The Pension Investment Association of Canada is urging the Office of the Superintendent of Financial Institutions to ensure its guidance on pension investment risk management is flexible enough to be appropriate for plans of all sizes. In an open letter, PIAC chair Sean Hewitt addressed 15 points posed by the OSFI to the pension investment sector related […]
The Defined Contribution Institutional Investment Association is calling on the U.S. government to develop flexible emergency savings solutions for employees. The Washington, D.C.-based organization is among 38 signatories calling for the creation of a national financial inclusion strategy. The strategy should reflect several key principles, including automatic enrolment in workplace emergency savings plans that are […]
The Financial Services Regulatory Authority of Ontario is introducing a whistleblower program to more effectively identify misconduct in the pensions and non-securities financial services sectors. The program will apply to any individual or entity who comes forward in good faith with valuable, timely and non-public/insider information related to an alleged or intended contravention in any […]
While Quebec’s Auditor General Guylaine LeClerc says the Caisse de Dépôt et Placement du Québec’s exposure to international and private markets is increasing fraud and corruption risks, the institutional investor is describing its strategy as “essential.” “Diversification, both in terms of geography and asset classes, is essential to meet the return needs of our depositors over […]
The viability of a public defined benefit pension plan is best judged by its fiscal sustainability rather than its overall liabilities, according to a new report by the National Conference on Public Employee Retirement Systems. The report, written by Michael Kahn, director of research at the NCPERS (pictured right), found fiscally sustainable pension plans have […]
New Brunswick’s new unclaimed property regime, which came into force on Jan. 1, 2022 and is the fourth such provincial regime in Canada, will finally allow defined benefit pension plan sponsors with unlocatable or missing members to fully windup their plans. The governing legislation, the Unclaimed Property Act, received Royal Assent in March 2021, but […]
The OPSEU Pension Trust is shifting toward responsible investing as environmental, social and governance factors become increasingly more material to returns for institutional investors. “We’re seeing a lot of shifting sands around consumer preferences and expectations,” said Alison Loat, managing director of sustainable investing and innovation at OPTrust, during a session at the Canadian Investment Review‘s […]
Years before his late-career rebirth as nemesis to former U.S. President Donald Trump, Robert Muller coined a phrase that went down in history among cybersecurity experts. “I am convinced that there are only two types of companies: those that have been hacked and those that will be,” said the then Federal Bureau of Investigation director […]
Countries with strong social and governance traditions are seeing fewer deaths and more economic stability during the coronavirus pandemic, according to a new report by FTSE Russell. “The analysis shows that investing in [environmental, social and governance] themes has overarching benefits, both for economies and investors,” wrote the report’s researchers. “While it results in more […]
The Alberta Management Investment Co. is focusing on all three legs of the environmental, social and governance stool this year and beyond. The government-owned pension investment manager is addressing a range of ESG issues, from integrating climate risk to building a more diverse workforce to advancing its risk governance in 2021, according to its 11th […]