pension risk – Benefits Canada.com

Ford Canada transferring $923 million in pension liabilities via group annuity buyout

lbailey — Thu, 22 Feb 2024 14:00:04 +0000

Ford of Canada is is transferring the longevity risk for $923 million in pension plan liabilities through a group annuity buyout. RBC Insurance, Sun Life Assurance Co. of Canada and Desjardins Group will assume responsibility for making pension payments to 2,700 of the plan’s members, who retired on or prior to June 1, 2021. Read: GM Canada […]

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Competitive pension risk transfer costs declined from 101.8% to 100.5% in December: report

bmcgovern — Thu, 15 Feb 2024 14:00:06 +0000

The estimated cost to transfer retiree pension risk to an insurer in a competitive bidding process decreased from 101.8 per cent of a plan’s accounting liabilities in November to 100.5 per cent of those liabilities in December, according to Milliman Inc.’s latest pension buyout index. The index uses the FTSE above median AA curve and […]

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2023 Defined Benefit Investment Forum: How policy-makers, plan sponsors can manage, mitigate cybersecurity risks

bmcgovern — Wed, 24 Jan 2024 12:54:05 +0000

Pension plan sponsors must effectively employ care, diligence and skill when facing cybersecurity threats, said Sandeep Kakan, board trustee and secretary at the Canada-Wide Industrial Pension Plan, during a session at the Canadian Investment Review’s 2023 Defined Benefit Investment Forum in December. Cybersecurity concerns are rising in the aftermath of the MOVEit hack, which compromised […]

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Top 5 HR, benefits, pension and investment stories of the week

lbailey — Fri, 19 Jan 2024 14:00:22 +0000

An article on how the federal government should ensure its new Canadian Dental Care Plan doesn’t displace existing employer-sponsored dental coverage was the most-read story on BenefitsCanada.com. Here are the top five human resources, benefits, pension and investment stories of the past week: 1. Tax credit could ensure national dental-care plan doesn’t displace employer-sponsored coverage: expert […]

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Would Brazil’s new bond work in Canada?

Sadie Janes — Fri, 15 Dec 2023 13:55:21 +0000

RendA+, an innovative bond instrument in Brazil, is serving as a relatively safe asset for defined contribution pension plans and lowering retirement risk, especially for those without a workplace pension plan. At a 2019 retirement security conference held in Brazil, Arun Muralidhar, chairman and chief investment officer at AlphaEngine Global Investment Solutions, proposed the introduction […]

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Competitive pension risk transfer costs increase from 101.1% to 101.9% in October: report

Sadie Janes — Wed, 22 Nov 2023 20:00:25 +0000

The estimated cost to transfer retiree pension risk to an insurer in a competitive bidding process increased from 101.1 per cent of a plan’s accounting liabilities in September to 101.9 per cent of those liabilities in October, according to Milliman Inc.’s latest pension buyout index. The index uses the FTSE above median AA curve and annuity […]

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OSFI’s draft pension cybersecurity standard may lead to duplication, increased risk: ACPM

lbailey — Thu, 09 Nov 2023 14:00:59 +0000

The Office of the Superintendent of Financial Institutions’ proposed cybersecurity incident reporting standard could unintentionally lead to duplication and increased risk if it doesn’t reflect differences in technology and risks faced by federally regulated financial institutions and federally regulated pension plans, according to the Association of Canadian Pension Management. While financial institutions’ systems are critical to the functioning of […]

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Updates to FSRA pension administration guidance will strengthen language around legal risks: expert

bwolfe — Tue, 22 Aug 2023 13:00:36 +0000

The Financial Services Regulatory Authority of Ontario is seeking feedback on proposed updates to its guidance on pension plan administrator roles and responsibilities. The updates include new sections on managing and retaining records, responding to complaints and inquiries and communicating information to plan members in an accurate and timely manner. Jordan Fremont, a partner at […]

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Is the single-employer DB pension plan dead or merely modernizing for the future?

Jennifer Paterson — Thu, 13 Jul 2023 13:00:01 +0000

Predictions of the demise of defined benefit pension plans are premature. The reality is DB is still alive and well in the public sector, with a growing number of multi-employer plans making the promise of financial certainty in retirement provided by DB pensions available to private sector employers of all sizes. What’s under threat is […]

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