The Canadian Institute of Actuaries is updating its process for releasing guidance regarding assumptions for hypothetical pension windup and solvency valuations. For quarterly guidance relating to periods from March 31 to Dec. 30, June 30 to Dec. 30 and Sept. 30 to Dec. 30, an explanatory report providing supporting material will be issued after the […]
The Canadian Association of Pension Supervisory Authorities is developing a framework for defined contribution pension plans to offer variable payment life annuities. In developing the framework, the CAPSA said it will address topics such as plan design and conversion options, as well as member disclosure, spousal consent, plan termination, investment rules and regulatory oversight for […]
The Financial Services Regulatory Authority of Ontario is releasing final interpretation guidance to support the role and responsibilities of pension plan administrators. The guidance, an updated and consolidated version of four previous documents, said the administrator’s role includes responsibility for implementing processes to ensure pension plan risks — such as investment, funding, operational and legal — […]
A majority (72 per cent) of plan sponsors believe their retirement savings plan is meeting its goals this year, up from roughly 66 per cent in 2020, according to a new survey by Fidelity Investments Inc. While 68 per cent said their employees are saving enough for retirement — up from 59 per cent in […]
The British Columbia Investment Management Corp. returned 16.5 per cent for its combined pension plan clients and increased its assets under management from $171.3 billion to 199.6 billion in the year ended March 31, 2021. In its annual report, the investment manager said the $28.3 billion increase of assets under management reflected investment gains of […]
Despite market upheaval as a result of the coronavirus pandemic, the Canadian pension risk transfer market had its third-best year for group annuity transactions, according to Eckler Ltd.’s latest report. By the end of 2020, pension risk transfer market transactions totalled $4.45 billion, only slightly behind 2018’s $4.5 billion but below 2019’s $5.2 billion, noted the report. […]
As vaccination efforts continue rolling out across the country, ambiguous return-to-work plans are impacting Canadian workers’ mental health, according to LifeWorks Inc.’s latest mental-health index. While the mental-health score among Canadians for June was negative 10.7, a slight increase from May’s score of negative 11.2, it was the 15th consecutive month where it sat in the […]
Nearly two-thirds (61 per cent) of Canadian employees said they prefer a hybrid or remote working arrangement, according to a new survey by Accenture. It found 37 per cent of Canadian respondents said they feel they can be productive and healthy primarily while working remotely, while another 41 per cent said they can be productive […]
Members of the Pension Investment Association of Canada saw their managed assets grow by 7.4 per cent in 2020, according to a new report. In its defined benefit asset mix report covering 2020, the PIAC found its members’ DB pensions grew by 7.4 per cent, from $2.286 trillion to $2.454 trillion, over the course of […]
More than 125,000 Canadians became active members in a registered pension plan in 2019, according to a new report by Statistics Canada. It found the number of active members was up two per cent from 2018 to just over 6.5 million. Women accounted for more than three-quarters of the increase in new memberships — up 97,500 from 2018 to 3.3 million — while about 28,000 more men joined […]