Benefits. Presented by: Guylaine Pomerleau Senior Manager - Pension
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1 Bell Canada Pension and Benefits Presented by: Guylaine Pomerleau Senior Manager - Pension October, 2011
2 Agenda Two Benefits sites Statistics Descriptions of the coverage/claims 2011 Pension Information Committee (PIC) report Statistics Financial situation Page 2
3 Benefits/Avantages Page 3
4 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 Call center : more than 90,000 calls out of which about 26,500 were for retirees Retirees top questions Employee Discount Plan Request for a form Validation of coverage for a specific expense Question on pension cheque Add/remove coordination of benefits for a dependant Change of home address Page 4
5 Benefits sites Benefits/Avantages (cont d) Primary source of information on the coverage available at retirement Health care program as well as life insurance 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 applicable Benefits at retirement are provided in conjunction with provincial health insurance plans 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 plans Page 5
6 Benefits sites Benefits/Avantages (cont d) Click to login Page 6
7 Benefits sites Benefits/Avantages (cont d) Step 1 - Required Step 2 - Only if Group RSP Last step select your language Page 7
8 Benefits sites Benefits/Avantages (cont d) 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 Page 8
9 Benefits sites Benefits/Avantages (cont d) Page 9
10 Manulife bce.manulife.com/bellplanmemberui/login.aspx Bell Canada retirees: Ont ( ); Qc ( ) Others: Page 10
11 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 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 ~ 5,000 have registered (18%) on the Manulife web site ~ 4,000 have direct deposit (14%) ~ 1,750 receive electronic claim statements (6%) Page 11
12 Benefits sites Manulife (cont d) bce.manulife.com/bellplanmemberui/login.aspx First time user Returning user Page 12
13 Benefits sites Manulife (cont d) First time user Page 13
14 Benefits sites Manulife (cont d) Alex Bell Page 14
15 Pension Information Committee Report Page 15
16 Pension Information Committee Report Released on a yearly basis (usually in the Fall) Available online to all members of the Bell Canada Pension Plan Straightforward information about your Plan s membership and financial situation Other relevant details such as changes occurring in the previous year within the company Page 16
17 Pension Information Committee Report (con t) Membership December 31, 2010 December 31, 2009 BELL EXPERTECH BIMS MOBILITY Bell TV TOTAL TOTAL Active Members Members accruing DB service Number 14,832 1, , ,986 20,399 Average age Members accruing DC benefits (with or without past DB service) Number 6, ,418 1,481 12,723 12,406 Average age Inactive Members Retirees Number 29, ,187 29,891 Average age Survivors Number 2, ,287 2,181 Average age Entitled to a deferred pension Number 6, ,330 7,455 Average age Members transferred out of the Plan (with past entitlements remaining in the Plan) Number 1, ,231 n.a Grand Total 59,891 2, ,593 1,560 71,744 72,332 Page 17
18 Pension Information Committee Report (con t) Evolution of membership 45,000 40,000 35,000 30,000 25,000 20,000 15,000 10, , Retirees and survivors Actives accruing DB service Actives accruing DC benefits (including members with past DB service) Page 18
19 Pension Information Committee Report (con t) Age distribution for retirees and survivors 7, ,475 5,447 4,762 3,809 2,893 1, < Retirees Survivors Age Average age for retirees : 68.8 Average age for survivors : 74.6 Page 19
20 Pension Information Committee Report (con t) Disbursements Page 20
21 Pension Information Committee Report (con t) Financial position (in millions) December 31, 2010 December 31, 2009 Actuarial assets ¹ DB arrangement Market value ² $11,692.7 $10, Unrecognized gain/(loss) $268.9 $782.5 Total $11,961.6 $11,078.7 DC arrangement $186.5 $148.6 Total $12,148.1 $11,227.3 Actuarial liability Solvency ³ DB arrangement Active members $3,646.6 $3,229.9 Retirees and other members $9,564.2 $9,140.1 Total $13,210.8 $12,370.0 DC arrangement $186.5 $148.6 Total $13, $12,518.6 Going concern DB arrangement Active members $3,553.1 $3,308.3 Retirees and other members $8,197.3 $7,747.8 Total $11,750.4 $11,056.1 DC arrangement $186.5 $148.6 Total $11,936.9 $11,204.7 Actuarial surplus/(deficit) Solvency ($1,249.2) ($1,291.3) Going-concern $211.2 $ Used dfor the going-concern and dthe solvency calculations. l 2 Including voluntary pension contributions of $803.3 million in excess of the minimum amortization payments and other required payments for Including wind-up expenses of $13 million. Page 21
22 Pension Information Committee Report (con t) Contributions In 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 may contribute to the pension fund (in millions) DB arrangement Minimum Contributions Requirements Maximum Eligible Contributions Amortization payment $410.5 ¹ $1, Normal cost $158.2 $158.2 Total $568.7 $1,676.3 DC arrangement $40.5 $40.5 Total $609.2 $1,716.8 ¹ 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, The Employer will may make larger amortization payments, up to the total unfunded actuarial liability or solvency shortfall using market value of assets Page 22
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