A federal public sector union representing more than 27,000 members is asking the Public Sector Pension Investment Board to divest any holdings in Tesla Inc. from its $264.9 billion portfolio. In a public statement, the Canadian Association of Professional Employees is calling on PSP Investments and “all pension funds in Canada” to ditch the electric […]
The office of the New York City comptroller, which oversees five public pension systems, is recommending the New York City Law Department seeks securities litigation against electric car maker Tesla Inc. over “enormous losses” to shareholders. In a statement on the office’s website, Brad Lander, the New York City comptroller, said Tesla made material misstatements […]
Donald Trump is poised to be the “most transformational” U.S. president due to his corporate tax rate approach and a unique deregulation plan across financial and energy sectors, according to Charles Myers, chairman at Signum Global Advisors, speaking during the keynote session at Benefits Canada’s 2025 Defined Contribution Plan Summit on Feb. 27. In addition […]
While good governance practices must be at the core of any pension plan, intricate frameworks are designed to be proportional to the size of the sponsoring organization, according to Leah Fichter, vice-chair at the Canadian Association of Pension Supervisory Authorities and deputy superintendent of pensions and executive director of the pensions division at the Financial […]
With no federal requirement for U.S. employers to offer retirement savings options, individual states are stepping up and delivering meaningful programs. Speaking at Benefits Canada’s 2025 Defined Contribution Plan Summit, Michael Frerichs, state treasurer at the Illinois Treasurer’s Office, said the U.S. is facing a retirement crisis and he hopes these government tools can be […]
Amid all of the Canadian industries impacted by tariffs imposed by U.S. President Donald Trump, targeting the production of aluminum shows a misunderstanding of the industry, said Douglas Porter, chief economist and managing director at BMO Financial Group, during a session at Benefits Canada’s 2025 Defined Contribution Plan Summit on Feb. 28. “Frankly, not to […]
In the early days of Bell Canada’s defined contribution plan, there was a lot of emphasis on information and big campaigns, but at that time, employers were reluctant to get too involved, according to Robert Marchessault, the telecommunications company’s director of pension and benefits, noting it was soon clear its members needed more guidance. Speaking […]
The evolution of pension plans from retirement tools to encompassing flexible savings models that prioritize financial wellness is a defining change over the past 25 years in the defined contribution pension industry, said Wendy Mizuno, senior vice-president of total rewards at Loblaw Companies Ltd, during a panel session at Benefits Canada’s 2025 DC Plan Summit […]
Increased investment volatility could trigger additional questions on the decisions of Canadian pension funds as governance reviews come into focus, says Level Chan, a partner in the pensions practice at Stewart McKelvey. “Where there’s greater volatility, we could expect that triggering more questions about how pension plans are weathering the storm.” When responding to additional […]
Toronto-based strategic consulting firm Grantbook Inc. is transitioning to an employee ownership trust, inviting its employees to help define their retirement savings model. “It was kind of like a jagged, ragged journey, crunching through the problems for which the answer was an EOT and then finally stumbled on it at the last minute at the […]