Category Nortel Pension
Pensions: General and Nortel Specific Topics
Pensions: General and Nortel Specific Topics 1. Pension outcomes in case of bankruptcy/restructuring/asset sales You may have heard of a well-known telecommunications equipment supplier, a global player which prospered for decades and then fell on hard times lost billions of dollars, laid off thousands of workers, had over $1B under-funded pension obligations, had Pavi Binning […]
Nortel Settlement Agreement- What’s in it for pensioners?
Nortel Settlement Agreement- What’s in it for pensioners? In a nutshell The Nortel Settlement agreement offers pensioners about a $2,000 value now, while it forces pensioners to forgo a potential of up 5-50 times as much upside later, if a successful fight can mounted to receive claims priority and/or action against Nortel, its Board, Officers […]
Nortel pensioners’ CCAA claim: How will the final windup ratio be determined?
Nortel pensioners’ CCAA claim: How will the final windup ratio be determined? We just heard from the latest Koskie Minsky report to Nortel pensioners, that the latest ‘estimated’ windup ratio is 64%. This is the lowest number we have heard so far from official sources. The reasons suggested for this low number are because earlier […]
New Ontario pension windup flexibility is great but must include ‘self-administration’ option
New Ontario pension windup flexibility is great but must include ‘self-administration’ option It is wonderful to read that Ontario Finance Minister Duncan decided to broaden the available options upon pension wind-up, rather than forcing pensioners into an annuity. The Nortel pensioner group NRPC’s announcement in the context of the so called Financial Sponsorship Model-FSM (ominously) […]
LIF- What is it and why important for Nortel pensioners
LIF- What is it and why important for Nortel pensioners In a nutshell Ontario government announced that as part of the Nortel pension plan windup procedures the pensioners in this case will not be compelled to convert the (reduced) commuted value of their pension to an annuity, but will also have an option to choose […]
Pension or lump sum
Pension or Lump Sum? Reading Theo Francis’ “Pension tension: figuring out when to lump it” in the WSJ, reminded me of the time when I had to make the decision, about five years ago. For what it’s worth, I’ll later give you some of my rationale for choosing to go with a pension, rather than […]
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