BCE Pension Surplus

Overview

This proceeding concerns the ownership of surplus upon partial wind-up of a pension plan.

BCE went through a number of sales, divestitures and downsizings in the 1990s which resulted in the termination of a significant number of employees. In connection with these divestitures and downsizings, BCE implemented three partial wind-ups of the Pension Plan. The three partial wind ups were effective December 31, 1993, October 15, 1996, and December 31, 1999.

As a result of the Supreme Court of Canada’s decision in "Monsanto", BCE is required to deal with the distribution of surplus assets attributable to the Ontario portion of the three partial wind ups.

Active

Latest Developments

April 20, 2010

The parties are close to coming to terms for a comprehensive settlement. The BCE Ontario Employees’ Pensions Surplus Committee (the "Committee", formerly the REP Steering Committee) is finalizing negotiations with BCE toward a distribution of the surplus assets upon the partial wind-ups. The Committee is actively involved in this process with the Company and consulting with its legal counsel and actuarial advisors to assist them in designing this fair proposal for the affected members. The Committee is also continuing its liaising with the office of the Financial Services Commission of Ontario (FSCO). When further information becomes available, a mailing will be issued that describes any proposal reached in more detail.

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