Answers To… The Most Frequently Asked Questions

 

WHY ARE WE NOT REPRESENTING ACTIVE EMPLOYEES?

We are a group working to protect pensioner’s interests, although any successes we have will most likely be of benefit to ALL who are in the salaried plans.  However, any such benefit would apply on AFTER a member retires.  We cannot represent anyone who still has an employer-employee relationship, as that gets into the realm of a union and we are not a union and have no intentions of becoming a union.  Our group simply cannot act as your agent with Stelco.  We hope you understand our position and continue to belong to our group as a means of contributing to your future as a RETIREE.

 

 

WILL THE STEL SALARIED PENSIONERS ORGANIZATION WORK TO PROTECT THE PENSIONS AND BENEFITS OF SALARIED RETIREES FROM A QUEBEC OR ALBERTA PLANT?

1.      If you are a salaried retiree, retired from a plant outside of Ontario, but are a member of an Ontario plan, then YES, the Stel Salaried Pensioners Organization will work to protect your pension and benefits.

2.      If your pension and benefit plan originates from a plan other than Ontario then unfortunately, as our retained lawyers only deal in Ontario Law, we are unable to represent you.  Although it will be necessary for you to pursue other means to protect your interests, you are welcome and encouraged to join and become a member of our Organization in order to help support our cause.  It is believed that any successes in Ontario may also prove beneficial to out of province situations.

 

NOTE:  If uncertain as to which category you are in (i.e. 1 or 2 above), you should contact your respective Human Resources Department and request a letter of confirmation as to which province your pension and benefit program originates.

 

 

Why DID I RECEIVE A “NOTICE TO RETIRED SALARIED BENEFICIARIES?

(IN THE MATTER OF THE COMPANIES’ CREDITORS ARRANGEMENT ACT R.S.C. 1985. c. C-36, AS AMMENEDED AND IN THE MATTER OF A PROPOSSED PLAN OF COMPROMISES OR ARRANGEMENT WITH RESPECT TO STELCO INC. AND THE OTHER APPLICANTS LISTED IN SCHEDULE “A” APPLICATION UNDER THE COMPANIES’ CREDITORS ARRANGEMENT ACT. R.S.C. 1985. c. C-36, AS AMENDED)

 

Stelco is complying with a court order that requires the Company to send you notice with respect to the Representation Order that was granted.  The Court has appointed the four persons named to act on behalf of the salaried retirees (beneficiaries of the registered plans) throughout the CCAA proceedings.  The four representatives were put forward by the Steering Committee of the Stel Salaried Pensioners Organization  (SSPO) and accepted by the Court.  They will actively partake in the negotiations leading to the development of a Plan of Arrangement and the remaining eleven members of the SSPO Steering Committee will act in an advisory role to them.  The mission of the SSPO is to protect the basic pension and benefit plans for Stelco salaried pensioners.

 

Negotiations will be required inside of the CCAA process and the four persons named will work closely with the SSPO’s legal counsel (Koskie Minsky) on behalf of the Retired Salaried Pension Plan Members (beneficiaries) in an effort to protect pensions and benefits.  Those who do not wish to be represented by the SSPO may opt out in writing as per the notice and must do so before March 15, 2004. That is the purpose of the notice you received. 

 

It is a personal decision for each and every person to make with respect to their wish to be represented by this Organization and its’ representatives. 

 

Those who wish to represent themselves have every right to do so by simply notifying the parties as instructed in the notice.  However, they also must appreciate any form of representation will be at their own expense.

 

There is significant advantage in being part of a large group.  There is strength in numbers and numbers can generate significant resources when and if the need should arise.  A large group of stakeholders can also make themselves heard and their presence felt throughout this process.

 

As yet there is no Plan Of Arrangement, nor have discussions been entered into at this early stage.  The idea behind CCAA is to develop a plan with all stakeholders, which may take the better part of a year or perhaps even longer.