British Columbia’s wildfires have crystallized the threats pension plan administrators across that province face from catastrophic climate change events, says Damara Kiceniuk, senior risk analyst of pensions at the B.C. Financial Services Authority. However, these fires are just one catastrophic risk pension funds have to manage. These risks have prompted the organization to release a discussion […]
The Financial Services Regulatory Authority of Ontario is appointing Andrew Fung as acting executive vice-president of pensions. Fung joined the provincial regulator in 2018 as chief actuary of pensions. In 2019, he was appointed the organization’s head of relationship management and prudential supervision (pensions). Read more People Watch news. Prior to joining the FSRA, Fung […]
An article on whether Canada should implement flexible working legislation was the most-read story on BenefitsCanada.com over the last week. Here are the five most popular news stories of the week: 1. Should Canada implement flexible working legislation for all workplaces? 2. How DC plan sponsors can prevent a Muslim pension gap 3. How employers can support employees impacted by […]
The union representing roughly 350 Canadian employees at Tennessee-based Yellow Corp. says the trucking company’s abrupt closure will have little to no impact on Canadian workers’ pensions. According to a spokesperson at Teamsters Canada, Yellow’s Canadian employees are enrolled in one of four defined benefit pension plans — all of which are fully or almost […]
A new study looking at the implications of scale in defined benefit pension plans found size is key for several trends over time, including investment mandates, asset allocation and cost in returns. The research, ‘Scale Economies, Bargaining Power and Investment Performance: Evidence from Pension Plans‘ was recently awarded first prize in the International Centre for […]
The average Canadian defined benefit pension plan posted returns of 0.8 per cent in the second quarter of 2023, according to RBC Investor and Treasury Services’ universe. Foreign equities emerged as the top performing asset class, boasting a median return of 2.9 per cent. In comparison, the MSCI world index returned 4.5 per cent, primarily […]
With the Muslim population steadily growing in Canada, employers that offer defined contribution pension plans can avoid unintentionally creating a pension gap by providing these members with access to retirement savings solutions that align with their faith. Under Shariah law, Muslims can’t hold investments that would bring social or environmental harm, such as shares in […]