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WELCOME!

WELCOME!. Ottawa Chapter Spring Meeting 29 May 2012. AGM Agenda. 9:30 Welcome & Review of Agenda 9:35 Introduction of Guest Speaker 10:25 Treasurer’s Report 10:45 ~ Break ~ 11:05 Pension Update: BPG President’s Report, Q & A 11:55 Ottawa Chapter Update, General Q & A

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WELCOME!

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  1. WELCOME! Ottawa Chapter Spring Meeting 29 May 2012

  2. AGM Agenda 9:30 Welcome & Review of Agenda 9:35 Introduction of Guest Speaker 10:25 Treasurer’s Report 10:45~ Break ~ 11:05 Pension Update: BPG President’s Report, Q & A 11:55 Ottawa Chapter Update, General Q & A 12:30 Meeting Close

  3. Keynote Speaker Larry Elliot Borden, Ladner, Gervais LLP Insurance Issues for Pensioners

  4. Ottawa Chapter- Financial ReportMay 29, 2012 Don Dutton Ottawa Chapter Treasurer Presented by Harvey Hillier

  5. Bob Farmer President's Report May 2012

  6. Contents Plan Performance Lowering Pensioner Risk Federal Budget Pension Information Committee BPG Board Q & A

  7. Plan Performance Plan Valuation Report – as of Dec 31, 2010 Solvency shortfall: $1518M Solvency ratio: 88.5% 11.4% return on assets 2004-2010 trend

  8. Plan Performance Performance for 2011 2011 plan valuation available after June Larger costs in 2011, than in 2010, to provide the same pension benefit in future years Increases plan liabilities by about $780M Return on Assets: about 5% (2.8% for Jan-June) Voluntary contributions Prepayments to help manage funding obligations $750M in 2011 $2B total in last three years

  9. Voluntary Contributions Reduce Solvency Shortfall ($M) Voluntary Contributions: 2009: $500M 2010: $750M 2011: $750M

  10. Lowering Pensioner Risk The Risk Lower pension payments when sponsor goes out of business and plan is underfunded Sources of Risk Poor plan management Poor market performance Weak legislation/regulation Plan funding Sponsor bankruptcy

  11. The Legislative/Regulatory Challenge Plan funding rules Improved, but imperfect Sponsor Bankruptcy Pensioners have low priority, so little chance to improve pension funding in bankruptcy proceedings Strong opposition to improving pensioner priority If pensioner priority improved, others are relatively worse off Including lenders, bondholders Political Environment generally unwelcoming to change But there are opportunities for improvements

  12. Current Opportunities Bill C-331 Private member's bill (NDP) Would put pensioners ahead of all other unsecured creditors Indalex Case in Supreme Court (June 2012) Emphasizes fiduciary obligations of plan sponsor/administrator General application Pensioners ranked ahead of secured creditor Fact dependent BPG, through CFP, intervening

  13. Federal Budget Old Age Security (OAS) Pension payment can be affected, at pensioner option, due to OAS Change: age of eligibility increased from 65 to 67, starting in 2023 Implications None for current pensioners Pension payments modified for those retiring after 2023 opting for “integrated” payments

  14. Federal Budget Long Term Disability Currently, LTD payments come from employer revenues If employer ceases, so do payments Change: federally-regulated employers (like Bell) will be required to insure LTD payments LTD payments would not be linked to continued existence of employer Result: Greater security for those retiring with LTD benefits, after legislation is enacted Timing to be determined

  15. Pension Information Committee June: In Touch will give pensioners chance to nominate PIC reps from July 2 to Aug 3 Aug 13 to Sept 7: voting for nominees October: In Touch provides election results BPG supports election of Quebec: Michel Doyon and Yvan Dutrisac Ontario: Allison Henriques and Sue Dawes PIC: committee of employee/pensioner reps to whom Bell provides information regarding the pension plan Be sure to vote!

  16. BPG Board Departures André Bergeron (Communications) George Craig (Treasurer) Yvan Dutrisac (Chair: Montreal Chapter) Arrivals Penny Gilray (Treasurer) Roberte Cadieux (Communications) Louise Touchette (at large) Charlie Labarge (at large)

  17. PLUS BPG Board • Bob Farmer (President) • Dan McDonald (Vice-President) • Penny Gilray (Treasurer) • Lancy Hum (Secretary) • Sue Dawes (Pension Committee) • Roberte Cadieux (Communications) • Bob Bartlett (PC, Nominations) • Linda Gervais (PC) • Ron Hunt (Governance) • Jean Luc Geha (Audit) • Michel Doyon (Audit) • Louise Touchette (Nominations) • Charlie Labarge (at large)

  18. BPG Board (cont’d) PLUS: Chapter Chairs Marlyn Easterbrook (Ottawa) Titus Ramkhalawansingh (Toronto) Frank Bible (SWO) Robert Guay (Montreal) Yvan Pacaud (Quebec City)

  19. Questions?

  20. Ottawa Chapter Update Presented by Marlyn Easterbrook Ottawa Chapter Chair 29 May 2012

  21. Ottawa Chapter Executive CHAIR Marlyn Easterbrook Vice Chair Ron Hunt Past Chair Marc Davidson Treasurer Don Dutton Secretary Geraldine Foot Membership Coordinator Ed Wilton Webmaster Terry Acker ………..continued

  22. Ottawa Chapter Executive Members at Large John Campbell Lancy Hum Clair Collis Garry Logue John Elliot George McDougall David Fair Brian McClean Harvey Hillier Keith Thuell Kingston Committee Tina Phillips, Jackie Machin, Donna Anderson, Margaret Bryant, Betty Gauthier

  23. BPG Election of Board of Directors The current Board of Directors approves and recommends the following Directors for the 2012 / 2013 Board………

  24. BPG Election of Board of Directors Existing Members Ontario Bob Bartlett Linda Gervais Sue Dawes Lancy Hum Bob Farmer Ron Hunt Quebec Michel Doyon Dan McDonald Jean-Luc Geha ………….continued

  25. BPG Election of Board of Directors Existing Members (continued) Chapter Chairs Robert Guay Montreal Marlyn Easterbrook Ottawa Yvan Pacaud Quebec City Frank Bible Southwest Ontario Titus Ramkhalawansingh Toronto

  26. BPG Election of Board of Directors New Members Ontario Penny Gilray Charlie Labarge Quebec Roberte Cadieux Louise Touchette

  27. BPG Election of Board of Directors Motion: “That the membership of Bell Pensioners’ Group elect the slate of Directors for the 2012/2013 BPG Board as approved and recommended by the current Board of Directors.”

  28. STAY INFORMED ! Website www.bellpensionersgroup.ca New BPG Brochure See website, under “Membership” tab

  29. PIC NOMINATION AND VOTING Nomination: July 2 to Aug 3 Mail in form with pre-addressed envelope included with your In Touch Voting: Aug 13 to Sept 7 Make sure you read your In Touch for the procedures

  30. HOMEWORK…… Keep informed ! • Visit our website at www.bellpensionersgroup.ca • get the latest news from BPG • access the site of your local chapter • check for meeting dates • read reports from your local PIC reps • read and share our brochure

  31. …….HOMEWORK Keep informed ! Read our newsletters and our emails (make sure we have your correct email) Read your In Touch for information on BPG

  32. QUESTIONS & ANSWERS

  33. BPG General Meetings Outside of Ottawa 33 KingstonWednesday 30 May 2012 Royal Kingston Curling Club 130 Days Road Sudbury Fall 2012, TBA North Bay Fall 2012, TBA

  34. NEXT MEETING Tuesday, 27 November 2012 Nepean Sportsplex Salon B Tax Retirement Planning for Seniors

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