The Canadian Institute of Actuaries is urging the federal government to reconsider its cessation of real return bond issuances, citing the potential financial impacts to defined benefit pension plans. “We request not only that the decision to cease issuing real return bonds be reconsidered, but also that the annual issuance of real return bonds be […]
Workplace pension plans alone aren’t providing adequate retirement income for U.S. government employees, according to a new report by the National Institute on Retirement Security and Aon. It found U.S. state and local employees in a typical public defined benefit pension plan need to save roughly four to six per cent of their salary on their […]
The OPSEU Pension Trust is supporting employees’ and plan members’ financial literacy with its defined benefit pension education program and extensive member communications. “We run a program called People for Pensions, an education program focused on articulating the value of defined benefit pensions and not just the benefit they provide to people who have them, […]
The Canadian Institute of Actuaries is supporting several of the Alberta government’s proposed legislative and policy updates for private sector pension laws, including the move towards a going-concern plus regime for defined benefit plans and the introduction of automatic features in defined contribution plans. In its response to the consultation draft, the CIA cited the benefits […]
An article on Telus Communications Inc.’s win in Benefits Canada‘s 2022 Workplace Benefits Awards was the most-read story on BenefitsCanada.com over the last week. Here are the five most popular news stories of the week: 1. Telus wins award for supporting employees’ holistic well-being 2. Survey finds nearly all young employees globally experiencing burnout 3. Half of employees say employer hasn’t communicated […]
Defined benefit pension plan sponsors in the U.S. are facing increasing costs when de-risking through annuity buyouts, according to a new report by consulting firm Milliman Inc. It found the estimated cost to transfer risk to an insurer increased in September to 100.1 per cent of a plan’s total liabilities, up from 96.9 per cent […]
The Saskatchewan College of Pharmacy Professionals is joining the Colleges of Applied Arts and Technology pension plan’s DBplus arrangement. “I did a lot of research with respect to plan options for our staff and felt that [the] CAAT had the best offering as it was flexible, affordable and offered a great opportunity to support them […]
Institutional investors’ best laid plans sometimes go awry — especially following global pandemics. During a presentation at the Canadian Investment Review‘s 2022 Risk Management Conference, Marc Gauthier, treasurer and chief investment officer at Concordia University, said the dramatic events shaping the world in the past two years have challenged the university’s carefully designed investment model. […]
The market value of assets held by Canadian trusteed pension funds decreased 2.9 per cent to $2.21 trillion in the first quarter of 2022, down from $2.27 trillion in the previous quarter, according to new data from Statistics Canada. Within trusteed plans, public sector assets decreased 1.8 per cent to $1.48 trillion, accounting for 79 […]
The modern economy is highly uncertain, with inflation and rising interest rates cutting into bottom lines everywhere. Employers are nervous as the cost of capital and the cost of their inputs seems to rise every day. But employees are nervous, too. And since no one knows when inflation will end, it’s difficult for anyone to […]