Nortel Networks News
Nortel Negotiated Pension Plan Windup
Nortel Negotiated Pension Plan Windup 2015
UPDATE: Nortel Pension Plan 2015 News
Morneau Shepell have now apparently decided to mail letters to the 8000 or so Union members around November 16th, 2015 explaining the status of each plan member. At the same time, each member will be advised of the date an information webinar will take place in their area.
Nortel Pension Plan Meetings
Also townhall meetings will be scheduled in the following Canadian cities of the Greater Toronto Area, (GTA), Belleville, London, Quebec City, Moncton, Vancouver and Calgary.
The 3 webinars will focus on the concerns of the varying provinces. A webinar will be held in each official language and later posted on the NRPC & KM's websites so that it can be viewed at the convenience of the Nortel member. Also a 800 information telephone number will be supplied.
Members of the Managerial and non-Negotiated Plan
The 14,000 members of the Managerial and non-Negotiated Plan (Reg. 0342048), will not receive any news at this time about their options. However they will have access to the union information. It is expected that the preliminary report for the latter group will be available in late October or early November.
About The Nortel Pension Plan Windup
For approximately 20,000 Canadian pensioners and former employees of Nortel Networks the long wait is over and you can start to receive your monthly income from your Nortel Pension Plan. On May 12, 2015, the Ontario Superior Court released a decision requiring the allocation of assets from the sale of Nortel's business and intellectual property be distributed based on a pro rata approach for the Nortel Pension Plan Windup.
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