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The pension resource for former employees of Nortel Networks UK Limited and other acquired companies

 

Notice

The Plan has left PPF assessment…

On October 8, 2018 the Plan left PPF assessment and members’ Plan benefits have now been secured in a number of different ways.

The benefits for most members who were already in receipt of a pension (together with some new pensioners) have been secured with our chosen insurer, Legal & General, who will become legally responsible for paying these pensions from November 1, 2018 onwards (a payslip will be provided to support the first payment). The final monthly payment from the Plan was made on October 1, 2018 and some existing pensioners will also receive a one-off back payment arising from restrictions during PPF assessment.

Legal & General have also assumed responsibility for most deferred members for whom a pension, payable in the future, has been secured.

A number of members (including some dependants) who had small pension benefits elected to receive a one-off lump sum payment instead of an ongoing pension.

Finally, a number of members who were not in receipt of a pension elected to transfer their Share of the Funds to approved alternative pension providers.

Members have been sent a ‘discharge’ letter* setting out details of amounts and how his/her pension benefits have been secured. Legal & General will send a ‘Welcome Letter’ to each member who has had an ongoing or future pension secured with them.

*letters are being sent out progressively up to October 22, 2018 so if your letter is not received until later in the month then this should not be a cause for concern.

Notice

What does all this mean?

From a practical and legal perspective the Plan now ceases to be responsible for paying existing or future pension benefits or for providing ongoing member support.

Nonetheless, members will be aware that the Plan has not yet received all expected recoveries from the global Nortel insolvency process. Until such recoveries are realised, the Plan will still have a responsibility to distribute these Additional Recoveries to qualifying members – please check your discharge letter to see if this applies to you

When all Additional Recoveries have been dealt with (hopefully during 2019) the Trustee will then proceed to complete the formal winding-up of the Plan and the Trustees will be discharged formally from their role and responsibilities.

However…

We recognise that the changes outlined above are a significant event for our members and may give rise to some concern or uncertainty. We have therefore worked hard with Legal & General to make this change as seamless as possible for all members who have existing or future pensions. If you have any questions about these changes or need further clarification then please take a look at the code that appears in the top right hand corner of each page of your discharge letter and select it from the drop-down box below or choose another option. You will then see details of who you should contact depending on the nature of your query.

I am a pensioner or dependant and received letter DL1
I have a question about my pension or want to notify you of a change in circumstances

Please contact Legal & General using one of the following and, if applicable, quote or have to hand your Member Reference – see page 1 of your letter.

Telephone: 01707 607601

Email: nortel-LG@willistowerswatson.com

Mail: Nortel Networks UK Pension Plan, c/o Legal & General, PO Box 545, Redhill, Surrey RH1 1YX

Fax: 01707 607563

Payroll (including tax): 01737 788106

I have a Children’s Allowance and received letter DL1a
I have a question about my allowance or want to notify you of a change in circumstances

Please contact Legal & General using one of the following and, if applicable, quote or have to hand your Member Reference – see page 1 of your letter.

Telephone: 01707 607601

Email: nortel-LG@willistowerswatson.com

Mail: Nortel Networks UK Pension Plan, c/o Legal & General, PO Box 545, Redhill, Surrey RH1 1YX

Fax: 01707 607563

Payroll (including tax): 01737 788106

I have just retired and received letter DL2a
I have a question about my pension or want to notify you of a change in circumstances

Please contact Legal & General using one of the following and, if applicable, quote or have to hand your Member Reference – see page 1 of your letter.

Telephone: 01707 607601

Email: nortel-LG@willistowerswatson.com

Mail: Nortel Networks UK Pension Plan, c/o Legal & General, PO Box 545, Redhill, Surrey RH1 1YX

Fax: 01707 607563

Payroll (including tax): 01737 788106

I have just retired and received letter DL2b
I have a question about my pension or want to notify you of a change in circumstances

Please contact Legal & General using one of the following and, if applicable, quote or have to hand your Member Reference – see page 1 of your letter.

Telephone: 01707 607601

Email: nortel-LG@willistowerswatson.com

Mail: Nortel Networks UK Pension Plan, c/o Legal & General, PO Box 545, Redhill, Surrey RH1 1YX

Fax: 01707 607563

Payroll (including tax): 01737 788106

I am a deferred pensioner and received letter DL3
I have a question about my pension or want to notify you of a change in circumstances

Please contact Legal & General using one of the following and, if applicable, quote or have to hand your Member Reference – see page 1 of your letter.

Telephone: 01707 607601

Email: nortel-LG@willistowerswatson.com

Mail: Nortel Networks UK Pension Plan, c/o Legal & General, PO Box 545, Redhill, Surrey RH1 1YX

Fax: 01707 607563

Payroll (including tax): 01737 788106

I decided to take a transfer value and received letter DL4
I have a question about my Transfer or AVCs

Please contact the Trustee Support Team using one of the following and, if applicable, quote or have to hand your Member Reference – see page 1 of your letter.

Telephone: 01707 607601

Email: nortel-trustee@willistowerswatson.com

Mail: Nortel Networks UK Pension Plan, c/o Willis Towers Watson, PO Box 545, Redhill, Surrey RH1 1YX

Fax: 01707 607563

Payroll (including tax): 01737 788106

I decided to swap my small future pension for a lump sum and received letter DL5a
I have a question about my Winding-Up Lump Sum, AVCs or Arrears Payment

Please contact the Trustee Support Team using one of the following and, if applicable, quote or have to hand your Member Reference – see page 1 of your letter.

Telephone: 01707 607601

Email: nortel-trustee@willistowerswatson.com

Mail: Nortel Networks UK Pension Plan, c/o Willis Towers Watson, PO Box 545, Redhill, Surrey RH1 1YX

Fax: 01707 607563

Payroll (including tax): 01737 788106

I decided to swap my small pension for a lump sum and received letter DL5b
I have a question about my Winding-Up Lump Sum or Back Payment

Please contact the Trustee Support Team using one of the following and, if applicable, quote or have to hand your Member Reference – see page 1 of your letter.

Telephone: 01707 607601

Email: nortel-trustee@willistowerswatson.com

Mail: Nortel Networks UK Pension Plan, c/o Willis Towers Watson, PO Box 545, Redhill, Surrey RH1 1YX

Fax: 01707 607563

Payroll (including tax): 01737 788106

I decided to swap my small beneficiary pension for a lump sum and received letter DL6
I have a question about my Winding-Up Lump Sum or Back Payment

Please contact the Trustee Support Team using one of the following and, if applicable, quote or have to hand your Member Reference – see page 1 of your letter.

Telephone: 01707 607601

Email: nortel-trustee@willistowerswatson.com

Mail: Nortel Networks UK Pension Plan, c/o Willis Towers Watson, PO Box 545, Redhill, Surrey RH1 1YX

Fax: 01707 607563

Payroll (including tax): 01737 788106

I received earlier letters from the Plan but nothing in October 2018

Please contact the Trustee Support Team using one of the following and, if applicable, quote or have to hand your Member Reference – see page 1 of your letter.

Telephone: 01707 607601

Email: nortel-trustee@willistowerswatson.com

Mail: Nortel Networks UK Pension Plan, c/o Willis Towers Watson, PO Box 545, Redhill, Surrey RH1 1YX

Fax: 01707 607563

Payroll (including tax): 01737 788106

I have not received any letters from the Plan for a number of years

Please contact Legal & General using one of the following and, if applicable, quote or have to hand your Member Reference – see page 1 of your letter.

Telephone: 01707 607601

Email: nortel-LG@willistowerswatson.com

Mail: Nortel Networks UK Pension Plan, c/o Legal & General, PO Box 545, Redhill, Surrey RH1 1YX

Fax: 01707 607563

Payroll (including tax): 01737 788106

A former Nortel employee died after January 8, 2009 and did not leave a dependant

Please contact the Trustee Support Team using one of the following and, if applicable, quote or have to hand your Member Reference – see page 1 of your letter.

Telephone: 01707 607601

Email: nortel-trustee@willistowerswatson.com

Mail: Nortel Networks UK Pension Plan, c/o Willis Towers Watson, PO Box 545, Redhill, Surrey RH1 1YX

Fax: 01707 607563

Payroll (including tax): 01737 788106