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The Canadian Blood Services Defined Benefit (DB) Pension Plan is administered by a Board of Trustees, made up of Trustees appointed equally by Canadian Blood Services and the Participating Unions.

Current board members Funding Valuation
The role of the Trustees Funding Policy
Financial Statements
Statement of Investment Policies and Procedures
Record of decisions


Current board members

The current Board members are:

Canadian Blood Services Trustees Union Trustees
Pauline Port (co-chair)
Vice-President, Corporate Services & CFO
Cheri Hearty
Ontario Public Service Employees Union
Elaine Sibson
Canadian Blood Services Board of Directors
Brendan Dick (co-chair)
Hospital Employees' Union
BC Health Service Division (CUPE)
Watson Gale
VP General Counsel & Corporate Secretary
Fil Falbo
Ontario Nurses’ Association
Andrew Pateman (alternate)
Vice President, Talent Management & Corporate Strategy
Deborah Ducharme
British Columbia Nurses’ Union

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The role of the Trustees

The Canadian Blood Services Defined Benefit Pension Plan is administered by a Board of Trustees made up of six Trustees - three appointed by Canadian Blood Services and three appointed by the Participating Unions, in accordance with the Trust Agreement. In addition, there is an employer alternate Trustee and a union alternate Trustee.

There are two co-chairs of the Trustees - one appointed by the union Trustees and one appointed by the employer Trustees. They alternate chairing meetings, which are held at least four times a year.

The Trustees are responsible for interpreting plan rules and ensuring that the plan meets the requirements of all governing legislation.

Their responsibilities include the operation and administration of the plan itself, and custody, investment and management of the pension fund. This includes ensuring that contributions to the plan are remitted in a timely fashion and invested in accordance with the plan's investment policy. The Trustees establish, review and adjust the investment policy to achieve returns that will allow the pension fund to meet the obligations of the plan. In addition, the Trustees ensure that members receive annual statements, that termination and retirement benefits are paid, and that proper records are kept. The Trustees approve payment of plan expenses required to carry out these duties, ensure that financial statements are prepared reporting contributions, investment returns, and payments from the fund. These statements are subject to an annual audit.

The Trustees are also responsible for ensuring that an actuarial valuation is done (at least every three years). An actuarial valuation is a forecast of the plan's obligations and assets. It is used to determine the level of required contributions for the period covered by the report - normally three years - and to determine if there is a surplus (more assets than liabilities) or a deficit (more obligations than assets). A surplus may be held as a reserve against future performance or experience losses, used to improve benefits or used to reduce the cost of the plan (the level of required contributions). The plan text specifies how any deficit must be reversed and may result in an increase in contributions. The Trustees also approve the assumptions and methodology used in the valuation. Actuarial valuations are provided to the plan's sponsors (Canadian Blood Services and the Participating Unions) for information.

In carrying out their responsibilities, the Trustees may engage the services of professional firms and consultants.

Mercer is the plan actuary. Morneau Shepell Ltd provides Third Party Administration services. Aon Hewitt is the Trustees' investment consultant. The Trustees have selected a number of investment management firms to invest the assets of the pension plan: Blackrock, Harding Loevner, Leith Wheeler, and Triasima. RBC is the Custodian of the plan's assets.

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Record of decisions

The Trustees meet periodically to review the plan. Below you will find the Record of Decisions from all Board of Trustees meetings.

 1999 Record of Decisions

 2000 Record of Decisions

 2001 Record of Decisions

 2002 Record of Decisions

 2003 Record of Decisions

 2004 Record of Decisions

 2005 Record of Decisions

 2006 Record of Decisions

 2007 Record of Decisions

 2008 Record of Decisions - Trustees Meeting #39 - March 31

 2008 Record of Decisions - Trustees Meeting #40 - June 2

 2008 Record of Decisions - Trustees Meeting #41 - September 12

 2008 Record of Decisions - Trustees Meeting #42 - December 5

 2009 Record of Decisions - Trustees Meeting # 43 - March 9

 2009 Record of Decisions - Trustees Meeting # 44 - June 9

 2009 Record of Decisions - Trustees Meeting # 45 - September 14

 2009 Record of Decisions - Trustees Meeting # 46 - November 27

 2010 Record of Decisions - Trustees Meeting # 47 - March 29

 2010 Record of Decisions - Trustees Meeting # 48 - May 27

 2010 Record of Decisions - Trustees Meeting # 49 - September 13

 2010 Record of Decisions - Trustees Meeting # 50 - November 2-3

 2011 Record of Decisions - Trustees Meeting # 51 - February 28

 2011 Record of Decisions - Trustees Meeting # 52 - June 3

 2011 Record of Decisions - Trustees Meeting # 53 - September 26

 2011 Record of Decisions - Trustees Meeting # 54 - December 2

 2012 Record of Decisions - Trustees Meeting # 55 - March 5

 2012 Record of Decisions - Trustees Meeting # 56 - June 5

 2012 Record of Decisions - Trustees Meeting # 57 - August 30

 2012 Record of Decisions - Trustees Meeting # 58 - September 24

 2012 Record of Decisions - Trustees Meeting # 59 - December 3

 2013 Record of Decisions - Trustees Meeting #60 - March 22

 2013 Record of Decisions - Trustees Meeting #61 - June 03

 2013 Record of Decisions - Trustees Meeting #62 - September 24

 2013 Record of Decisions - Trustees Meeting #63 - December 2

 2014 Record of Decisions - Trustees Meeting #64 - March 17

 2014 Record of Decisions - Trustees Meeting #65 - May 22

 2014 Record of Decisions - Trustees Meeting #66 - September 25

 2014 Record of Decisions - Trustees Meeting #67 - December 5

 2015 Record of Decisions - Trustees Meeting #68 - March 25

 2015 Record of Decisions - Trustees Meeting #69 - June 9

 2015 Record of Decisions - Trustees Meeting #70 - October 7-8

 2015 Record of Decisions - Trustees Meeting #71 - November 30

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Funding Valuation

 2010 Valuation Report

 2013 Valuation Report

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Funding Policy

 Funding Policy

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Financial Statements

 2005 Financial Statements

 2005 Comments from the Trustee Co-Chairs

 2006 Financial Statements

 2006 Comments from the Trustee Co-Chairs

 2007 Financial Statements

 2007 Comments from the Trustee Co-Chairs

 2008 Financial Statements

 2008 Comments from the Trustee Co-Chairs

 2009 Financial Statements

 2009 Comments from the Trustee Co-Chairs

 2010 Financial Statements

 2010 Message from the Trustees

 2011 Financial Statements

 2011 Message from the Trustees

 2012 Financial Statements

 2012 Message from the Trustees

 2013 Financial Statements

 2013 Message from the Trustees

 2014 Plan Year in Review message from the Trustee Co-Chairs

 2014 Financial Statements

 2015 Year in Review

 2015 Financial Statement

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Statement of Investment Policies and Procedures

 2005 SIP&P

 2006 SIP&P

 2007 SIP&P

 2008 SIP&P

 2009 SIP&P

 2013 SIP&P

 2014 SIP&P

 2015 SIP&P

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