07:59 AM EST, 11/12/2025 (MT Newswires) -- Sun Life Financial ( SLF ) said Wednesday it has completed annuity buy-in transactions totalling $114 million of two New Brunswick pension plans for former employees of Fraser Papers.

More than 700 Fraser Papers employees' pensions were impacted when the company filed for creditor protection in 2009. Sun Life will now ensure uninterrupted payment of monthly pensions.

The agreement will also see the shared risk plans terminated, bringing the CCAA process to an end for these plan members, a statement said.

Since 2008, more than $70 billion in pension obligations have been transferred to insurers across the industry. Sun Life has received over $22 billion of these pension obligations.