Two shared-risk pension plans for former employees of New Brunswick-based Fraser Papers Inc. are de-risking via annuity buy-in transactions totalling $114 million. A board of trustees overseeing the plans completed the pension risk transfer service transaction with Sun Life Financial Inc. Read: Pension risk transfer market reaching $1.4 billion in first half of 2025: report […]
The Ontario Pension Board is appointing Joanna Carson as chief financial officer, effective Nov. 10. In the role, she’ll oversee the OPB’s corporate finance, procurement, enterprise risk management and pension payroll functions. Carson will take over the role from Armand de Kemp, who’s retiring this year. Read: OPB appointing Andrew Tambone as CIO She previously […]
Roughly six in 10 (60 per cent) U.S.-based defined contribution pension plan sponsors say they want to retain assets in the plan, often by limiting rollover solicitations from record keepers and offering targeted education to members, according to a new survey by the Defined Contribution Institutional Investment Association. The survey, which polled more than 150 […]
Some former Hudson’s Bay Co. employees have filed a class-action lawsuit seeking a share of the defunct retailer’s pension surplus. The court filing was made on behalf of workers who were enrolled in a pension plan offered by Simpsons, a rival department store HBC bought in the 1970s. The takeover made HBC the administrator of […]
The infrastructure arm of the Ontario Municipal Employees’ Retirement System has confirmed the completed inaugural senior unsecured bond issuance for the BPC Generation Infrastructure Trust totalling $1.5 billion across five-, seven-, and 10-year tranches of notes. The transaction involving the trust, which is a holding company for the OMERS investment in Bruce Power, is one […]
Dutch authorities are summoning the Healthcare of Ontario Pension Plan on alleged evasion of dividend withholding tax worth more than €200 million. Last week, the Netherlands Public Prosecution Service confirmed it was calling on a foreign pension fund based on the suspicion of evasion of dividend withholding tax. The agency didn’t name the Ontario pension […]
The Ontario Teachers’ Pension Plan is appointing Christopher Metrakos as executive managing director of infrastructure and natural resources, effective immediately. In this role, he’ll be responsible for guiding strategy, portfolio and asset management activities globally. Metrakos joined the Ontario Teachers’ in 2014 and was most recently its senior managing director of natural resources. Read more People […]
A desire to diversify a heavy public equities portfolio led Montreal’s municipal pension plan sponsor to look more closely at alternative assets. Before the global financial crisis, more than 60 per cent of the City of Montreal’s portfolio was in public equities, said Errico Cocchi, its head of pension investments, during a session at the […]
The Ontario Teachers’ Pension Plan is appointing Dale Burgess executive managing director of equities, effective immediately. Burgess has been at the investment organization since 1996 and has already been in this role on an interim basis since February, overseeing the equities investment department globally. Read: Ontario Teachers’ names Kevin Kerr as executive managing director, portfolio […]
The New Brunswick Public Service Pension Plan is reporting a funded status of 136.5 per cent as at Dec. 31, 2024, and will provide a full cost-of-living adjustment of 2.01 per cent to all members. Last year, the plan returned 12.65 per cent and its long-term rate of return increased to 7.14 per cent, surpassing […]