Nine in 10 (89 per cent) U.S. defined benefit pension plan sponsors say they’re expecting to completely divest their plan liabilities in roughly four years, according to a new survey by MetLife Inc. The survey, which polled 250 DB plan sponsors, found nearly all (94 per cent) said the financial impacts of volatility and related risks […]
The British Columbia Investment Management Corp. is part of an investing group backing a new financial operator from Centerbridge Partners and Wells Fargo & Co. The new entity, Overland Advisors, will oversee the creation of senior secured loans for middle-market companies. The BCI is part of a $2 billion initial equity commitment. “Direct lending provides […]
The median solvency ratio of defined benefit pension plans in Canada increased during the third quarter of 2023, according to separate reports from Mercer and Aon. Mercer’s report showed median solvency ratio rose from 119 per cent at June 30 to 125 per cent at Sept. 30, according to Mercer’s latest pension health pulse. The report, […]
An article on the new agreement between Ford of Canada and Unifor was the most-read story on BenefitsCanada.com over the last week. Here are the five most popular news stories of the week: 1. Ford, Unifor agreement includes significant DC pension improvements, transition to DB plan 2. Alberta deserves more than half CPP assets if it exits program: report […]
The estimated cost to transfer retiree pension risk to an insurer in a competitive bidding process increased from 100.2 per cent of a plan’s accounting liabilities to 100.5 per cent of those liabilities in August, according to Milliman Inc.’s latest pension buyout index. The index uses the FTSE above median AA curve and annuity purchase composite […]
More than 5,600 Ford of Canada workers have voted in favour of ratifying a three-year collective agreement that includes improvements to the defined contribution and defined benefit pension plans. The agreement “fundamentally transforms pension plans,” said Lana Payne, Unifor national president, in a press release. Under the agreement, the DB plan’s basic monthly benefit rate […]
An article on the 2023 Benefits Canada Healthcare Survey’s findings on plan members’ appreciation of health benefits was the most-read story on BenefitsCanada.com over the last week. Here are the five most popular news stories of the week: 1. 72% of plan members appreciate health benefits more today than before pandemic: survey 2. 54% of benefits plan members currently live […]
The funded ratio of the U.S.’s 100 largest defined benefit pension plans dropped slightly in August, from 76.8 per cent as of July 31 to 75.3 per cent as of Aug. 31, the result of a $98 billion funded status decline, according to Milliman Inc.’s latest public pension funding index. The result was driven by […]
The Nova Scotia Labour Board has ordered St. Mary’s University to resume making pension contributions for employees on long-term disability leave, reasoning that the pension committee had no authority to make changes to contribution levels mandated by the plan. “The board found that amendments to the pension plan proposed by the pension committee — the […]