The Saskatchewan Pension Plan is expanding its variable benefit option to all retiring plan members across Canada. The option, which was previously only available to Saskatchewan-based plan members, allows for continued investment choice and income flexibility, according to a press release, which noted members who opt for the variable benefit can consolidate funds by transferring […]
Nearly two-thirds (60 per cent) of global defined contribution pension plan members say they’re thinking differently about retirement amid rising inflation, according to a new survey by MFS Investment Management. The survey, which polled roughly 4,000 global DC plan members, found workers younger than age 45 were more likely to say they’ll need to save more […]
An article on how flexible dress codes can support diversity, equity and inclusion was the most-read story on BenefitsCanada.com over the last week. Here are the five most popular news stories of the week: 1. How flexible dress codes can support DEI amid post-pandemic return to office 2. With Ford, GM employees set to join CAAT’s DBplus pension, what’s […]
Prime Minister Justin Trudeau entered the Alberta pension-exit debate Wednesday, saying the federal government will fight any threat to the stability of the Canada Pension Plan. In an open letter to Alberta Premier Danielle Smith, the prime minister also took her to task for launching the debate in the first place. Smith’s office didn’t immediately […]
Climate and cybersecurity are the leading risk factors concerning Canadian pension plan administrators, according to a pension lawyer. Susan G. Seller, a pension and benefits lawyer at Bennett Jones LLP, adds third-party arrangements and commercial real estate risks round out the most pressing categories for federally regulated pension plans. “We’re living in a time where […]
Defined benefit pension plan sponsors must consider the downsides of using a liability-driven investment strategy, particularly the role of interest rates, said Duncan Burrill, managing director and chief executive officer of the Canadian Broadcasting Corp. Pension Plan, during a session at the Canadian Investment Review’s 2023 Risk Management Conference. However, he also noted the pension fund’s LDI […]
The funded position of a typical Canadian defined benefit pension plan increased on a solvency and an accounting basis as of Sept. 30, according to a new report by Telus Health. The monthly index, which demonstrates changes in asset levels for an average pension plan since the beginning of the year, found the average solvency […]
While U.S. auto workers would like to see their pension plans converted from defined contribution to defined benefit, it may be more challenging than it was for their Canadian colleagues. The recent contract agreements for Unifor members at Ford of Canada and General Motors will see DC plan members move into the Colleges of Applied […]
Finance Minister Nate Horner says if Alberta abandons the Canada Pension Plan to run its own stand-alone fund, it will not adopt Quebec’s model, which mandates optimizing returns while also investing in the province. His comments come three weeks after Premier Danielle Smith said her government wants to hear from Albertans first before they make […]