It's not a catch-22, but it's a funny situation. Yes, Canada Post is not going to close tomorrow, so we don't have to worry about the long-term pension. One thing of note, though—and it hasn't come up in our discussions—is that the current pension is in surplus, and this is the funny part. It is in surplus only because Canada Post put about $2.5 billion, present value dollars, into the pension above and beyond normal pension contributions because of the pension requirements that they have to be fully funded should it shut down. If we did not have this long-term rule, Canada Post wouldn't have coughed up that extra $2.5 billion, and the current pension wouldn't be in surplus. So it's almost a Möbius strip; one would not exist without the other.
On September 26th, 2016. See this statement in context.