Pensions – Benefits Canada.com https://www.benefitscanada.com Canada's most influential pension and benefits publication for decision-makers Mon, 14 Jun 2021 20:51:40 +0000 en-US hourly 1 https://wordpress.org/?v=4.9.8 Decline in bond yields signals market observers to be on ‘inflation watch’: report https://www.benefitscanada.com/news/cir-news-news/decline-in-bond-yields-signals-market-observers-to-be-on-inflation-watch-report/ Thu, 10 Jun 2021 16:30:49 +0000 https://www.benefitscanada.com/?p=101884 The funded position for an average Canadian defined benefit pension plan improved slightly during May, with a solvency of 108.2 per cent, according to a new report by LifeWorks Inc. (formerly Morneau Shepell Ltd.) On an accounting basis, it found expenses for the average pension plan had dropped precipitously since the beginning of 2021, at […]

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Sears Canada retirees’ group says bankruptcy laws unjust for pensioners https://www.benefitscanada.com/pensions/governance-law/sears-canada-retirees-group-says-bankruptcy-laws-unjust-for-pensioners/ Thu, 10 Jun 2021 13:30:26 +0000 https://www.benefitscanada.com/?p=101844 Canada’s bankruptcy laws should be changed to avoid future financial hardship for members of other underfunded pension plans, said a court-appointed representative for Sears Canada retirees. Kenneth Eady, a former Sears Canada management employee who now represents 17,000 other pensioners, told MPs on Tuesday that he doesn’t believe it’s fair that Canada’s two bankruptcy laws give banks more protection […]

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Pandemic impacting employees’ financial well-being, work productivity: survey https://www.benefitscanada.com/news/bencan/pandemic-impacting-employees-financial-well-being-work-productivity-survey/ Wed, 09 Jun 2021 13:00:50 +0000 https://www.benefitscanada.com/?p=101805 The prolonged coronavirus pandemic’s effect on working Canadians’ financial well-being persists, with the stress taking a toll on their savings and their productivity in the workplace, according to a new survey by LifeWorks Inc. Although Canadian workers’ financial well-being score for April is negative 2.2, a slight improvement from February’s negative 2.8, the survey found […]

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British Airways appointing outsourced chief investment officer https://www.benefitscanada.com/canadian-investment-review/strategies/british-airways-appointing-outsourced-chief-investment-officer/ Tue, 08 Jun 2021 16:30:56 +0000 https://www.benefitscanada.com/?p=101768 British Airways is appointing Blackrock Inc. as outsourced chief investment officer for its two defined benefit pension plans. While many U.K.-based pensions have adopted an OCIO model, the agreement is significant due to its scale. The Airways Pension Scheme and New Airways Pension Scheme have combined assets of £21.5 billion ($36.82 billion), making the transfers […]

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Expert panel: Could pandemic-related mortality rates impact DB pension plans? https://www.benefitscanada.com/pensions/defined-benefit-pensions/expert-panel-how-mortality-rates-due-to-pandemic-could-impact-db-pension-plans/ Tue, 08 Jun 2021 13:00:48 +0000 https://www.benefitscanada.com/?p=101543 Over the past several months, much attention has been paid to the coronavirus pandemic’s impact on financial markets and, subsequently, defined benefit pension plans’ financial conditions — but what about the potential financial implications arising from the virus’ effect on mortality rates? The mortality assumption When performing a pension plan’s actuarial valuation, the actuary uses a […]

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Bankruptcy and insolvency bill will negatively affect struggling DB pensions, says ACPM president https://www.benefitscanada.com/pensions/governance-law/bankruptcy-and-insolvency-bill-will-negatively-affect-struggling-db-pensions-says-acpm-president/ Tue, 08 Jun 2021 13:00:01 +0000 https://www.benefitscanada.com/?p=101696 The Association of Canadian Pension Management is urging parliamentarians to vote down the final version of a new bankruptcy and insolvency bill. If passed, Bill C-253, also titled the Bankruptcy and Insolvency Act and the Companies’ Creditors Arrangement Act (pension plans and group insurance plans), would force super priority on Canadian pension plan members in […]

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New longevity pension fund offers decumulation option for plan sponsors https://www.benefitscanada.com/canadian-investment-review/dc-investments/new-longevity-pension-fund-offers-decumulation-option-for-plan-sponsors/ Mon, 07 Jun 2021 13:00:28 +0000 https://www.benefitscanada.com/?p=101678 Purpose Investments Inc. is introducing a new longevity pension fund, which invests 50 per cent in equities and 50 per cent in fixed income. It can be incorporated into a defined contribution plan to provide plan members with an in-plan decumulation option, says Pat Leo, vice-president of retirement solutions at Purpose Investments, noting investors can redeem […]

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2021 BPS coverage: How PCL is balancing benefits, pension decisions during coronavirus https://www.benefitscanada.com/news/bencan/2021-bps-coverage-how-pcl-is-balancing-benefits-pension-decisions-during-coronavirus/ Fri, 04 Jun 2021 13:00:44 +0000 https://www.benefitscanada.com/?p=100846 With the majority of PCL Construction Ltd.’s workforce continuing to work at its Canada-wide job sites and offices throughout the coronavirus pandemic, the organization’s decisions around its health benefits and pension plan have been to keep rolling. Speaking during a Q&A session to close out Benefits Canada‘s 2021 Benefits & Pension Summit on May 19, […]

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Workplace Benefits Awards win a big boost for 2020 pension winner https://www.benefitscanada.com/news/bencan/workplace-benefits-awards-win-a-big-boost-for-2020-pension-winner/ Fri, 04 Jun 2021 13:00:34 +0000 https://www.benefitscanada.com/?p=101568 Receiving peer recognition for an innovative communications strategy was among the reasons the Co-operative Superannuation Society pension plan entered Benefits Canada‘s 2020 Workplace Benefits Awards, according to Nicole Quintal, communications manager for the plan. “Quite a few peers in the industry reached out to us after we won the award and it was great to get […]

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Saskatchewan Pension Plan appointing Shannan Corey to top job https://www.benefitscanada.com/pensions/cap/saskatchewan-pension-plan-appointing-shannan-corey-to-top-job/ Thu, 03 Jun 2021 13:30:01 +0000 https://www.benefitscanada.com/?p=101527 Shannan Corey will succeed Katherine Strutt as the executive director of the Saskatchewan Pension Plan. A 30-year veteran of the pension sector, Corey most recently served as the founder and CEO of Corey HR Consulting and as a board director of the Saskatchewan Teachers’ Federation’s pension and benefits board. Previously, she was a board vice-president […]

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