Why markets can't save the pension promise.
On the heels of recent high-profile pension insolvencies such as Nortel, a patchwork of confused and ill-conceived remedial legislation in 2010 is at various stages of consideration. Bill C-501 has been criticized as potentially accelerating the demise of defined benefit pension plans by causing a re-pricing of bonds issued by employers facing higher financing costs, […]
In November, several companies south of the border issued bonds and the proceeds of the sale were used to help fund pension deficits. These companies include such venerable names as United Parcel Service Inc (UPS), Dow Chemical Co. and Northrop Grumman Corp. Is such a strategy sound, given the potential outcomes? What are its risks? […]
Last night’s “take-note” debate in the House of Commons saw all four federal political parties making sincere proposals, none of which would satisfy everybody. “Take-note” debates see the Commons form as the committee of the whole to discuss policy decisions before the government. This debate essentially reprised the preceding one on Liberal Judy Sgro’s private […]
On the afternoon of the last Friday in August, the federal Department of Finance quietly released 221 dense pages of draft income tax legislation. Because Parliament is not currently in session, this draft is not a “bill” per se. Rather, it has been labeled as a “consultation draft”, with comments welcomed by Finance’s Tax Policy […]
Leveraged Canadian stock portfolios: long-term effects on wealth and risk.
2010 DC Plan Summit report May 07, 2010 | Various authors Our 11th annual DC Plan Summit, Looking Back To Look Forward, offered plan sponsors a vision of the future. From pension reform to new investment and communication strategies, delegates shared informative presentations and insightful dialogue to help shape the DC industry. Session 1 – […]
Other Brieflies this week:| MON | TUE | WED | THU | FRI | A new report by the Certified General Accountants Association of Canada (CGA-Canada) reveals that 92% of private sector defined benefit (DB) pension plans are in a deficit position, more than double the number from five years ago. The report, entitled Gauging […]
The release of Ontario’s 2010 budget will come mostly as good news to plan sponsors of defined benefit (DB) pension plans. References to pension reform and innovation abound, as do promises to hold consultations. However, there are no references to defined contribution (DC) plans and no firm commitments on any issue. Pensions Ontario Finance Minister […]
Other Brieflies this week:| MON | TUE | WED | THU | FRI | Rogers Publishing has launched a new website for Canadian Investment Review. This new site, replacing the print journal, has the flexibility and tools to act as a forum for the Canadian investment community and will be more effective in serving this […]