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Copyright_Chalermphon Kumchai _123RF

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 […]

  • By: Staff
  • February 22, 2024 February 21, 2024
  • 09:00
Copyright_taaee_123RF

Stelco Inc. is de-risking one of its defined benefit pension plans with a $1.3 billion annuity buy-in. The deal, which covers more than 7,000 United Steelworkers members and beneficiaries employed at the company’s Hamilton, Ont.-based plant, was completed in May with Brookfield Annuity Co. and Sun Life Financial Inc. Read: Stelco workers, retirees learn fate […]

  • By: Staff
  • June 20, 2022 June 23, 2022
  • 09:00