Tuesday, December 14, 2010

Quebec Law 129 application to ex- Quebecers

Quebec law 129 provides some help to Nortel pensioners who retire in Quebec. Many people have worked in Quebec and then moved to another province or country and are asking "does law 129 apply to me".

If you last worked for Nortel Canada in Quebec and transferred to another country, like the USA, then law 129 probably applies to you since you are considered to have retired from Quebec.

If you worked in Quebec and then transferred to another Canadian province and retired from that other province or moved to another country from that province, then law 129 probably does not apply to you.

None of this is totally clear and Morneau Sobeco have their work cut out to determine where everyone worked during their Nortel careers, and which pension funds need to be transferred to the Regie de Quebec under law 129.

Morneau Sobeco will also be determining those of us who are eligible for the FSCO top up in Ontario, and in this case it will depend on how many years you worked in Ontario, and what that contribution to your over Nortel Canadian pension is.

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