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Donna Mitchell's Submission in Response to Finance Canada's Regulatory Framework for Federally Regulated Defined Benefit Pension Plans consultation:
From: Donna Mitchell
Sent: Wednesday, September 07, 2005 7:58 PM
Subject: Pension reform
Attention: Diane Lafleur, Financial Sector Policy Branch, Department of Finance
Dear Ms. Lafleur:
I am writing to support the Social Investment Organization in its brief to you of Aug. 25, in which it called for regulatory change to require pension funds under the PBSA to disclose their social and environmental policies and to make public their voting policies and voting records.
Social and environmental disclosure will ensure that pension funds consider the importance of critical long-term, non-financial factors as part of their risk management and value-added strategies. Proxy voting disclosure will require PBSA-pension funds to review their policies on their voting obligations, and to vote their shares in accordance with those policies.
Such disclosure will help to improve returns of PBSA pension funds, as well as improve the overall level of accountability and transparency among Canadian pension funds. I trust you will advance pension reform in Canada by incorporating these important measures.
Donna Mitchell, CFP, CIM, CSA
Certified Financial Planner, Canadian Investment Manager
Certified Senior Advisor CLEAR Financial Communications