Thursday, June 3, 2010

Bill C-501 may not be debated until November.

John Rafferty, in a response to an email from another Nortel retiree, said the following:

Bill C-501 is not likely to be discussed in the Industry committee until November, and at that time, the issue of amending the bill to be retroactive will be debated and discussed.

If this is the case, then it will be after we have had our pensions cut in October. The positive thing is that retroactivity may be discussed and included. To help us however, it would be better if the law was enacted retroactively before any administrator tried to convert our pensions to annuities.

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