Sun Life Assurance Co. – 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 Ford Canada transferring $923 million in pension liabilities via group annuity buyout https://www.benefitscanada.com/pensions/defined-benefit-pensions/ford-canada-transferring-923-million-in-pension-liabilities-via-group-annuity-buyout/ Thu, 22 Feb 2024 14:00:04 +0000 https://www.benefitscanada.com/?p=152217 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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]]> Stelco entering $1.3BN annuity buy-in for DB pension https://www.benefitscanada.com/pensions/defined-benefit-pensions/stelco-entering-1-3bn-annuity-buy-in-for-db-pension/ Mon, 20 Jun 2022 13:00:43 +0000 https://www.benefitscanada.com/?p=123012 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 […]

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