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THE ONTARIO EXPERT COMMISSION ON PENSIONS

THE ONTARIO EXPERT COMMISSION ON PENSIONS. ACTION TO DATE Robert L. Brown Director of Research November 30, 2007 Canadian Institute of Actuaries. CHAIR: Dr. Harry Arthurs EXPERT ADVISORS: Bob Baldwin Economist, Infometrica Kathryn Bush Lawyer, Blakes

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THE ONTARIO EXPERT COMMISSION ON PENSIONS

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  1. THE ONTARIO EXPERT COMMISSION ON PENSIONS ACTION TO DATE Robert L. Brown Director of Research November 30, 2007 Canadian Institute of Actuaries

  2. CHAIR: Dr. Harry Arthurs EXPERT ADVISORS: • Bob Baldwin Economist, Infometrica • Kathryn Bush Lawyer, Blakes • Murray Gold Lawyer, Koskie Minsky • Ian Markham Actuary, Watson Wyatt STAFF OF SEVEN

  3. ESTABLISHED NOVEMBER 2007TO REPORT BY “SUMMER” 2008

  4. JANUARY 2007PRODUCED 21 PAGE DISCUSSION PAPER(www.pensionreview.on.ca/english)

  5. CONSULTATIONS ON DISCUSSION PAPERFUNDING AND FINANCE: FEB. 22-23ECONOMIC AND SOCIAL: MARCH 30LEGAL AND REGULATORY: APRIL 6

  6. RESEARCH STUDIES MANY NOW AVAILABLE ON OUR WEBSITE www.pensionreview.on.ca/english/

  7. Mandate #1 • Mapping the Provision, Funding and Adequacy of Occupational Pension Plans and of Retirement Income: What Do We Know? Richard Shillington, Infometrica Ltd.

  8. Mandate #2 • Modeling the Prospective Role of Occupational Pension Plans in the Retirement Savings and Income of Ontarians Sébastien LaRochelle-Côté, Statistics Canada Garnett Picot, Statistics Canada John Myles, University of Toronto

  9. Mandate #3 • The Impact of “Exogenous” Factors on Pension Plan Coverage and Funding Gordon Clark, University of Oxford With Adam Dixon Ashby Monk Kendra Strauss

  10. Mandate #4 • Comparative Funding Regimes in Canada and OECD Colin Pugh (FCIA) Manchester Metropolitan University (Ret’d)

  11. Mandate #5 • Comparative Models of Regulation of Risk Based Financial Services Mary Condon, York University

  12. Mandate #6 • Insuring Members and Pensioners Against the Risk of Plan Failure or Employer Insolvency – A Comparative Study Norma Nielson, University of Calgary

  13. Mandate #7 • Arguments About Asymmetry of Risks and Rewards and Deferred Wages in Pension Plans James Wooten, University of New York at Buffalo

  14. Mandate #8 • Analysis of Efficiency of Pension Regulation in Ontario Lorne Sossin, University of Toronto

  15. Mandate #9 • Actuarial Issues Related to Major Changes to Pension Plans • Determining Funding and Financing Impact • “What if” Scenarios Brian FitzGerald (FCIA)

  16. Mandate #10 • Protecting the Pension Fund Ron Davis, University of British Columbia

  17. Mandate #11 • Analysis of Multi-Employer Pension Plans and Similar Entities (MEPPs, MUPPs & JSPPs) Elizabeth Shilton, University of Toronto

  18. Mandate #12 • Alternative Governance Models: Vehicles for Collective Provision of Pension Services: Pension Plans for Small and Medium Sized Enterprises Teresa Ghilarducci, University of Notre Dame

  19. Mandate #13 • Analysis of Factors Leading to Restructuring and Insolvency and their Effects on Pension Plan Wind-Ups and Closures Janis Sarra and Ron Davis, University of British Columbia

  20. Mandate #14 • Economic Impact of Pension Fund Investments in Ontario Poonam Puri, York University

  21. Mandate #15 • Pension Plans and Labour Force Characteristics Morley Gunderson, University of Toronto

  22. Mandate #16 • Tax Policy and Pension Plans Jinyan Li, York University

  23. Mandate #17 • Mapping Legislative Provisions Across Canada Ontario Bar Association, Pensions and Benefits Section

  24. INTERNAL RESEARCH • Four smaller mandates (e.g., description of Pension systems in other countries)

  25. Association of Canadian Pension Management Canada’s Association for the Fifty-Plus Canadian Auto Workers Canadian Institute of Actuaries Canadian Federation of Independent Business Canadian Labour Congress Canadian Manufacturers & Exporters Canadian Union of Public Employees (CUPE) – Ontario Congress of Union Retirees of Canada General Electric List of Stakeholders

  26. General Motors Great West/Canada Life/London Life Major Ontario Pension Plans Multi-Employer Benefits Council Ontario Bar Association Ontario Chamber of Commerce Ontario Federation of Labour Ontario Public Sector Unions (OPSEU) Ontario Public Service (OPS) Ontario Teachers’ Federation Ontario Teachers’ Pension Plan Board List of Stakeholders Cont’d

  27. PUBLIC HEARINGS TORONTO: October 17, 18, 19, 23, 24 November 7, 14 KINGSTON: October 31 OTTAWA: November 1 HAMILTON: November 13 WINDSOR: November 15

  28. SUBMISSIONS RECEIVED: 85 Some are small individual “notes” Placed on Web Site November 22 (www.pensionreview.on.ca/english

  29. SUBMISSIONS/HEARINGS • Association of Management, Administrative and Crown Professional Employees of Ontario (AMAPCEO) • Pension Investment Association of Canada (PIAC) • Hospitals of Ontario Pension Plan (HOOPP) • Police Association of Ontario (PAO) • Police Retirees of Ontario • Ontario Confederation of University Faculty Associations (OCUFA) • Council of Ontario Universities (COU) • OPSEU Pension Trust • OPSEU Union

  30. Association of Canadian Pension Management (ACPM) • C.D. Howe Institute • Nursing Homes and Related Industries Pension Plan • Ontario Chamber of Commerce • Financial Executives International Canada • Keith Ambachtsheer • Ontario Federation of Labour (OFL) • Canadian Association for 55+ (CARP) • OMERS

  31. Municipal Retirees Organization of Ontario • Ontario Bar Association (OBA) • International Association of Machinists & Aerospace Workers (IAMAW) • Social Investment Organization • Ontario Region of Communications, Energy & Paperworkers Union of Canada • Ontario Teacher’s Pension Plan • Ontario Secondary School Teachers’ Federation (OSSTP) • United Steel Workers (USW) Canada • Morneau Sobeco

  32. Blakes • Koskie Minsky • Osler Hoskins • Union Pension Services Ltd. • Multi-Employer Benefit Plan Council of Canada (MEBCO) • Towers Perrin • Canadian Federation of Independent Business (CFIB) • Buck Consultants (2) • Canadian Union of Public Employees

  33. National Pensioners & Senior Citizens Federation • Watson Wyatt • AON • Ontario Pension Board (OPB) • Toronto Transit Commission Pension Fund Society • Mercer • Association of Municipalities of Ontario (AMO) • Ontario Professional Fire Fighters • United Food & Commercial Workers

  34. Colleges of Applied Arts & Technology Pension Plan (CAAT) • College & University Retirees Association • Canadian Institute of Actuaries (CIA) • Canadian Labour Congress (CLC) • Federal Superannuates National Association (FSNA) • Welton, Parent • Canadian Federation of Pensioners • CAW – Retired Workers • 25 + Others

  35. THE FUTURE Consider Report Framework Revisit Stakeholders Write Report Submit by September, 2008

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