Finance committee  Yes. If you included priority for LTD folks above everybody else because they have nothing to begin with, there would be enough money in the Canadian estate to pay them. I also want to point out that even if there is a shortfall in the Canadian estate assets, getting 30% or 40% i

Finance committee  I'll answer in English because I think some of the anglophones didn't understand your first question. Quebec is in a unique situation. They have the equivalent of CPP. What they are offering to the companies is...when a pension fund goes bust, it's essentially amalgamated into t

Finance committee  I think it's an interesting solution.

Finance committee  The main response I've gotten.... And I'm happy to see that you, Mr. McCallum and Mr. Marston, are aware of the LTD situation already. I've written letters to all deputies and all senators. The most common response I get is that they are looking at the old age pension situation

Finance committee  The situation is about the same in the United Kingdom as it is in the United States. For example, the pension protection mechanism they use there does not involve preferential status in cases of bankruptcy, but rather, a government guarantee. In that case, the government is the o

Finance committee  Yes, I can answer that question. The Nortel Retirees Pension Fund is 69% funded. Therefore, they have 69% to begin with. Furthermore, in Ontario—but, unfortunately, not in Quebec—there is a pension benefit guarantee which, on average—if you make the calculation based on average

Finance committee  No, I don't think many Nortel retirees are saying that they will lose 40% of their pension, if retirees on long-term disability are excluded. We, of course, are losing everything. However, retirees who are 65 years of age and over or who retired because of their age are not so ba

Finance committee  I am sure that makes sense. That is the bare minimum.

Finance committee  Yes.

Finance committee  I would agree that would be good, but it's a provincial concern. I would be worried about that becoming a way to shift responsibility back to the provinces. I think the provinces and the federal government share the responsibility. They both have a Charter of Rights and Freedoms.

Finance committee  I'm very happy that you understand our problems so well. Yes, you're exactly right, the salaries are about what you have discussed. One difference between LTD beneficiaries and old age retirees is that the LTD folks have these small revenues, but they still have a family to run

Finance committee  Ladies and gentlemen, good afternoon. My brief is available in French, but I intend to make my presentation in English. Dear sirs and madams, I am Sylvain de Margerie. I am speaking on behalf of my spouse, Doris de Margerie, a Nortel long-term disability beneficiary. My daught