The Canada Pension Plan Investment Board and the Ontario Municipal Employees’ Retirement System are selling their respective interests in a Chicago toll road. The investment organizations, which each hold 33.3 per cent stakes in the Skyway Concession Co., are selling their interests to Atlas Arteria Ltd., an Australian toll road investor. SCC manages, operates and […]
The federal government is aiming to launch the first phase of its national dental-care program on Dec. 1. The program, which will provide dental care for uninsured households earning less than $90,000 annually, will initially provide coverage of up to $650 per year for children aged 12 and younger, according to a press release. The […]
International Business Machines Corp. is entering a US$16 billion pension risk transfer. The annuity transaction will see 40 per cent of IBM’s defined benefit pension plan’s liabilities transferred. The Prudential Insurance Co. of America and Metropolitan Life Insurance Co. will each insure half of the payments for 100,000 IBM plan participants and beneficiaries. Prudential will […]
Just 19 per cent of Canada’s investment managers say they’ve adopted a fully remote working model as of September 2022, according to a survey by the Portfolio Management Association of Canada. The survey, which polled more than 100 investment managers among the PMAC’s membership, also found more than a quarter (26 per cent) said they’re […]
The value of a typical Canadian defined benefit pension plan’s assets declined in August, according to LifeWorks Inc.’s latest monthly report. An investment portfolio designed to mimic typical Canadian DB portfolios saw its assets shrink by 2.4 per cent over the month. The value of the benchmark portfolio, which is composed of 50 per cent […]
More than half (57 per cent) of global pension plan sponsors are very concerned about the prospect of looming stagflation, according to a new survey by Ortec Finance Ltd. Based on a series of interviews with Australian, British, Canadian, Danish, Dutch, Norwegian, Swedish and Swiss pension plan sponsors in June, the survey also found respondents […]
The Canada Pension Plan Investment Board is acquiring a stake in a financial management company. The Universal Investment Group Llc, which operates several offices throughout Europe, has about €760 billion in assets under administration. Its administration, structuring and distribution solutions services are used by 470 institutional investors. It also offers advisory services related to securities, […]
Half (49 per cent) of U.S. employees say they’re burned out from their jobs, down from 58 per cent in August 2020, according to a new survey by Eagle Hill Consulting. The survey, which polled 1,000 employees, found the top sources of burnout cited by respondents are workload (48 per cent), staffing shortages (45 per […]
Amid a backdrop of economic uncertainty and a tight labour market, Canadian employers are still planning average salary increase budgets of 3.8 per cent, excluding salary freezes, in 2023 — a rate higher than historical trends, according to a survey by Normandin Beaudry. The survey, which polled more than 750 employers and nearly 1.8 million employees, also […]
AGA Benefit Solutions is acquiring Vancouver-based Aptus Benefits Inc., a group benefits and retirement consultancy with expertise in collectively bargained plans and executive disability programs. Private equity firm Novacap will finance the acquisition, which is expected to expand AGA Benefit Solutions’ reach into Western Canada, according to a press release. Read: AGA Benefit Solutions acquiring J&D Benefits […]