Parliament Hill was chock-full of protestors Wednesday who said they are concerned about the future of their benefits at Nortel.
Thousands of retirees, former workers and people on disability crowded the lawns to make their concerns heard about the future of Nortel's pension fund, disability benefits and severances, which are under debate due to the former telecom giant's insolvency proceedings.
Nortel may not be able to pay all of its severed employees their full provincial entitlement because of the number of secured creditors ahead in line.
"Never did we ever, ever think that at our age we would be up here on Parliament Hill protesting," says Esther Benjamin, whose husband David worked at Nortel for 30 years.
Arlene Plante, who is receiving disability benefits from Nortel, says she was equally as surprised to be in the position she is in today.
"People with disabilities do not belong in a bankruptcy court," she says.
"You can't expect us to fight the way creditors and the way other employee groups are fighting for their rights because by the very nature of our group, we are disabled."
Pension problems
Since banks and other "secured" creditors have access to Nortel's remaining funds before pensioners, many worry they will be left with a lower income once the courts have completed the insolvency.
Other companies with 'defined benefit' pension plans - meaning the workers are guaranteed a certain percentage of income after retirement once they finish an alloted number of years at the company - are also facing deficits.
In response, some are switching over to 'defined contribution' plans, where workers receive pensions based on how much money they put into them.
"Just because a company is in bankruptcy doesn't mean it doesn't have money," says Diane Urquhart, a bankruptcy analyst who is employed by one of the law firms representing Nortel pensioners. "There's money. We just think pensioners should get it first."
With a report from CTV Ottawa's Norman Fetterley
