An article on the federal government’s plan to scrap Canada mortgage bonds and the potential impact on pension funds was the most-read story on BenefitsCanada.com over the last week. Here are the five most popular news stories of the week: 1. Feds’ plan to discontinue Canada mortgage bonds may limit pension funds’ abilities to mitigate risk: PIAC […]
Approaches to climate scenario analysis are currently based on “implausible” assumptions that could delay action and create fiduciary duty challenges for investors, according to a new study by the Institute & Faculty of Actuaries. Sandy Trust, head of organizational risk at M&G, a global investment manager headquartered in London, England and one of the authors […]
The office of the chief actuary is seeking an external peer review panel for its next actuarial report on the Canada Pension Plan. The external peer review is intended to ensure the report — to be released in December 2022 — meets high professional standards and is based on reasonable methods and assumptions, according to […]
Changes to the calculation of commuted pension values in Canada are making it more challenging for defined benefit pension plan members to determine an optimal day to quit their job and receive the maximum payout, says one actuary. Peter Gorham, an actuary at JDM Actuarial Expert Services Inc., says while he used to point plan […]
The Financial Services Regulatory Authority of Ontario is clarifying its guidance on the administration of pension benefits upon marriage breakdown. The final guidance, which came into effect on Nov. 9, 2021, clarifies the FSRA’s position on issues relating to valuation, payment and division and survivor benefits. It stated pension assets are to be valued based on […]
The Pension Investment Association of Canada is commenting on a consultation from the Canadian Institute of Actuaries’ actuarial standards board, providing feedback on benefit security, stress testing and windup valuations. In a letter, the PIAC said the meaning and mandated disclosures of benefit security are public policy issues for lawmakers and regulators. “While the views of the [actuarial standards […]
Morneau Shepell Ltd. is appointing Gavin Benjamin as partner in its retirement solutions business. With more than 30 years of experience in the pension industry, he was most recently senior director of retirement and actuary at Willis Towers Watson. As a consulting actuary, he advises plan sponsors on all aspects of pension plan management, including design, […]
Guardian Capital is forming a collaboration with Moshe Milevsky, a professor of finance at York University’s Schulich School of Business, that focuses on retirement finance. As an academic, Milevsky is currently working on research on the intersections of financial engineering, actuarial science, insurance contingent claims and wealth management, according to a press release. “There is an acute need for innovation […]
Morneau Shepell Ltd. is appointing Glen Oikawa as a client relationship partner, retirement solutions partner and Calgary office leader. In the new role, he’ll focus on delivering innovation, thought leadership and dedicated service to several of the organization’s largest plan sponsor clients across Western Canada. With more than 20 years of experience in financial well-being, […]
Financial hardship is hitting employers across Canada and they’re starting to make difficult choices around cost-cutting measures within their businesses. “Some plan sponsors may be considering changes to their plan design to address these cost concerns during these turbulent times,” said Jana Steele, partner and department chair of the pension and benefits team at Osler, Hoskin […]