Canadian pension plans should expect a decrease in returns across all asset classes and a weakening in investment opportunities in 2017, according to an economic outlook briefing hosted by Willis Towers Watson in Toronto on Thursday. “ . . . The strength we’ve been seeing for a very long time is coming to a close. […]
Canada’s pension and tax regulations need to be updated to address the lack of decumulation options for the growing number of Canadians nearing retirement, according to Kevin Fahey, chair of the Pension Investment Association of Canada. In a letter sent to Finance Minister Bill Morneau this week, Fahey noted that, while the regulations for capital […]
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Many cheered when the federal government lowered the minimum RRIF withdrawals in the 2015 budget, reports Advisor.ca.
Demand grows as firms look to shed pension liabilities.
Many employers that sponsor DB pension plans are considering reducing the risk in their plans. An approach to reduce risk that is gaining popularity is to purchase a group annuity in respect of all or a portion of a pension plan’s retiree (and in some cases deferred vested) obligations.
The evolving annuity: where it’s been and where it’s going
NCR has purchased a single premium group annuity contract from The Principal to transfer about US$160 million ($185.8 million) of pension liabilities.
Visteon Corp. has entered into an agreement to transfer certain American pension assets to Prudential Insurance Company of America to settle approximately US$350 million of Visteon's US$1.1 billion in outstanding pension obligations.
Most regulators do not view a buyout group annuity purchase from an ongoing pension plan as a complete settlement of the obligations covered by the annuity. Some DB plan sponsors with a desire to reduce pension risk face this barrier.
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