bpg general meetings oshawa, october 26 mississauga ... · background pension plans are subject to...
TRANSCRIPT
Pension Information Committee Report
BPG General Meetings
Oshawa, October 26th, 2015
Mississauga, October 28th, 2015
1
Pension Information Committee (PIC)
Effective January 1st 2016
Bell Canada PIC meeting was held on September 29th, 2015
2015 PIC Report: Provided the Pension Fund Status as of Dec 2014
PIC report will be mailed, if requested, or available on both the InTouch and Benefits Websites
by the beginning of November
2
Representing Ontario & Western Canada Quebec & Atlantic Region
Pensioners Peter Dilworth (Substitute:
Suzanne Dawes)
Michel Doyon ( Substitute:
Yvan Dutrisac)
Management Jeannette Wiens Danny Rosler (Substitute:
Benson Themidor)
UNIFOR (appointed)
Mike Nicoloff Olivier Carriere
33,880 Retirees and Survivors Age Distribution
3
Pension Information Committee (PIC)
4
DB and DC Plan Disbursements
5
DB Plan Disbursements Past 10 years
6
Market value of
assets includes
Bell’s advanced
voluntary
pension
contribution of
$343 Million
7
Financial Position
Bell Required Contribution Evaluation as of December 31, 2014
( $ Millions)
Current Service Costs
-Defined Benefit $132
-Defined Contribution (Estimated) 77
Total $209
Defined Benefit Amortization
Payments
$374
Total Required Contribution
$583
As of December 31, 2014, Bell has $ 343 Million of unused
advance contributions that are available to be used to satisfy the
deficit amortization requirements of $374M
8
9
DB Fund Investments
10
Pension Plan Investment Risk Management
Low Risk
Portfolio
Mimics Future
Obligations
Revenue
Generating
Portfolio at
acceptable risk
11
Background
Pension plans are subject to longevity risk, meaning an increase in
pension payments if pensioners live longer than expected
Life expectancy beyond age 65 has been increasing at an increasing
rate.
Current expectancy is 84 years.
The agreement signed between Bell and Sun Life
Insurance on Feb 23rd , 2015 is the 1st of its kind in
North America
The Presidents Report will cover the detail that is in
the PIC report. 12
Pension Plan Longevity Risk Management
Retiree Audit
2014
3500 Audited
Payments to 72 Pensioners postponed Nov, 2014
11 Pensioners have had no contact to resume
2015
10,000 Audited
500 received final reminder in Sept
14