An article on British Columbia’s paramedics and their need for enhanced mental-health benefits was the most read story over the past week on BenefitsCanada.com. Here are the five most popular news stories of the week: 1. B.C. paramedics seeking enhanced mental-health benefits 2. Canadian pension plans overcoming legislation, governance challenges: webinar 3. Ontario’s DB pension plans should take steps […]
Representatives from a few of Canada’s most progressive pension plans weighed in on topics ranging from plan design to the various challenges posed by legislation and governance during a webinar hosted by the Association of Canadian Pension Management last week. Orla Cousineau, executive director of pensions at the University of British Columbia, said the province’s […]
Nearly two years after the declaration of the global coronavirus pandemic and its subsequent impact on the worldwide economy, institutional investors are looking to the future with cautious optimism. Amid a recovering economy and rising inflation, pension plan sponsors are taking a long-term investment view and staying the course in the year ahead, while incorporating […]
Defined benefit pension plans offer substantial cost advantages over 401(k)-style defined contribution plans, according to a new report by the National Institute on Retirement Security. The U.S. report found a typical DB pension — with advantages based on longevity risk pooling, asset allocation, low fees and professional management — has a 49 per cent cost advantage […]
With 10 million Canadian baby boomers entering retirement, dynamic pension pools could help seniors turn their accumulated savings into low-cost lifetime pension income, according to a new report by Ryerson University’s National Institute on Ageing and the Global Risk Institute. According to the report, dynamic pension pools can help Canadians optimize their expected lifetime retirement […]
Purpose Investments Inc. is introducing a new longevity pension fund, which invests 50 per cent in equities and 50 per cent in fixed income. It can be incorporated into a defined contribution plan to provide plan members with an in-plan decumulation option, says Pat Leo, vice-president of retirement solutions at Purpose Investments, noting investors can redeem […]
Two experts weigh in on the merits and drawbacks of taking the traditional annuities route versus opting for the newer do-it-yourself option. Marco Dickner, retirement risk management leader for Willis Towers Watson in Canada Although annuity purchases have become an important pension risk management option over the last decade, a countertrend is emerging for plan […]
The recent announcement that General Motors of Canada Co. purchased $1.8 billion of annuities for its salaried pension plan is creating a lot of excitement. GM Canada joins a growing list of plan sponsors who’ve purchased sizeable annuities in the last few years: Stelco Inc. ($885 million), Alcoa Corp. ($750 million), Rio Tinto Group ($560 […]
General Motors of Canada Co. is transferring the longevity risk for $1.8 billion in pension plan liabilities through a group annuity buyout. Jennifer Wright, director of communications at GM Canada, said in a statement that the automaker has been taking steps to reduce risk and strengthen its retirement plans with a view to protecting the […]
Corby Spirit and Wine Ltd. and Hiram Walker & Sons Ltd. are de-risking with a $176-million group annuity buy-in amidst volatile markets caused by the coronavirus pandemic. The deal covers 750 retirees and beneficiaries and there will be no change for plan members, who will continue to be paid from the plan as before the […]