Friday, January 1, 2010

Kosky Minksy Webinar in January 2010

The NRPC-SRNC will be holding another webcast with our legal representatives, Koskie Minsky LLP in the second half of January 2010. The exact date and time has not been finalized. The last webinar was very useful and provided a lot of information and response to questions. Following the webinar the material and questions and answers were then published on the NRPC-SRNC website.

You are being asked to submit questions to the NRPC-SNRC in advance so that they can formulate the webcast to meet the majority of the concerns. You can submit your questions to

I have submitted 4 questions that are shown below for your information. I know there are a lot more questions on LTD and severance and other concerns that need to be addressed. My choice is driven from my own personal concerns, and if you feel the same uneasiness as I do perhaps you can submit your own version of those concerns to the NRPC-SNRC. I encourage everyone to submit questions on the topics that are concerning them most.


The last number quoted on the funding percentage for the Nortel Pension Trust Fund was 69%. This was only an estimate provided by Mercer. When is the proper funding assessment going to be carried out, and when can we expect to hear what the properly calculated percentage is?


What is your estimate of the percentage of Nortel assets that will be allocated to Canada. What is the total value of claims against the Canadian estate and how much will the Pension Trust Fund claim against Nortel Canada?


Can you provide a clear report on the status of political action to have the BIA changed to assist Nortel pensioners obtain priority status in terms of the Pension Fund claims? Is there hope that some action will occur on our behalf to help augment the fund and improve the percentage payout for our pensions?


Can you please provide some detail on the web site, or during the webcast regarding the process by which our pensions will be recalculated on wind up? Will the commuted value left in our pensions be the basis for the calculation? How will the administrator determine those commuted values? What interest percentage can we expect to obtain for the purchased annuities? How will the actuarial calculations reflect the fact that our original pensions were calculated on tables in place when we retired? Since some of us have been retired for a number of years, the lifetime expectancy in current tables will reflect a longer period that the original calculations and will therefore result in a lower payment from purchased annuities.

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