November 16, 2017
On November 15, 2017, the Ontario Superintendent of Financial Services announced that it has appointed Morneau Shepell Ltd. to take over the continuing administration of Stelco’s five ongoing defined benefit pension plans, effective January 1, 2018. This includes the two USW Plans and the following registered pension plans for Non-USW members:
- Hamilton Salaried Pension Plan;
- Lake Erie Works Salaried Pension Plan; and
- Lake Erie Works Pickle Line Pension Plan
The appointment of an administrator was one of the requirements under the Plan of Compromise, Arrangement and Restructuring in the Stelco CCAA. The five pension plans are continuing, and monthly pension payments to retirees will continue without interruption.
If you have any questions regarding your pension, until December 31, 2017 please continue to contact Stelco’s Benefit Service Centre at 905-577-4488 or toll free at 1-877-935-9499.
Morneau Shepell will be in contact with all plan members in the new year. As of January 1, 2018, members and retirees should direct their inquiries to:
Morneau Shepell Ltd.
895 Don Mills Road, Tower 1
Toronto, Ontario, M3C 1W3
Toll-free at 1-844-650-2820
Email: stelcopensions@morneaushepell.com
To view a copy of the announcement on FSCO’s website please click here.
