ontario pension fund must be cut. meaning.

http://www.theglobeandmail.com/globe-investor/ontario-teachers-pension-benefits-have-to-be-cut-duncan-declares/article2390503/

The pension fund for Ontario’s teachers is $9.6-billion in the red, and the province wants to fix the shortfall by cutting benefits, not hiking contributions.

The heavily indebted province is seeking to shift the onus for solving shortfalls away from taxpayers as part of its plan to put its finances back on a solid footing.

The funding shortfall that existed as of Jan. 1 happened despite recent contribution increases, benefit cuts, and solid investment returns.

Ontario Teachers’ Pension Plan CEO Jim Leech emphasized to reporters in a press conference on Tuesday morning that the plan is still 94 per cent funded.

“This is not a crisis,” he said. “This is our 10th year that we have faced a preliminary deficit.”

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D - funny how every pension plans seems to floundering. But we keep getting reassured that, somehow, CPP has been spared.
If that is the case, then I'll eat my hat!
The truth will be outed after the next Triennial pension review.