| Second Day | TUESDAY JUNE 6TH |
| 7:15 AM - 8:00 AM | Breakfast |
| 8:00 AM - 9:15 AM | Keynote Sesssion: The Great ReWrite We are living in a unique moment in history, when revolutionary change is occurring at a frenzied pace. Whereas the Industrial Revolution took over a century to cement, widespread change now happens in decades, or even in just years. In fact, the last five years have been some of the most tumultuous in history, coming on the end of the financial crisis and giving way to huge bounds in technological advancement in every sector.
While change used to happen from the top down, through governments and management, change now happens from the ground up, with savvy entrepreneurs dictating everything from new technology, to currency, to banking practices, to what’s being called “the internet of things”.
This massive scale of disruption has understandably left organizations on shaky footing, struggling to to engage consumers and employees alike and stay relevant. Those that learn to adapt to this rapid pace of change, that allow themselves to be “rewritten” for the modern day, will survive and prosper. Leonard Brody
Business and Technology Visionary |
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| 9:30 AM - 10:30 AM | Simultaneous Sessions 1-2-3 |
| 9:30 AM - 10:30 AM | Session 1: Pension Plan Administrative Risk, or How I Learned to Stop Worrying and Love the Law Avoiding risk is like avoiding the weather. You can do what you can to forecast, but, eventually, it’s going to pour rain on a sunny day. Risk management, and, in particular, legal risk management, can’t stop the rain, but it can give you an umbrella.
Plan administrators face risks. Plans are complex mini- (or not so mini-) financial institutions. This session will focus on the risks facing plan administrators. Although the focus will be legal and related risks, we’ll have an open discussion about other types of risk as well. In particular, in this interactive session, we’ll talk about best practices, dealing with the unexpected, and because the presenter is an unabashed lawyer, how not to get (successfully) sued. Mark Firman, Legal Counsel, Ontario Teachers' Pension Plan
Attend this session to learn:
1. Recognizing the stakes: Identifying the big problems with small oversights
2. Documenting decisions, policies and processes to withstand legal and regulatory challenge
3. When to let go: Balancing aspirations and reality in pension plan administration
4. La(w)yers of risk: How to effectively use internal and external legal counsel
Who should attend this session:
Plan administrators and their advisors, and, in particular: managers and staff with responsibility for pensions and benefits; pension and benefit trustees, board members and committee members; third-party service providers (actuaries, lawyers and governance consultants); regulators. Session 2: Benefits Rethinking Drug Plan Strategies We are in a new world with respect to drug plan spending. This presentation will discuss the trends, the issues, and the strategies to deal with rising drug costs and what needs to be done to keep employer sponsored drug plans sustainable into the future. The discussion about strategies for controlling costs will focus on carriers and the growing need for them to engage with external players like the CLHIA, the PMPRB, and pharmaceutical manufacturers.
Barb Martinez, Practice Leader, Benefits Solutions, The Great-West Life Assurance Company
Stephen Frank, Vice President of Policy Development and Health, Canadian Life and Health Insurance Association
Doug Clark, Executive Director, Patented Medicine Prices Review Board, Canadian Competition Bureau
Session 3: Investment Populism & Protectionism: The Impacts on the Global Economy and Capital Markets Recent events have shown a growing trend of populism, such as Brexit and the election of Donald Trump. Will this trend continue and if so, what will be the impact of protectionist measures on the World Economy, central banks, and ultimately on financial markets? Jean-Pierre Couture, Chief Economist & Portfolio Manager, Emerging Markets, Hexavest Attend this session to learn:
- Understanding of populism & protectionism
- The reasons behind populism’s recent gain in popularity
- Impacts of protectionism on economic growth
- Impact of protectionism on financial markets
Who should attend this session:
Investors, pension sponsors, consultants, investment managers, financial and economic community Session 4: DC Plan Trends – Building Diversity into your DC Plan This is an important time for diversity and inclusion in Canada. Organizations sit at a crossroads with the shift in future savings for employees from Defined Benefit to Defined Contribution retirement plans. The time has come for us to think and act differently. Looking forward, Canadians are presented with choices that can lead to not only positive changes for the lives of female workers but also to the Canadian economy. Organizations that reflect society in gender and ethnic representation are proven to have higher attraction, retention, and motivation of employees, and higher rates of growth. This session will explore the gender gap and bring awareness to action for plan sponsors.
Jillian Kennedy, Partner, Mercer
Attend this session to learn:
- Why a gender gap exists
- The impact to financial wellness
- Global trends and what worked
- Actions that can be taken to develop a strategy
Who should attend this session: This session will appeal to all members of an organization that are responsible for DC Plan governance, from Human Resources to members of a Pension/Retirement Committee |
| 10:30 AM - 11:00 AM | Break and Exhibition |
| 11:00 AM - 12:00 PM | Simultaneous Sessions 5-6-7-8 |
| | Session 5: Pension DB Pension Plans – Is Sustainability a myth? In these uncertain economic times, what plan sponsors and plan members really want is a pension plan that is sustainable. Is that a realistic goal, and what can be done to ensure viability long into the future for all stakeholders? Join Paul as he walks through the definition of sustainability and what has been done to attain that goal.
Paul will also share how plans can create a supporting structure that allows them to be viable for the long haul.
Paul Lai Fatt, Morneau Shepell Attend this session to learn: - Understanding pension challenges
- Understanding of stakeholder perspectives
- High level knowledge of pension sustainability solutions across Canada
- Approaches for individual plans and their stakeholders to address sustainability
Who should attend this session: Any pension plan stakeholder or public policy maker Session 6: Benefits
The Changing Perception of Trauma and its Impact in the Workplace Dr. Malain is a leader in the field of workplace psychology and provides training at regional and national conferences across North America. In this presentation, she will discuss the value of early and ongoing appropriate intervention to the employee, the employer and the insurer. ROI of early detection, intervention, treatment and support. Dr.Ann Malain, Executive Vice-President, Stay at Work Services, Homewood HealthAttend this session to learn:1. To learn about recent changes in legislation that impact how trauma is managed in the workplace.
2. How to foster a psychologically healthy workplace.
3. How to identify PTSD.
4. How PTSD can impact both employees and the bottom line. Who should attend this session: - Those with an interest in Benefits & Wellness Session 7: Investment
Reducing carbon emissions : What challenges are we facing? In December 2015, at the COP21 Paris climate conference, representatives from most countries agreed to cap, and then reduce, CO2 emissions in order to limit global warming. While there may be consensus as to the objective, achieving it will be much more difficult than most people imagine. Burning fossil fuels has permitted the increase in the standard of living which Western and, recently, a number of Far East countries have enjoyed. There is a strong correlation between energy usage and GDP, which is a proxy for standard of living. The elephant in the room is population increase: the United Nations has forecast that the world’s population should increase by about 50% by the end of this century. This means billions of people who will need food, want a car, and want a mobile phone. At this time, fossil energies represent 80% of all energy used worldwide. The remaining 20% includes nuclear, hydroelectric, biofuels, wind and solar energies. While we hear almost every day that wind and solar represent the future, a low-carbon economy is still a distant reality. For example, the intermittency of wind and solar energies present a major hurdle. Unlike nuclear, coal and hydro energies, wind and solar are not available continuously, so wind and solar utilities require storage and back-up systems which increase their costs and reduce their efficiency. Among others, Germany and Ontario have developed renewable energy programs that present significant challenges. I will address these and other difficulties we are facing. Jean Michaud, Managing Director & Senior Commodity Strategist, Core Commodity Management, USA
Attend this sesson to learn:
- What is the importance of energy in everyone’s life?
- What is the impact of increasing population?
- Can we integrate intermittent energies?
- By how much do we have to reduce our carbon emissions to achieve a 20 C increase?
Who should attend this session:
Everyone how cares about these questions Session 8: Populisme et protectionnisme: l’impact sur l’économie mondiale et les marchés des capitaux
Jean-Pierre Couture, Économiste en chef et gestionnaire de portefeuille, marchés émergents
La récente victoire de Donald Trump et le Brexit sont deux événements marquant une tendance populiste et protectionniste. Est-ce le début d’un mouvement généralisé, et si oui, quels en seront les impacts sur l’économie mondiale, les banques centrales et ultimement sur les marchés des capitaux?
Participer pour apprendre: 1. Éduquer sur ce qu’est le populisme et le protectionnisme
2.Les raisons derrière l’engouement vers ce mouvement populisme
3. L’impact du protectionnisme sur l’économie mondiale
4. L’impact du protectionnisme sur les marchés des capitaux
Cette séance s'adresse aux:
Investisseurs, régimes de retraite, consultants, gestionnaires de fonds, communauté économique |
| 12:00 PM - 2:00 PM | Lunch & Speaker Lunch Guest speaker: Virologist Dr. Jim Strong Outbreaks: What keeps a High Containment Researcher Up at Night? Virologist Dr. Jim Strong
From the National Microbiology Laboratory. Speaking from his own experiences on the ground, fighting Ebola. |
| 2:00 PM - 3:00 PM | Simultaneous Sessions 9-10-11-12 |
| | Session 9: Pension
Longevity Risk : Addressing a Global Challenge, How to Offset the Financial Implications?
Don Ezra, consultant, Don Ezra Consulting Services
You’ve done everything according to the accumulation playbook, and you arrive at retirement — but there’s no decumulation playbook. Here’s how to think about the three goals most DC participants will strive for, and how to re-think our traditional investment instruments. Attend this session to learn:
1. Recognise the different financial positions people find themselves in, after retirement.
2. Understand the average retiree’s competing financial goals.
3. Compare the relative sizes of financial risk arising from uncertain longevity and uncertain equity returns.
4. Understand why immediate annuities and deferred annuities feel so different.
5. Identify the principles sponsors need to satisfy if they want to construct a default decumulation option for retirees.
Who should attend this session:
DC sponsors in particular, since my goal is to tell them what their participants want and need and how those needs can be met, ending with challenges to them. But financial advisors and DC participants will also get a lot from the session, and one of my appeals is also directed to insurance companies. Anybody who has no possible connection with decumulation can stay away! Session 10: Benefits Benefitting in the Platform Economy Our industry is rapidly changing with several disruptive forces placing pressure on the benefits business. Learn how platform-based exchanges are an innovative response to the changes. Get an overview of the American experience and what’s happening in Canada. You’ll discover the importance of technology and data-driven solutions.
Lisa Callaghan, VP Strategy, Marketing and Communications, Institutional Markets, Manulife Attend this session to learn:
- Identify why the benefits industry is prone for disruption and learn how as an industry we can prepare for this
- Review the adoption of platform-based benefits exchanges in the US market and lessons learned
- Outline potential pros and cons of a platform-based model for plan sponsors and plan members
- Discuss whether platforms offer an opportunity for more holistic benefits programs
Who should attend this session:
Plan sponsors, Consultants, Advisers Session 11: Investment Enhancing diversification and returns with private debt Investor interest in private debt has grown considerably over the past few years, making it one of the fastest-growing elements within alternative asset allocations during this period. This session will discuss the typical structure of private debt, its risk and return characteristics, and its role within an institutional investment portfolio. It will also outline the market size, level of investor interest, key drivers of the strategy, and diversification benefits pertaining to private debt strategies. Notable advantages of the strategy vis a vis other investment options will be discussed, as well as key challenges relating to assessment and implementation. Insights into appropriate asset allocation and portfolio construction will be shared. An outlook as to the expected trajectory of the strategy over the next several years, as well as important structural factors that may impact that trajectory, will be presented. David Fann, President & CEO, Torrey Cove Attend this session to learn: - General structure of private debt investments, along with variations
Key advantages of strategy (role in portfolio) – diversification, yield enhancement, risk reduction
- Size of potential investment universe, major players, activity levels
- Portfolio construction and suggested allocation
- Key market drivers – banking sector regulation/reduced competition, pending refinance activity and new deal flow, structural limitations of high yield markets
- Challenges relating to deploying capital and assessing managers
- Outlook over the next one to five years in terms of growth, profitability, competition, and regulatory environment
Who should attend this session: Fiduciaries and investment management staff relating to public pensions, high net worth and family offices, endowments, foundations, and other institutional investors. This will include consultants and advisors, general consultants, board members, and investment staff, particularly from the alternatives and fixed income practices, but also including professionals with duties that encompass investment selection, asset allocation, and portfolio management. Session 12: Wellness La réduction des émissions de carbone: Quelles sont les difficultés auxquelles nous faisons face? En décembre 2015, lors de la conférence COP21 à Paris, des représentants de la plupart des pays ont convenu de plafonner, puis de réduire, les émissions de CO2 afin de limiter le réchauffement climatique. Bien qu'il puisse y avoir consensus quant à l'objectif, les efforts requis seront beaucoup plus exigeant que la plupart des gens imaginent. L’utilisation des combustibles fossiles a permis d’atteindre le niveau de vie dont les pays occidentaux et un certain nombre de pays d'Extrême-Orient bénéficient. Il existe une forte corrélation entre la consommation d'énergie et le PIB, qui est un indicateur du niveau de vie. Une question critique dont personne ne parle est l'augmentation de la population: les Nations Unies prévoient que la population mondiale devrait augmenter d'environ 50% d’ici la fin du siècle. Cela signifie des milliards de personnes qui auront besoin de nourriture, voudront une voiture, un téléphone mobile, etc. En ce moment, les énergies fossiles représentent 80% de toute l'énergie utilisée dans le monde. Les 20% restants comprennent les énergies nucléaire, hydroélectrique, biocarburants, éolienne et solaire. Alors que nous entendons presque tous les jours que le vent et le soleil représentent l'avenir, une économie à faibles émissions de carbone est encore loin. Par exemple, l'intermittence des énergies éolienne et solaire constitue un obstacle majeur. Comme ces énergies ne sont pas disponibles en permanence, contrairement aux centrales nucléaires, au charbon et hydroélectriques; les éoliennes et panneaux solaires exigent des systèmes de stockage ainsi que des sources d’appoint qui en augmentent les coûts et en réduisent l’efficacité. L'Allemagne et l'Ontario ont, entre autres, élaboré des programmes d'énergie renouvelable qui présentent des défis importants. Lors de ma présentation, je vais aborder ces questions. Jean Michaud, Managing Director & Senior Commodity Strategist, Core Commodity Management, USA |
| 3:00 PM - 3:30 PM | Break and Exhibition |
| 3:30 PM - 4:30 PM | Simultaneous Sessions 13-14-15-16 |
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Session 13: Pension
Global Trends in Decumulation
Mazen Shakeel, Vice-President, Market Development, Group Retirement Services, Sun Life Financial
Fact: 1,000 Canadians are expected to retire every day for the next 20 years. With this wave of retirements expected from the Canadian workforce, and the increasing importance of Capital Accumulation Plans as a foundation for retirement savings, focus in the retirement industry is rightly shifting to "decumulation". What is the right balance of product innovation and service innovation that's needed to deal with the complex challenges that decumulation brings? What are some of the barriers that we need to help Canadian plan sponsors overcome? Join Mazen Shakeel for a quick tour of global best practises and how we can learn from them. Session 14: Benefits Implementing Precision Health Into Practice
Scientific data is doubling every 1.3 years. Technologies in molecular-level analysis are rapidly advancing and able to deliver precise, personalized health information. It takes big data analytics and algorithms to compare molecular profiles with global literature and turn it into useful information for practitioners and patients. The integration of the multiple omics data has the opportunity to provide comprehensive personalized health insights to payers in Canada. With precision health tools, practitioners and patients can make informed health decisions based on their individual profile. The result – a proactive approach to health that not only improves the quality of life for patients but delays or prevents the onset of disease and the costs associated. Rob Fraser, Ph.D., President & CEO, Molecular You Attend this session to: - Comprehensive molecular profiling
- Translating big data to usable and actionable information
- Using precision health for preventative care and health maintenance
- How new technologies will bring efficiencies to healthcare
Who should attend: Plan sponsors and plan providers interested in understdanding the impact of precision medecine on employee health and lowering payables Session 15: Investment Behaviourial Finance, Efficient Markets and Passive Investing: How Theory Fails The assumptions and methodology behind the Efficient Market Theory (EMT) will be discussed and evaluated in terms of what we have learned from Behaviourial Finance. Differences between Fundamental Securities Analysis and EMT methodology will be hi-lited that indicate where the common-place use of EMT may distract or even prevent investors from achieving their objectives. Issues discussed will include EMT’s assumption of markets as rationale, the definition of risk as volatility and the effect of dealing in asset classes rather than specific securities. Principles of fundamental Value investing including Market Price vs Intrinsic Value, Speculation vs Investing, Ownership vs Trading and a focus on Income will be discussed and contrasted with the Passive process suggested by the EMT.How Active management can benefit from Behaviourial Finance to add value over Passive management, and how flaws in the Efficient Market Theory (which leads to Passive management) can lead to underperformance on investment returns. Henry Hudek, Vice-President, Business Development, Cardinal Capital Management Attend this session to learn: - Achieve a better understanding of what underlies EMT.
- Learn what questions might be asked to make better use of EMT in investment decisions.
- Learn fundamental differences between the principles of Value Investing and EMT, and how they can impact investment results, negatively and positively.
- Give consideration to how the current practice of EMT “frames” the investment decision. Who should attend this session: - Investment Managers
- Members of Investment Committees
- Investment Consultants |
| 6:30 PM - 7:00 PM | Reception at the Delta Hotel |
| 7:00 PM - 9:00 PM | FORUM Gala Evening Dinner and CPBI 2017 Hall of Fame Celebration
Featuring JP Hoe and his Band |
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