Following an unprecedented 2020, Canada’s plan sponsors and pension plans are incorporating the lessons of the last year as they prepare for a new decade, according to a recent webinar hosted by Mercer Canada. The coming years will be marked by developments including increased geopolitical tensions and the lingering economic effects of the coronavirus pandemic, […]
Mercer Canada is appointing Geoffrey Melbourne as partner and wealth Canada growth leader and Neil Lloyd as Western Canada wealth leader. Melbourne (pictured left) has over 25 years of experience as a seasoned actuary, retirement consultant and client relationship manager. He joins Mercer after nearly 15 years in retirement consulting at a leading global advisory, […]
Canada’s defined benefit pension plans posted a median return of five per cent during the fourth quarter of 2020 and closed a volatile year with a 10 per cent gain, according to Northern Trust Canada’s pension universe. Despite uncertainty from factors including the U.S. presidential election and Brexit negotiations, the last quarter saw global equity […]
The union representing General Motors of Canada Co. employees in Ontario has ratified a new agreement for workers at a plant in Ingersoll that removes changes to a legacy defined benefit plan as part of ongoing pension discussions. The deal, based on the recent three-year agreement with GM for workers in Oshawa, St. Catharines and Woodstock, […]
Saskatchewan’s Public Employees Benefits Agency is finalizing the modernization of its pension administration system. Earlier this month, the province’s Public Employees Pension Plan converted to the PEBA’s new platform which includes the new PLANet system, an online self-serve portal for employees and members of both the PEPP and the Municipal Employees Pension Plan. The MEPP […]
The Pension Investment Association of Canada is calling on the federal government to reform pension solvency rules while supporting legislation to introduce solvency reserve accounts and variable-payment life annuities. In response to a federal consultation paper, the PIAC said while it supports temporary relief measures amid the current economic climate, it cautioned against an approval […]
Alberta’s public sector pension plans are reassuring members their pensions are safe, following a recent ministerial order enacted by the provincial government. The order was enacted in late December by Alberta Finance Minister Travis Toews after 2020 deadlines for investment management agreements between the pensions and the Alberta Investment Management Corp. passed with no result. […]
The Alberta Investment Management Corp. is now managing investments for several pensions in the province, a move facing at least one legal challenge. This change is part of a ministerial order that Alberta Finance Minister Travis Toews enacted upon several Alberta-based pensions in late December, after 2020 deadlines for investment management agreements between the pensions […]
With private-sector defined benefit pension coverage declining over the past two decades, the federal government should take more steps to prioritize coverage and benefit adequacy, according to a new consultation paper from the Association of Canadian Pension Management. The paper said solvency funding relief should be a key priority, with options based on factors including […]
The Office of the Superintendent of Financial Institutions is launching a three-month consultation on risks arising from climate change that can affect the safety and soundness of federally-regulated pension plans and financial institutions. Along with a discussion paper, the consultation’s objective is to understand how plans and institutions identify, measure and build resilience to climate […]