COVID-19 and our pensions
In recent weeks, we have been inundated with news about COVID-19 and the impacts it (together with an oil price war) is having on financial markets around the world. You may also have seen media reports about the effects that falling markets and lower interest rates have on pension plans.
Should BPG members be worried about their Bell pensions under these circumstances? The answer is no – fortunately, that is one less thing we need to worry about during these unsettling times! Here’s why:
First, the recent economic turmoil has no impact on your monthly pension. The amount is defined and is unaffected by changes in financial markets. As well, from a COVID-19 perspective, Bell has assured us that it has a robust business continuity plan in place to ensure that pensioner payments will continue to be made as usual.
Secondly, at the end of 2019, most of Bell’s pension plans were fully or close to fully funded on a solvency basis. Investments in the pension funds are well diversified, have sufficient liquidity, and are less risky than those in many other pension plans. So the funds were in a strong position going in to face the current financial challenges.
In recent years, Bell has taken measures to “de-risk” the pension funds. In other words, Bell has taken a number of steps to enable the funds to better weather financial downturns. We have not seen updated numbers from Bell that reflect the recent market changes. However, based on our ongoing discussions with the Company, we anticipate that the pension funds’ losses will be smaller than the equity market losses, thanks to these de-risking measures. As usual, any shortfall in plan funding will be assumed by Bell Canada.
The bottom line … one of the benefits of a Defined Benefit Pension Plan is that the plan sponsor (in our case, Bell) bears the risks associated with market volatility. With a strong plan sponsor like Bell, we can rest assured that our pensions can be counted on, regardless of wild swings in the market, like those we have been witnessing recently.
Bill C-228 is now before the Senate. We need your help to ensure it passes the Senate and receives Royal Assent.
The PIC report has been posted online at PIC.
In addition, BPG has provided highlights on the 2021 Bell Canada pension plan along with a 2022 update will be provided in your Holiday newsletters. Another value add offered by BPG. If you're not a member, sign up now.
We are pleased to let you know that two new reports prepared for the Federal, Provincial and Territorial Ministers Responsible for Seniors Forum are now available online
BPG Board – 2022-2023
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URGE YOUR MP TO SUPPORT BILL C-228
The Canadian Federation of Pensioners has developed a strategy to pressure the government to act
to help protect your pension and to support our members.
BPG continues to investigate the Bell Canada pension plan 1998 indexation matter and whether any redress is available to pensioners.
BPG has now obtained professional advice regarding the deductibility of legal expenses incurred by the affected pensioners for the indexation class action pertaining to the year 2017.
The Cost of Living Adjustment on Bell Canada pensions should be 2% in 2022 for pensioners under 65 years of age and 2.82% for pensioners 65 years and over - Updated for BCE, Bell Aliant and Télébec
The world's biggest conversation about mental health is January 26
Bell will be sending that information out by the end of January
BPG's response to our members' questions on Pension Indexation court approved deductions
being deductible as expenses
BPG is already aware about the 1998 indexation issue on the Bell Pension Plan
This year, The Personal will be distributing a total of $6.8 million to participants of the Bell home and auto insurance plan
Bell will be mailing out the personalized retroactive pension indexation adjustment statements from October 22nd to October 25th
After a hearing held July 9th, the Court approved the implementation plan
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Election 2021: Urge the Federal Party Leaders and Your Local Candidates to take the 100% Pension Promise Pledge before September 20th
We would really like to thank our partner The Personal
The Notice to all class members (participants to the Bell pension plan) has now been approved by the Court and is in the process of being sent to pensioners
We are looking for a volunteer willing to help us with our internal documents and storage on our repository.
BCE also announces election of Directors
Please note that the Go Green with Bell contest ends July 2, 2021
At least $1 billion in accelerated capital investment over the next 2 years.
The court has scheduled a conference of the parties on April 30th.
The Cost of Living Adjustment on Bell Canada's pensions should be 1% in 2021.
This is the latest information
Now more than ever! Bell Let's Talk Day sets new records.
Click HERE for more information
See the minutes, all the presentations along with the new Board of Directors. Click on "Read more" below.
Please note that from now on, this premium will be adjusted in January of each year rather than in July.
The company announced today it will be waiving residential Internet overage fees until January 4
With the pandemic and its consequences (e.g. mail delay), it is recommended that you submit your Health Care Program claims to ManuLife online.
In presenting its 1Q2020 results on May 7, 2020, BCE noted that the solvency ratio for the Bell DB pension plan declined from approximately 101% at the end of 2019 to approximately 100% at the end of March, 2020.
Should BPG members be worried about their Bell pensions under current circumstances? The answer is no.
On February 21, 2020, the appeal court rendered its decision which allowed the appeal and awarded judgment to the class action plaintiffs on behalf of all members of the class.
Bell had 60 days from the date of the Ontario Court of Appeal's decision to apply for leave to appeal to the Supreme Court of Canada. We understand that Bell has sought an extension to this deadline of an additional 60 days.
On Bell Let’s Talk Day, Canadians and people around the world joined in to help create positive change for people living with mental health issues.
The Cost of Living Adjustment on Bell Canada's pensions should be 2% in 2020.
What is your BPG membership fee used for? Here is another example.
Do you know your Board members?
In readiness for our AGMs (annual general meeting) of the BPG members, please consult the 2018 Financial Statements on the website. We hope to see you at your upcoming AGM.
The Cost of Living Adjustment on Bell Canada's pensions should be 2% in 2019.
The BPG Board of directors held its bi-annual meeting in Ottawa
Is there a pension-related term that you aren’t sure about? Why not consult our Glossary?
Class Action Regarding 2017 Pension Indexation
With pension plans so much in the news recently, we thought some of you might have additional questions, so we prepared a short Q&A document.
The BPG Board of directors held its bi-annual meeting in Montreal on April 26th & 27th 2018.
Did you know that the Federal Government does not have a Minister dedicated to Seniors’ issues?
A Bell pensioner has commenced a class action on behalf of all Bell defined benefit pensioners.
The Cost of Living Adjustment on Bell Canada's pensions should be 1% in 2018.
January 20, 2016 - Effective January 1, 2016 your Manulife contract numbers have changed. You should have received a new card in the mail
August 12, 2015 - Peter Dilworth, Sue Dawes (substitute), Michel Doyon and Yvan Dutrisac (substitute) are the PIC representatives for 2016-2018.
Every month you receive a payment covering your Bell pension. Have you ever wondered what backs up these payments, and what steps have been taken to make sure the payments keep coming? This article covers some of the basics of the Bell Canada defined benefit pension plan.
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The In Touch newsletter is published three times a year, in March, June and October. Do you have difficulty receiving it?
October 3rd, 2013 - Since June, the Bell Pensioners’ Group includes pensioners from Télébec, Télébec Mobility and BCE as well as active employees from Bell/BCE companies.
May 9, 2014 - With the price of stamps going up, imagine how much it will cost to send BPG newsletters to thousands of members every year. Subscribe to our electronic distribution list to obtain your newsletters by email.
May 9, 2014 - BPG now has its Facebook page to increase its visibility and, foremost, to make itself known to non-members.