Reflections on three years of change in the pension and benefits industry—and at Benefits Canada. “Like it or not, we live in interesting times.” These words, spoken by Robert F. Kennedy back in 1966, are certainly true of the pension and benefits industry. Little did I know how true when I took the helm of […]
When it comes to investing pension assets responsibly, knowing the “right thing” to do isn’t easy. Back in 2000, the California State Teachers’ Retirement System (CalSTRS) divested some US$238 million worth of tobacco stocks it held because of the huge litigation risks faced by that industry. Since then, the value of tobacco stocks has climbed […]
The common media criticisms against securities lending are largely unwarranted, according to one industry expert. Speaking at the Securities Lending Summit in Toronto, David Rule, chief executive of the International Securities Lending Association (ISLA), countered some of the traditional criticisms levelled against securities lending strategies undertaken by many institutional investors, including pension plans. One of […]
Canada’s pension funds are riding out the latest “storm” much better than expected. The last time we witnessed an unpleasant mix of volatile markets and falling interest rates, it wasn’t a pretty sight. In 2002, during the height of what became known as the “perfect storm,” Canada’s largest pension funds saw their total assets drop […]
Defined benefit pension plans face a “new dynamic” as the number of active members decreases and the number retirees climbs, according to the head of The Ontario Teachers’ Pension Plan. Speaking at the CPBI Forum 2008 earlier this week, Teachers’ president and chief executive officer Jim Leech cited his own plan as an example of […]
A new report by Britain’s national director of health and work recommends putting the “ability” back in “disability”. “Are you suffocated by work? Do you need a break? Take a breather—you deserve one.” That’s the advice you’ll find at www.bestfakedoctorsnotes.com, where they claim to offer “the Internet’s highest quality, most affordable fake doctors’ notes.” According […]
Benefits Canada recently spoke to the deputy governor of the Bank of Canada, David Longworth, about what’s being done to stabilize tumultuous financial markets and lessons learned from the credit crisis. There’s been a lot of talk about the need for more transparency in financial markets to avoid another credit crunch. Where will this transparency […]
What does the future hold for group retirement and health plans? It all depends which end of the crystal ball you’re looking into. Predicting the future is always a tricky business. Just ask the Yale economist who projected just days before The Crash of 1929 that stocks had reached a “permanently high plateau.” Or the […]
Could a recovery be on the horizon for DB plans? In 1897, after a reporter was sent to investigate rumours that Mark Twain had died, the renowned writer was famously quoted as saying, “The report of my death is an exaggeration.” This quote came to mind recently during a conversation with Normand Gendron, past president […]
As markets continue their turbulent ride, more pension fund investors are turning to 130/30 products and other long-short strategies to help offset the impact.”In volatile markets, most investors are looking for higher levels of alpha. That’s what 130/30’s all about,” said Young Chin, chief investment officer of Pyramis Global Advisors, speaking to Benefits Canada. “We’re […]