Dipac

A few short years ago none of us imagined that the DuPont of Canada we knew would disappear from existence. Even fewer years ago no one imagined the demise of Nortel, which is a much more significant situation since bankruptcy is involved, their pension plans are seriously under-funded, and also are at risk of being wrapped up with the funds converted to annuities, etc, etc.

For a more complete overview of the Nortel situation please enter www.nortelpensioners.ca in your internet browser.

Bill C-501 currently before the House of Commons addresses the archaic legislation applicable to bankruptcy.....will it survive the political process???

At noon on September 15 at Queen's Park in Toronto, there will be a NORTEL RALLY in an attempt to awaken the Ontario government to the negatives of the wrap up/annuity conversion scenario. Without responsive positive government action, Nortel pensioners face a bleak future as retirees. Many organizations will be represented at this rally. As DIPAC's representative on the board of the Canadian Federation of Pensioners, Jack Walsh will be one of the key speakers.

If you reside within a reasonable commute to Queen's Park, you should participate in this event. If you are NOT PRESENT to add to the STAND UP & BE COUNTED message to the Ontario government, you are probably doing yourself a disservice. Without legislative change, if DIPAC members should ever find themselves in like circumstances, our fate will be no different than that presently anticipated for Nortel pensioners. Our pensions are only as secure as legislation prescribes, and currently there are many inadequacies in that legislation!

Think about it!