Bell Canada Pension andBell Canada Pension and Benefits · BELL EXPERTECH BIMS MOBILITY Bell TV...

Bell Canada Pension andBell Canada Pension and Benefits

Presented by:Guylaine Pomerleau – Senior Manager - Pension

October, 2011

Agenda Two Benefits sites

Statistics Descriptions of the coverage/claims

2011 Pension Information Committee (PIC) report Statistics Financial situation

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Benefits/Avantages

www.benefits-avantages.hroffice.com

1 888 400-0661

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Benefits sites – Benefits/Avantages

Currently more than 32,500 retirees and survivors ~ 28,000 retirees and survivors are covered under company paid Post-Retirement Benefits

Statistics for the first nine months of 2011 Statistics for the first nine months of 2011 Call center : more than 90,000 calls out of which about 26,500 were for retirees

Retirees’ top questionsRetirees top questions Employee Discount Plan Request for a form Validation of coverage for a specific expense

Q Question on pension cheque Add/remove coordination of benefits for a dependant Change of home address

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Benefits sites – Benefits/Avantages (cont’d)(cont d) Primary source of information on the coverage available at retirement

Health care program as well as life insuranceea ca e p og a as e as e su a ce

Detailed description of the coverage for each benefit, such as prescription drugs, ambulance transportation, hearing aids, medical supplies and services, vision care and dental care, if applicablesupplies and services, vision care and dental care, if applicable

Benefits at retirement are provided in conjunction with provincial health insurance plans

• Provincial health insurance plans cover most routine medical services and standard• Provincial health insurance plans cover most routine medical services and standard hospital ward accommodation

• Bell health care program provides coverage for eligible services, treatments or supplies not covered by the provincial health insurance planssupplies not covered by the provincial health insurance plans

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Benefits sites – Benefits/Avantages (cont’d)(cont d)www.benefits-avantages.hroffice.com

Cli k t l iClick to login

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Benefits sites – Benefits/Avantages (cont’d)(cont d)

Step 2 - Only if “Group RSP”Step 1 - Required

Last step – select your language

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Detailed description of your health care program as well as your life insurance protection

Direct access to your health and dental claims online from Manulife’s secure web site

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Manulifebce.manulife.com/BellPlanMemberUI/Login.aspx

Bell Canada retirees: Ont (1 800 558-8909); Qc (1 800 749-5953)

Others: 1 800 268-6195

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Benefits sites – Manulife

Available since 2006

Online access to your medical, dental and prescription drug claims

First time user Click “Sign up now!” and fill in a few quick questions Click Sign up now!” and fill in a few quick questions For security reasons, a personal activation key will be mailed to your home address within three to five business days

Returning user Need to complete 3 quick questions

Statistics Statistics ~ 5,000 have registered (18%) on the Manulife web site ~ 4,000 have direct deposit (14%) ~ 1 750 receive electronic claim statements (6%)

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~ 1,750 receive electronic claim statements (6%)

Benefits sites – Manulife (cont’d)bce.manulife.com/BellPlanMemberUI/Login.aspx

First time user

Returning user

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Benefits sites – Manulife (cont’d)

First time user

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Benefits sites – Manulife (cont’d)

Alex Bell

1234567

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Pension Information Committee ReportPension Information Committee Report

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Pension Information Committee ReportReleased on a yearly basis (usually in the Fall)

Available online to all members of the Bell Canada Pension Plan Available online to all members of the Bell Canada Pension Plan

Straightforward information about your Plan’s membership and financial situationsituation

Other relevant details such as changes occurring in the previous year within the companyp y

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Pension Information Committee Report (con’t)(con t)Membership

December 31, 2009BELL EXPERTECH BIMS MOBILITY Bell TV TOTAL TOTAL

Active Members

December 31, 2010

Members accruing DB serviceNumber 14,832 1,012 36 2,052 54 17,986 20,399Average age 47.6 47.9 38.2 41.2 42.5 46.9 46.2

Members accruing DC benefits(with or without past DB service)

Number 6,069 171 584 4,418 1,481 12,723 12,406, , , ,7 3 , 06Average age 38.0 38.5 35.7 33.5 34.1 35.9 35.2

Inactive MembersRetirees

Number 29,339 683 - 164 1 30,187 29,891Average age 69.0 60.1 - 65.4 - 68.8 68.4

SurvivorsSurvivorsNumber 2,259 19 - 9 - 2,287 2,181Average age 74.8 59.2 - 75.5 - 74.6 74.2

Entitled to a deferred pensionNumber 6,171 179 16 940 24 7,330 7,455Average age 46.8 40.7 38.0 40.4 40.8 45.8 45.3

Members transferred out of the Plan(with past entitlements remaining in the Plan)

Number 1,221 - - 10 - 1,231 n.a

Grand Total 59,891 2,064 636 7,593 1,560 71,744 72,332

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Pension Information Committee Report (con’t)(con t)Evolution of membership

30,000

35,000

40,000

45,000

10 000

15,000

20,000

25,000

0

5,000

10,000

1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010

Retirees and survivors

Actives accruing DB service

Actives accruing DC benefits (including members with past DB service)

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Pension Information Committee Report (con’t)(con t)Age distribution for retirees and survivors

7,520

5,475 5,4474,762

3,8092 893

1 13321

2,8931,690

44279 22

<45 45-49 50-54 55-59 60-64 65-69 70-74 75-79 80-84 85-89 90-94 95-99 100+

AgeRetireesSurvivors

Average age for retirees : 68.8 Average age for survivors : 74.6

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Pension Information Committee Report (con’t)(con t)Disbursements

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Pension Information Committee Report (con’t)(con t)Financial position

(in millions) December 31, 2010 December 31, 2009

Actuarial assets ¹DB arrangement

Market value ² $11 692 7 $10 296 2Market value $11,692.7 $10,296.2Unrecognized gain/(loss) $268.9 $782.5Total $11,961.6 $11,078.7

DC arrangement $186.5 $148.6Total $12,148.1 $11,227.3

Actuarial liabilityS l ³Solvency ³

DB arrangementActive members $3,646.6 $3,229.9Retirees and other members $9,564.2 $9,140.1Total $13,210.8 $12,370.0

DC arrangement $186.5 $148.6Total $13 397 3 $12 518 6Total $13,397.3 $12,518.6

Going concernDB arrangement

Active members $3,553.1 $3,308.3Retirees and other members $8,197.3 $7,747.8Total $11,750.4 $11,056.1

DC $186 5 $148 6DC arrangement $186.5 $148.6Total $11,936.9 $11,204.7

Actuarial surplus/(deficit)Solvency ($1,249.2) ($1,291.3)Going-concern $211.2 $22.6

1 U d f th i d th l l l ti

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1 Used for the going-concern and the solvency calculations.2 Including voluntary pension contributions of $803.3 million in excess of the minimum amortization payments and other required payments for 2010.3 Including wind-up expenses of $13 million.

Pension Information Committee Report (con’t)(con t)ContributionsIn light of the Plan’s financial situation as of December 31, 2010, the following represents the estimated minimum funding for 2011 as well as the maximum that the employer maythe estimated minimum funding for 2011 as well as the maximum that the employer may contribute to the pension fund

(in millions)Minimum Contributions

RequirementsMaximum Eligible

ContributionsDB arrangement

Amortization payment $410.5 ¹ $1,518.1 2

Normal cost $158.2 $158.2Total $568.7 $1,676.3

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DC arrangement $40.5 $40.5

Total $609.2 $1,716.8¹ In accordance with Paragraph 9(6) of the Pension Benefits Standards Regualtions, 1985 , the amortization payment may be reduced by the amount of additional

payment made in prior years, equal to $803.3 million as of December 31, 2010. payment made in prior years, equal to $803.3 million as of December 31, 2010.2 The Employer will may make larger amortization payments, up to the total unfunded actuarial liability or solvency shortfall using market value of assets

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