An article on Stelco Inc.’s $1.3 billion annuity buy-in for one of its defined benefit pension plans was the most-read story on BenefitsCanada.com over the last week. Here are the five most popular news stories of the week: 1. Stelco entering $1.3BN annuity buy-in for DB pension 2. KPMG allowing employees to work remotely from another province, country […]
The Association of Canadian Pension Management is providing feedback on the Accounting Standards Board’s proposed amendments to the Chartered Professional Accountants of Canada’s handbook, including changes to sections covering defined benefit pension plan obligations and amalgamations. In an open letter responding to the board’s proposal, Ric Marrero, chief executive officer of the ACPM, said when […]
The Canadian pension risk transfer market registered about $6.6 billion in annuity sales in the second half of 2021, far exceeding the activity of any previous calendar year, according to a new report by Eckler Ltd. It found total annual sales of about $7.7 billion were generated in 2021, with more than $200 million in business […]
Despite market upheaval as a result of the coronavirus pandemic, the Canadian pension risk transfer market had its third-best year for group annuity transactions, according to Eckler Ltd.’s latest report. By the end of 2020, pension risk transfer market transactions totalled $4.45 billion, only slightly behind 2018’s $4.5 billion but below 2019’s $5.2 billion, noted the report. […]
It’s hard to believe that just recently, people weren’t cutting their own hair or binge-watching Tiger King. At the beginning of the year, defined benefit funding levels were at record highs and many pension plan sponsors were considering reducing their pension risk. Fast forward a few months and the novel coronavirus has turned the world […]