The Financial Services Commission of Ontario has clarified its guidance note on how environmental, social and governance factors should be incorporated into a plan sponsor’s statement of investment policies and procedures. In the previous version of the note, FSCO stated plan sponsors should include the information described in each of the three following paragraphs: Either a broad statement that it incorporates all ESG factors, […]
The New Democratic Party tabled a private member’s bill Monday to amend Canada’s insolvency laws so they protect pension plans and post-retirement benefits when a company is in financial trouble. The bill, tabled by the party’s pensions critic Scott Duvall, follows the NDP’s End Pension Theft campaign, which was launched in September. The campaign is aimed at fixing […]
The federal government has introduced a new bill that would amend the Canada Labour Code to address harassment and sexual violence in federally regulated workplaces. The bill proposes to make changes to existing provisions in the labour code to enact a single approach that covers all harassment and violence and expands the policies to cover parliamentary […]
The Caisse de dépôt et placement du Québec’s real estate arm, Ivanhoé Cambridge, has appointed Chanakya Chakravarti as managing director of India, growth markets, effective Jan. 8, 2018. In the role, Chakravarti will be responsible for implementing investment and asset management strategies in India. With more than 27 years of experience, including 20 years in real estate advisory, investment and […]
The market for transferring pension risk could total up to $10 billion over the next three years, according to a new report from Eckler Ltd. In fact, some estimates see risk transfers over that time frame reaching $15 billion, the report, based on interviews with insurers active in the pension annuity market, noted. According to the […]
The median solvency ratio for Canadian defined benefit plans rose to 100.7 per cent in October as equity markets continued to rally, according to Aon Hewitt’s monthly median solvency ratio survey. The figure is 1.4 percentage points higher than the beginning of October and the highest level since the survey recorded 102 per cent in 2002. Of surveyed plans, […]
Michael Doughty, president and chief executive officer of Manulife Financial Corp.’s Canadian operations, will take on the role of chair of LL Global Inc.’s board of directors for 2018. He succeeds Rino D’Onofrio, president and chief executive officer of RBC Life Insurance Co., in the role. The LL Global board provides oversight and guidance to LIMRA and LOMA, two […]
More than 80 per cent of Canadian employees would be interested in an employer-provided financial education program, according to a new survey by the Canadian Payroll Association. The survey, published during Financial Literacy Month, indicates that Canadians are dealing with increased financial stress, and that 50 per cent feel it affects their on-the-job performance. “Financial stress […]
The infrastructure arm of the Ontario Municipal Employees Retirement System is increasing its investment in Britain’s largest water company. OMERS Infrastructure is purchasing an additional 4.36 per cent interest in Kemble Water Holdings Ltd., the holding company of Thames Water Utilities Ltd., from Hermes Investment Management. Read: OMERS’ infrastructure arm invests in Thames Water In March 2017, OMERS Infrastructure […]
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