Thursday, February 17, 2011

Morneau Shepell approves new pensions at 50%

As stated on the Koskie Minsky web site, it has been decided to offer the commuted value of new pensions to Nortel people at 50% of the full pension value and also provide the opportunity for disabled people who are not yet pension age to also take out their commuted value at the 50% level.
The details can be seen at:

I presume that this is an interim decision to offer 50% and that adjustments will be made when the final proper ratio is determined for the pension fund.

1 comment:

  1. 50% seems so small.

    Tom, does it seem like this is reflective of what the actual end amount is? Why would these folks get less than the 100% for previous retirees or 69% for the newest retirees.