The world is entering an unpredictable period defined by increasing fiscal policy use, decreasing global trade and higher inflation and interest rates, according to a new research paper by the Investment Management Corp. of Ontario. “At IMCO, we believe that these global trends are leading us towards a new era of investing, one where it […]
Nearly two-thirds (62 per cent) of U.S. women say they expect to retire later than originally planned or not at all due to rising inflation, a significant increase from 25 per cent in 2021, according to a new survey by Edelman Data and Intelligence on behalf of Nationwide Mutual Insurance Co. The survey, which polled […]
The average Canadian defined benefit pension plan lost ground on a solvency and accountancy basis in December, according to LifeWorks Inc.’s latest monthly report. At the end of 2022, the solvency index reached 103.8 per cent, down 3.1 per cent from the end of November. The balance sheet index also fell 2.4 per cent — […]
The uncertainty about the direction interest rates will move in 2023 means defined benefit pension plan sponsors should be reconsidering their asset allocation strategies, says Ben Ukonga, principal at Mercer. “I don’t think anybody knows when, or if, interest rates will come down. If [inflation] comes down, the Bank of Canada’s likely to stop increasing […]
Similar to 2022, the coming year will present both challenges and opportunities for defined benefit pension plan sponsors, with the rewards going to plan sponsors that are resilient, embrace change and are willing and able to act when opportunities arise. Several trends that will be top of mind in the year ahead are: Inflation The […]
Meridian Credit Union Ltd. is supporting local communities through its employee giving program. The organization’s year-end giving campaign, which launched Nov. 29 to coincide with GivingTuesday, generated $312,000 in employee donations and employer matches. Senior leaders also made a surprise donation of $67,000, which will be shared between three charities. In November and December, all Meridian branches across Ontario collected […]
U.S. defined contribution pension plan sponsors are increasingly offering custom target-date funds, according to a new report by the Defined Contribution Institutional Investment Association. The report, which analyzed 100 DC plans in both the public and private sectors, found the plan sponsors used more than 1,000 investment strategies involving custom target-date funds in 2021, up […]
In the Expert Commission on Pensions’ 2008 review of Ontario’s pension system, it recommended an agency or unit of the provincial government serve as a pension champion. According to the commission, the pension champion’s responsibilities would include working closely with stakeholders, promoting and facilitating innovation in the pension system and leading policy development efforts in […]
If there was one message for defined benefit pension plan sponsor delegates at the 2022 Defined Benefit Investment Forum, it was that the fate of global markets in 2023 is on a knife’s edge. In the keynote address, Douglas Porter, chief economist and managing director at BMO Financial Group, said he expects the Canadian economy […]
BMO Financial Group expects North American economies will go through a shallow recession in 2023, according to Douglas Porter, the bank’s chief economist and managing director, during a session at the Canadian Investment Review‘s 2022 Defined Benefit Investment Forum. “I would give it a 25 per cent chance that central banks can still negotiate this without one. […]