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Path Forward

The origin of DIPAC and its predecessor organization was one of closely monitoring INVISTA and obtaining and commenting of all pension documents filed with the regulator (FSCO); especially since INVISTA is a private company. At the time, FSCO was our only source of information. In November 2006, the Ontario government appointed Harry Arthurs to develop a plan on how to better improve and secure defined benefit pension plans. DIPAC made a presentation to the Commission in Kingston and we subsequently had numerous meetings with politicians, bureaucrats and whoever would listen to us. Two years later, the Arthurs report was published and it contained very definitive and outstanding recommendations towards the objective. DIPAC in conjunction with the Canadian Federation of Pensioners (CFP) had numerous meetings with both the politicians and bureaucrats at Queens Park attempting to convince them to adopt the Arthurs recommendations. The net result is that the government passed two Bills with respect to improving the Pension Benefit Act; which, in total, were very disappointing. As well, many regulations in support of the two Bills have yet to be issued.

As both the Federal and Ontario governments have done very little to improve pension security and are most unlikely to implement needed reforms in the future, the DIPAC Board of Directors have decided to return to our original mandate. Our focus will shift from one of lobbying / advocating the two levels of government to one of supporting/working/following INVISTA. A strong pension plan depends on a viable and profitable sponsor and our future lies with INVISTA as it always did.

DIPAC will maintain its CFP membership as they are better equipped to advocate at all levels of government. It is also a good forum for information and network contacts.
However, given our reading of the current overall environment, your DIPAC Board feels we will utilize our time better by concentrating on INVISTA matters.

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Posted on Monday, 12 October 2020
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