Defined contribution pension coverage for the masses has become a very hot political topic in recent months. It has occupied the minds of federal and provincial finance ministers, pension commentators and life insurers as a front and center issue. The major concern that is emerging surrounds the concept of the Alberta/BC Pension Plan (a.k.a. the […]
The solution to Canada’s workforce conundrum requires some fresh thought and tough choices, according to the C.D. Howe Institute. Some of the suggestions contained in the think tank’s latest report are sure to raise a few eyebrows. Instead of increasing the number of young immigrants to the country to offset the mass exodus of the […]
What seemed a bump in road in 2002 has now become a frighteningly deep hole for plan sponsors. At the same time, it is shedding a light on just how few people have pension coverage in Canada. As GM’s pension deficit hovered in the news, two provincial finance ministers took the floor at the 8th […]
Other Brieflies this week:| MON | TUE | WED | THU | FRI | The Caisse de dèpôt et placement du Quèbec announced a 25% decrease in returns for 2008. The net investment results were down $39.8 billion, 56% of which is unrealized decreases in value. These losses have cancelled out a large portion of […]
Other Brieflies this week:| MON | TUE | WED | THU | FRI | The Office of the Superintendent of Financial Institutions (OSFI) has reduced the number of private pension plans on its watch list. According to its 2007-2008 annual report, there are now 59 plans on that list, down from 63 at the start […]
Access to retirement saving room in Canada’s pension system is inequitably distributed between public and private sector workers, and reform is required to provide all Canadians the same opportunity for retirement, according to a C.D. Howe Institute report. In A Pension in Every Pot: Better Pensions for More Canadians, author James Pierlot says Canada’s retirement […]
Ontario will soon have a new pricing scheme that will halve costs for certain generic drugs for plan members. Proponents say similar programs abroad have produced enormous savings and have resulted in better access to drugs. Observers overwhelmingly agree that the scheme is a great deal—for the Government of Ontario. Ontario’s Competitive Agreements for generic […]
The Government of Canada should create a new debt security that will provide stable long-term cash flows for pension fund managers, according to a report by the C.D. Howe Institute. Traditionally, a large part of a pension plan’s portfolio has been in fixed-income assets. Pension funds usually have 25% to 30% of their net assets […]
The global credit crisis was spawned not by irresponsible lending, but by clashing models of debt funding and their associated risk management systems, according to a report released by the C.D. Howe Institute. “This is not a liquidity problem, it’s a solvency problem,” says Frank Milne, an economist, special advisor to the Bank of Canada, […]
Other Brieflies this week:| MON | TUE | WED | THU | FRI | Although the financial health of Canadian pension plans increased slightly in the second quarter, it was still lower than at the start of the year, according to the Mercer Pension Health Index. The index recovered to 79% at the end of […]