Sears Canada Inc.’s pensioners reached a settlement last week after they were denied priority over the company’s other creditors. The settlement is subject to certain conditions before it becomes binding, according to a news release from Koskie Minsky LLP, the firm representing Sears’ retirees in the proceedings. The firm is dropping the deemed trust option it was […]
The federal government is asking Canadians to weigh in on a consultation paper that tackles issues related to pension underfunding and bankruptcy and insolvency laws. The topics open for comment include that dividend payments, share redemptions and executive compensation packages could be restricted under the Canada Business Corporations Act if a company has a large […]
The federal government is asking Canadians to weigh in on a consultation paper that tackles issues related to underfunding, insolvency and pension plans. The topics open for comment include that dividend payments, share redemptions and executive compensation packages could be restricted under the Canada Business Corporations Act if a company has a large pension deficit. […]
The federal government is launching national consultations on enhancing the retirement security of Canadians, including potential actions on pension regulations and bankruptcy and insolvency laws. Previously announced in the 2018 budget and reiterated on Wednesday in the fall economic statement, the consultation includes measures to help ensure employers maintain well-funded pension plans, better aligning corporate decision-making with […]
Increasing exposure to less liquid, alternative assets like infrastructure, real estate and private equity hasn’t created difficulty for Canadian pensions in repaying creditors, according to a report by Moody’s Corp. As pension portfolios have increased their allocations to alternatives, with these assets now making up close to 40 per cent of Canadian plan’s investments, concerns around liquidity […]
The Canada Pension Plan Investment Board saw a net return of 0.6 per cent for the second fiscal quarter of 2019. With a total net assets of $368.3 billion as of Sept. 30, 2018, the fund added $1.7 billion during the quarter. “While returns were relatively flat in the second quarter, our teams performed well against our […]
A contentious election in Brazil that’s held the attention of the global investing community came to a conclusion on Oct. 28, 2018, with far-right congressman Jair Bolsonaro becoming the country’s president-elect. Canadian pensions have made some hefty allocations to the region of late. In the second half of 2018, the Canada Pension Plan Investment Board acquired […]
Ontario’s Premier Doug Ford is pledging his support for Ontario steelworkers and their pensions in the wake of the United States’ government’s 25 per cent tariff on Canadian steel. In an announcement last week to Algoma Steel Inc. employees in Sault Ste. Marie, Ont., Ford said the provincial government would be helping in the form of regulatory relief from […]
The Colleges of Applied Arts and Technology pension plan’s plan to share its expertise with as many Canadian workers as possible nabbed it the award for pension performance at Benefits Canada’s 2018 Workplace Benefits Awards in Toronto on Oct. 11. With a backdrop of strong fund performance in its main plan, as evidenced by its 118 per […]
The Canadian Association of Retired Persons is calling out the federal government, saying it’s unfair the pensions of Sears Holding Corp.’s American employees will be protected by the U.S.’s Pension Benefit Guaranty Corp. while Canadian employees will see benefits cuts. The Canadian operation has been under court-ordered liquidation since June 2017, and Ontario’s superintendent of financial services ordered […]