Employees of Candu Energy Inc., Canadian Nuclear Laboratories and Global First Power are joining the Colleges of Applied Arts and Technology’s DBplus pension plan. Unionized members of Candu and CNL were previously in a defined contribution pension plan, while employees of Global First Power were enrolled in a group registered retirement savings plan, according to […]
Ford of Canada’s recent transfer of $923 million in pension liabilities to Desjardins Group, RBC Insurance and Sun Life Assurance Co. of Canada augurs well for what has been a rapidly expanding group annuity buyout and buy-in market. “As of 2013, the group annuity market amounted to about $1 billion annually,” says Charbel Assal, senior […]
The Financial Services Regulatory Authority of Ontario is appointing Andrew Fung as executive vice-president of pensions, effective March 11, 2024. Fung first joined the Financial Services Commission of Ontario (the FSRA’s predecessor) in 2018 as chief actuary. In 2019, he was appointed the FSRA’s head of relationship management and prudential supervision (pensions), later becoming acting […]
An article on how a shorter workweek can support higher levels of employee health and happiness was the most-read story on BenefitsCanada.com. Here are the top five human resources, benefits, pension and investment stories of the past week: 1. Four-day workweek improves employee well-being, retention: expert 2. Report finds women taking 69% of all mental-health leaves of […]
Global pension assets increased by 11 per cent to reach US$55.7 trillion in 2023, up from $50.2 trillion at the end of 2022, according to a new report by WTW’s Thinking Ahead Institute. This growth was attributed to stronger capital market performance following a much more negative impact from markets in the correction of 2022, […]
An article on Eastman Kodak Co.’s plans to outsource management of its pension assets was the most-read story on BenefitsCanada.com. Here are the top five human resources, benefits, pension and investment stories of the week: 1. Kodak outsourcing US$1.6TN of pension assets to maximize overfunded status 2. OMERS returns 4.6% for 2023, driven by equities, fixed income […]