a 20 per cent cut but learned in June it would shrink by a further 10 percentage points. "It's terrible," said Ron Husk of Mount Pearl, N.L., who worked for Sears for 35 years. On Wednesday, his monthly pension payout dropped by almost $450.