The Canadian Institute of Actuaries has responded to Ontario’s description of its proposed funding rules for defined benefit plans. While the provincial government’s document, published in December 2017, included details on how the provision for adverse deviations would work under proposed new going-concern rules, the Canadian Institute of Actuaries’ submission says more information is required on how these were established. “We encourage the Ministry […]
After a six-year legal battle, it’s finally time for the former employees of the bankrupt technology firm Nortel Networks to learn what to do with their pension payments. In May 2015, when a court decided the fate of the remaining Nortel assets, it also signalled a light at the end of the tunnel for Canadian pensioners who have seen their […]
What’s the best way to transfer DB risk? Here are three strategies.
Recent mortality research in Canada has considerably extended the time at which virtually all closed-to-new- entrants DB pension plans are projected to end up with their “last man standing.” That has given a sudden boost to pension liabilities and normal costs, depending on which of several mortality tables is chosen (most notably, tables that differentiate between private and public sector workforces). It is readily apparent that more judgment is required in that choice than under the previous commonly used table. Never before have Canadian DB plan sponsors given so much attention to the life expectancy of their plan members.
We live in a digital age where we are bombarded by information at lightning speed. For many of us, it’s a struggle just to get through all of our email each day. But technological advancement also means better access to data, automation of laborious manual processes and outsourcing of HR functions so that companies can focus on their core business.
They're less expensive here than anywhere else: Mercer.
Canada is the cheapest location to insure retiree DB pension obligations and the United Kingdom is the most expensive location, according to data produced by Mercer.
Coverage of the 2013 Risk Management Conference.
Despite tastes for beaver tails and poutine, Canadians are living longer than ever before. And if you’re an employer with a DB pension plan, it probably means that you’ll be paying pensions to your retirees for longer than you expect.
The ancient Romans are widely considered to have been master engineers and builders. One of their many innovations was the design and construction of a massive network of roads spanning across what would encompass much of continental Europe. Since Rome was the centre of the Roman Empire, the system of roads was created to facilitate the flow of people, goods and weaponry to and from the Roman capital—hence the idiom “all roads lead to Rome.”