Notice of Hearing Before the Financial Services Tribunal ("FST")
July 16, 2013, 2:37 PM EST
There have been a number of former employees/retirees who have contacted the CAW-Canada concerning the Notice of hearing published by the Financial Services Commission of Ontario ("FSCO").
The Notice of hearing must be issued, by law, to everyone who was or is a member/participant in the Navistar Pension Plan, all as part of the partial plan wind up procedure.
The partial plan wind up itself is required as a result of the closure of the Company's Chatham facility in July, 2011.
The application of special partial plan wind up rules set by Statute law to the circumstances of the Navistar Pension Plan has been a source of controversy between Navistar and the CAW-Canada since the closure. Submissions with respect to the dispute were made to the Financial Services Commission ("FSCO"). Earlier this year the Deputy Superintendent (Pensions) of FSCO issued a ruling in favour of the submissions made by the CAW-Canada. Navistar chose to appeal this ruling to the Financial Services Tribunal. The CAW-Canada supports the ruling and will maintain its support before the FST.
The FST has begun its process. Part of the process includes ensuring that every member of the plan has notice of the upcoming hearing. That process of notification will include notices in the Chatham and Windsor daily papers by July 20, 2013. But all this does not mean that every member has to or should attend the hearing. For example plan members currently working at the Navistar parts depot are not affected by this dispute. And those Navistar retirees who retired prior to 2008 are not impacted by the dispute, unless they retired while on layoff or sick leave.
The legal and pension departments of the CAW-Canada are actively engaged in this file and continue to act on behalf of all Navistar workers and retirees who were affected by the 2008-2009 layoffs and the closure of the Chatham facility. The CAW-Canada is committed to presenting all relevant evidence and a cogent submission to the FST to insure the favourable ruling of the Deputy Superintendent stands unchanged.
The pending hearings are important because they seek to insure every worker/retiree who is entitled to the plan wind up protections of the law receives such entitlements. Please be assured that nothing can happen in the pending hearings which will take away any benefit a plan member currently enjoys or receives.
We have every confidence that the final decision of the FST in response to the Navistar appeal will be in the best interest of Navistar members. We believe the Deputy Superintendent's favourable original decision will be upheld by the FST. The FST hearings will occur December 2013.
We will continue to update the Navistar updates page as information becomes available.