More than 60 per cent of Canadians are concerned they’ll outlive their retirement savings and 45 per cent don’t feel confident they’ll be able to afford the post-work lifestyle they want, according to a new survey by RBC Insurance Services Inc. The survey, which polled 1,000 Canadians aged 55 to 75, also found respondents use a […]
Some $2.5 billion of group annuity purchases were placed during the first three quarters of 2017, in line with the total annual sales for the past few years, according to Willis Towers Watson’s latest report on the Canadian annuity market. The vast majority of year-to-date annuity transactions were for ongoing pension plans, which demonstrates the continued trend […]
Retirement savings products once again led the way in the growth of the life and health insurance industry, according to the Canadian Life and Health Insurance Association’s annual fact book. Of the $631 billion in employer-sponsored pension plans, the industry managed $142 billion in 2016, up from $131 billion in 2015. And life insurers paid […]
As pension plans move into better solvency positions this year, should they be lowering their risks by purchasing an annuity or looking at investment strategies to manage them in-house? From a private debt perspective, it’s possible for a plan to structure investments to mirror the de-risking benefits of buying an annuity from an insurance company, […]
While defined contribution plans were a small piece of the pension market when Benefits Canada first rolled off the presses in 1977, the Co-operative Superannuation Society had already been operating for almost 40 years by that point. Founded in 1939 in Saskatoon, the society’s pension plan is one of the country’s oldest and largest defined […]
The Canadian Life and Health Insurance Association is recommending a number of ways the federal government can help ensure Canadians’ retirement income security in its submission for the 2018 federal budget. With more Canadians moving into capital accumulation plans, people need to have better options available to help secure their retirement, wrote the organization, noting there’s […]
The gross income replacement level of capital accumulation plans has remained steady for both males and females over the previous quarter, while increasing investment returns were offset by a slight decrease in annuity rates, according to Eckler Ltd.’s capital accumulation plan income tracker. The tracker assumes the member made annual contributions at a rate of […]
A recent Benefits Canada pulse survey teases out the risks that really keep pension funds up at night.
Head of pensions looks to reduce risk from its inflation-linked DB plans.
Loblaw Companies Ltd. has purchased annuities from Sun Life and BMO Insurance to reduce risk from its inflation-linked defined benefit pension plans. Read: Is it time to permit deferred annuities? The transaction, which amounted to about $350 million, is one of the largest completed in Canada, said Marco Dickner, retirement risk management leader at Willis Towers […]
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