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NRPC

"On January 14, 2009, Nortel Networks initiated financial restructuring under the Companies' Creditors Arrangement Act (CCAA) in Canada.  Simultaneously, they have stopped paying severance, transition allowances, and deferred wages to former employees and retirees throwing the lives of many people into great turmoil.  The NRPC's major priorities are to ensure that Nortel retirees and former employees receive the benefits they were promised and to avoid the wind up of the Nortel pension fund when it is underfinanced. We will do this through representation at the CCAA process and by seeking urgent action from governments to protect our rights as citizens and as Nortel creditors and by communicating our story to political leaders and the public nationwide." 

Don Sproule, Chairman NRPC 

Upcoming Events - February 2010
Feb. 9 from 2:00pm to 4:30pm, Town Hall Information Session at the RA Centre in Ottawa.  
Let's fill the room!  Reserve your spot today!!!

We have over 225 confirmations to date for the Town Hall meeting on Tuesday.  Let's make a last ditch effort to fill the room.  Who will be the next 75 people to respond?
 
Topic " Bankruptcy Laws and their impact on employees and pensions."  CBC's Rita Celli will moderate. 
Guest panelists include Philip Slayton, former dean of Law at UWO, Diane Urquhart, independent financial analyst, John Tyson, former VP Design Interpretive, BNR/Nortel, and Don Sproule, NRPC National Chair.  Reply to  This e-mail address is being protected from spam bots, you need JavaScript enabled to view it  to reserve a seat.  Max. 300 

Feb. 16 at 7:00pm in Ottawa.  Don Sproule on panel organized by the Canadian Labour Congress to discuss pension issues. Details to follow as available.
 

Latest News

(08/02) Basic PBGF Obligations Will be Met

The Ontario Minister of Finance has stated that the government will now meet its obligations regarding the Pension Benefit Guarantee Fund to ensure that Nortel pensioners will receive the first $1000 per month of their pension.  This is a good f...

(27/01) Court Approves Final Canadian Funding Agreement - Jan 21, 2010

The Canadian and U.S. Courts have approved a final Canadian Funding Agreement ("CFA") which will see the flow of additional funds from Nortel's U.S. entities to its Canadian entities. This additional funding is critical to the continued ope...

(14/01) More Government Sanctioned Theft of Pensions?

Nortel isn't the only company where former employees get shafted by current bankruptcy protection laws.  See this story about employees of Fraser Papers. http://www.cep.ca/press/cepnews_e.php?id=692  ...

(13/01) Pensions Top the List on CBC "Your Question Period Poll"

This weekend, the CBC conducted an on-line poll asking Canadians to respond to five questions which should be addressed on CBC political affairs news programming later this week. The question on pensions was the overwhelming winner, with 64% of over...

(13/01) Paper on Preferred Status

Diane Urquhart, independent analyst, has done some excellent research and prepared a compelling paper on why former employee benefits should be given preferred status over unsecured creditors during bankruptcy proceedings http://ismymoneysafe.org/pdf...

(07/01) Giant 5ft Stocking of coal delivered to O’Connor and McGuinty

In this photo are Ella Jurgitis, Cecile Lovas with the giant stocking she made, and Sylvia Eisele, taken outside Minister O'Connor's constituency office in Kanata. All three widows live in O'Connor's riding.  (photo by Hugh Stewart)  ...

(31/12) Shakespeare Supports NRPC in Ottawa

Current and former Nortel employees have been strong supporters of the arts in Ottawa for many years and the financial impact of the company's bankruptcy proceedings is already being felt by a number of organizations. The NRPC has an opportunity to r...

(22/12) What the Dickens?

Scrooge visits Minister Flaherty's office.           read more.  ...

Item of the Week

Nortel advances $57M to pensioners, former employees and disabled employees.

Today Nortel announced an agreement to fund medical and life insurance benefits for pensioners and their survivors until December 31, 2010.  In addition, the terminated employees are to receive a payment up to $3000 for lost severance benefits.  Long-term disabled employees will have their wage-replacement benefit and medical and life insurance benefits continued until Dec. 31, 2010.
Read more...
 
Replay of KM Webcast Available to Members
The replay of the NRPC-KM Webcast held on 2 February is now available to Members by going to the Members Only / Media / Webinars section of the website.  A copy of the charts is also available.
 
Nortel Pensioner's Question Wins the CBC Web Poll
On Jan. 26, 2010, CBC's The National responded to the recent web poll which wanted the CBC to ask the Government what they were going to do to protect pensions, severance and disability benefits in this time of economic turmoil and bankruptcies.
Over 64% of the nearly 11,000 respondents voted for the pension question which had been put forward by Nortel pensioner, Eamon Halpin of Whitby. Click on the following link to the news segment:
http://www.cbc.ca/video/#/News/TV_Shows/The_National/ID=1396663437
Thank you Eamon for keeping the impact of Nortel's bankruptcy on employees, the disabled and pensioners in the news. And thanks to all of the people who responded to the poll.