pension plan members – Benefits Canada.com https://www.benefitscanada.com Canada's most influential pension and benefits publication for decision-makers Fri, 26 Apr 2024 20:02:31 +0000 en-US hourly 1 https://wordpress.org/?v=4.9.8 More than £50 billion in U.K. pension benefits at risk of being lost, misplaced: study https://www.benefitscanada.com/pensions/retirement/more-than-50-billion-in-u-k-pension-benefits-at-risk-of-being-lost-misplaced-study/ Mon, 25 Mar 2024 19:00:11 +0000 https://www.benefitscanada.com/?p=153577 More than £50 billion in U.K. pension benefits were at risk of being misplaced in abandoned accounts or scattered across multiple lost pots in 2023, according to a study by the Centre for Economics and Business Research on behalf of PensionBee Ltd. It noted at least 4.8 million U.K. pension pots were considered lost in 2023, […]

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]]> Kodak outsourcing US$1.6TN of pension assets to maximize overfunded status https://www.benefitscanada.com/pensions/defined-benefit-pensions/kodak-outsourcing-us1-6tn-of-pension-assets-to-maximize-overfunded-status/ Wed, 06 Mar 2024 14:00:46 +0000 https://www.benefitscanada.com/?p=152633 Eastman Kodak Co. is disbanding a team that manages the firm’s US$1.6 trillion of pension investments and moving its management to Boston-based investment consulting firm NEPC. In a statement, the organization said as at Dec. 31, 2022, the fair value of plan assets was approximately $3.7 billion, with the projected benefit obligation of the plan […]

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]]> FSRA’s proposed rule could increase fairness in division of pension benefits during marriage breakdown: expert https://www.benefitscanada.com/pensions/governance-law/fsras-proposed-rule-could-increase-fairness-in-division-of-pension-benefits-during-marriage-breakdown-expert/ Fri, 08 Dec 2023 14:00:55 +0000 https://www.benefitscanada.com/?p=148525 The Financial Services Regulatory Authority of Ontario’s proposed family rule could allow for pension benefits to be divided more fairly in the event of a marriage breakdown, says Louis Duranleau, a senior principal of pensions at Normandin Beaudry. “When there’s an agreement between the spouses to share the retiree’s pension before it’s effectively divided in […]

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]]> Getting to know Shannan Corey and the Saskatchewan Pension Plan https://www.benefitscanada.com/archives_/benefits-canada-archive/getting-to-know-shannan-corey-and-the-saskatchewan-pension-plan/ Fri, 15 Sep 2023 12:56:06 +0000 https://www.benefitscanada.com/?p=143329 Working in the pension industry has always been aligned with Shannan Corey’s personal interests and values. Her father was an actuary so she was exposed to the pension industry from a very young age. After earning her mathematics degree at the University of Saskatchewan, she became an associate actuary, spending a few years in consulting […]

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]]> Increased protection limits for annuities encouraging DB pension plan sponsors to de-risk: expert https://www.benefitscanada.com/pensions/defined-benefit-pensions/increased-protection-limits-for-annuities-encouraging-db-pension-plan-sponsors-to-de-risk-expert/ Thu, 22 Jun 2023 13:00:42 +0000 https://www.benefitscanada.com/?p=140158 An increase in the protection limit for defined benefit pension plan members’ assets invested in annuities is making it easier for plan sponsors to de-risk, says Mary Kate Archibald, a principal at Eckler Ltd. Assuris, the not-for-profit organization that protects a portion of retirement benefits from annuities in the event of an insurer’s insolvency, now covers up to $5,000 […]

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]]> OPTrust improving survivor benefits for plan members’ dependent children https://www.benefitscanada.com/pensions/defined-benefit-pensions/optrust-improving-survivor-benefits-for-plan-members-dependant-children/ Thu, 06 Apr 2023 13:00:08 +0000 https://www.benefitscanada.com/?p=136096 The OPSEU Pension Trust is expanding the definition of an eligible dependent child so disabled dependent children may be entitled to survivor benefits. Previously, a plan member’s children were only eligible for survivor benefits if they were younger than age 18, older than age 18 and attending secondary school full time or attending a post-secondary […]

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]]> How employers can help track down Ontario’s 175,000 missing pension plan members https://www.benefitscanada.com/pensions/pension-communication/how-employers-can-help-track-down-ontarios-175000-missing-pension-plan-members/ Wed, 15 Mar 2023 13:00:54 +0000 https://www.benefitscanada.com/?p=135308 Ontario-based pension plan sponsors can help reduce the number of missing plan members by examining their communications strategies and maintaining best practices in record keeping and data management, says Caroline Blouin, executive vice-president of pensions at the Financial Services Regulatory Authority of Ontario. “As an employer, there is an opportunity to provide some education and […]

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]]> RSA U.K. Pension Trustees entering £6.5BN annuity buy-in https://www.benefitscanada.com/pensions/defined-benefit-pensions/rsa-u-k-pension-trustees-entering-6-5bn-annuity-buy-in/ Wed, 01 Mar 2023 14:00:10 +0000 https://www.benefitscanada.com/?p=134643 RSA U.K. Pension Trustees, a subsidiary of Intact Financial Corp., is de-risking roughly £6.5 billion in U.K. defined benefit pension liabilities with an annuity buy-in. The deal, which will be completed with Pension Insurance Corp., will transfer all remaining economic and demographic risks associated with the Royal Insurance Group Pension Scheme and the Sal Pension Scheme, […]

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]]> Top 10 HR, benefits, pension and investment stories of 2022 https://www.benefitscanada.com/news/bencan/top-10-hr-benefits-pension-and-investment-stories-of-2022/ Fri, 23 Dec 2022 14:00:40 +0000 https://www.benefitscanada.com/?p=131940 Amid the lingering coronavirus pandemic, vaccination policies and paid sick leave were top of mind among Benefits Canada’s readers in 2022. However, stories about new employee benefits and compensation planning, as well as pension and retirement matters, also caught readers’ eyes. Here are Benefits Canada’s 10 most popular stories of the year: 1. Feds consider definition of ‘fully […]

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]]> 2022 CAP Suppliers Report: What’s on CAP sponsors’ wish lists for the coming year? https://www.benefitscanada.com/archives_/benefits-canada-archive/2022-cap-suppliers-report-whats-on-cap-sponsors-wish-lists-for-the-coming-year/ Fri, 16 Dec 2022 13:57:05 +0000 https://www.benefitscanada.com/?p=131173 With the coronavirus pandemic and rising inflation causing economic uncertainty, capital accumulation plan sponsors are looking for new ways to help their members feel secure and get the most out of their savings plans. Benefits Canada asked CAP sponsors and other industry experts what’s on their wish lists to make these plans more effective and engaging […]

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