Vancouver Webcast Accountable to You 4th Annual General Meeting October 15, 2005

2 Today’s Meeting 9:30 amOpening 9:45 amPresentation: Pension and Other Benefits 10:15 amPresentation: Fund Investments 10:45 amCoffee Break 11:00 amQuestion and Answer Session 11:45 amPresentation: Financial & Operational Review 12:15 pmQuestion and Answer Session 1:00 pmClosing

3 Plan Governance Agents Administrators Sponsors Joint Trust Agreement

4 Plan Partners  Employee Partner  Municipal Employees Pension Committee, composed of unions representing members in the plan  Employer Partners  Province of BC, funder for health, education, post-secondary sectors  Union of BC Municipalities, representing municipal and regional employers

5 Appointing Authorities – Employees  BC Federation of Police Officers & Professional Firefighters Association  BC Nurses Union  Canadian Union of Public Employees  Council of Joint Organizations & Unions  Health Sciences Association of BC  Hospital Employees Union  Municipal Employees Pension Committee  One representing active members  One representing retired members

6 Appointing Authorities – Employers  BC Public School Employer Associations  Health Employers Association of BC (two members)  Province of BC (two members)  Union of BC Municipalities (two members), and  Province of BC & Union of BC Municipalities  Representing excluded members

7 Trustees Province of BC UBCMHEABCBCPSEA Excluded Members HEUCUPEHSABCBCNUPolice/FireCOJOUMEPC Retired Members Louise Mercer Bruce Kennedy Frank Leonard vacant Lyn Vandermey John Johnston Joe Strain Ken Bayne Brendan Dick Maria Wahl Dennis Blatchford Sharon Saunders Harold Heyming Brian Northam Gary Johnson Steven Polak John Davison Lori Wanamaker Malcolm Brodie Richard Taylor Louise Simard Pat Doyle Terry Killough vacant Kelly Knox Barry O’Neill vacant Andy Wiebe Todd Sweet Brian McConville Donisa Bernardo Fran Macdonnell Appointing Authority PrimaryAlternate

8 Agents Investment Services Plan Administration Legal CounselDavis & Company Plan ActuaryEckler Partners

9 Trustee Responsibilities  Responsible for all aspects of plan governance including:  Rules for granting pensions and other benefits  Contribution rates for employers and employees  Administration of the plan rules  Investment policies for plan assets  Final level of appeal (delegated to Appeals Panel)  Report on actuarial, financial and operational matters to partners and members

10 Actuarial Valuation  At least every three years  Long-term projection of plan assets & liabilities  Latest valuation as of December 31, 2003  Unfunded liability of $789 million  Contribution rate increase required (1.98%)  Member (0.99%)  Employer (0.99%)

11 COMMUNICATIONS

12 Communications  Employer web site enhancements (2005)  new security  e-remit  user management service

13 Communications  Member web site enhancements (2006)  new security access (PIN)  “My Account” services:  personalized pension estimator  copy of most recent member benefit statement  view current basic personal information

14 Communications  More information about the Board and its activities on the MPP web site  Board Governance section  Board Meeting Highlights posted after every Board meeting  Board policies posted  New: “Coming Up” section to indicate issues being considered by the Board

15 Communications  Strategic Communications Plan  Articles about pension topics in some union and employer newsletters  Board priority to continue to improve communication & consultation with all stakeholders  communications individually addressed to members  redesign of member communication products  use of plain language

16 Governance Initiatives  MPBT Investment Committee  Appeals Panel  Review of Group Benefits

17 Today’s Meeting 9:30 amOpening 9:45 amPresentation: Pension and Other Benefits 10:15 amPresentation: Fund Investments 10:45 amCoffee Break 11:00 amQuestion and Answer Session 11:45 amPresentation: Financial & Operational Review 12:15 pmQuestion and Answer Session 1:00 pmClosing