Koskie Minsky LLP and McKenzie Lake Lawyers LLP have commenced a class action against Bell Canada and affiliates arising out of the alleged incorrect approach used by the Defendants to calculate the cost of living indexation pursuant to the Bell Canada Pension Plan. It is alleged that Bell Canada adopted the incorrect approach to indexation such that 34,000 retirees have been shortchanged with respect to the Cost of Living Adjustment for the 2017 year.
The statement of claim, issued on January 16, 2018, was commenced on behalf of all persons entitled to benefits under the Plan, and who were entitled to receive indexed pension payments as of January 1, 2017.
The claim seeks $150 million in damages for breach of fiduciary and trust duties, and breach of contract.