While global pension plan sponsors’ assets grew by 10 per cent to reach US$63.1 trillion in 2023, this value is still five per cent lower than in 2021, according to a new report by the Organisation for Economic Co-operation and Development. It found this growth was largely attributed to gains in equity markets last year […]
The Canada Pension Plan Investment Board is investing $1 billion in Korea-based data centres through its joint venture with the Pacific Asset Management Co. “The demand for data centres in [the Asia-Pacific region] has been on the rise, driven by the continued need for cloud computing and the increasing global adoption of artificial intelligence,” said […]
Workplace pension income will add $24.5 billion to federal coffers and $16.8 billion to the provinces in 2025, according to a new report by the Canadian Centre for Policy Alternatives. It found pension income for seniors across Canada is adding $16.9 billion in additional income tax revenue and $2.3 billion in commodity tax revenue, while […]
The average funded position of defined benefit pension plans in Ontario was 121 per cent in the third quarter of 2024, down just two per cent from the previous quarter, according to a new report by the Financial Services Regulatory Authority of Ontario. It attributed this decrease to a drop in discount rates from the previous […]
An amendment to the federal Pension Benefit Standards Regulations that would establish solvency reserve accounts for federally regulated defined benefit pension plans requires additional clarity and flexibility for plan sponsors, said the Association of Canadian Pension Management. In an open letter to the Department of Finance, the organization said that the establishment of a solvency […]
The British Columbia Financial Services Authority is appointing Tolga Yalkin as chief executive officer and chief statutory officer, effective Jan. 13, 2025. Yalkin succeeds Blair Morrison and will join the BCFSA from his current role leading the regulatory agenda at the Office of the Superintendent of Financial Institutions. Read more People Watch news. “We are thrilled to welcome Tolga […]
An article on how a national drug pooling program would impact employer-sponsored benefits plans was the most-read story on BenefitsCanada.com this past week. Here are the top five human resources, benefits, pension and investment stories of the last week: 1. How would a national drug pooling program impact employer-sponsored benefits plans? 2. Leadership changes at the AIMCo […]
Increased deal-making in the Canadian annuities market is adding pressure to defined benefit plan sponsors seeking to de-risk their plans, says Jason Vary, president of Actuarial Solutions Inc. “[The market is] getting worse,” he says. “This year, I’ve had some experiences where we’re placing some small annuities, under $5 million, and we really struggled to […]
For the fourth year in a row, five Canadian pension funds are among the most transparent in the world, according to the global pension transparency benchmark, a collaboration between Top1000funds.com and CEM Benchmarking Inc. The benchmark, launched in 2021, measures the transparency of disclosures of 15 pension systems across measurements such as cost, governance, performance […]
British Treasury chief Rachel Reeves said Thursday the government planned to merge dozens of pension funds with the aim of unlocking tens of billions of pounds for investment and boosting the U.K.’s subpar economic growth. Reeves said in her speech to finance leaders in central London that the creation of so-called “megafunds” will represent the […]