The funded position for an average Canadian defined benefit pension plan improved slightly on both a solvency and accounting basis in June, according to a new report by LifeWorks Inc. (formerly Morneau Shepell Ltd.) The average solvency ratio was 109.3 per cent in June, compared to 108.2 per cent in May. On an accounting basis, the average […]
The aggregate funded ratio for Canadian defined benefit pension plans in the S&P/TSX composite index increased from 94.8 per cent in the first quarter of 2021 to 95.6 per cent in the second quarter, according to a new report from Aon. It also found pension assets rose by four per cent during the same period. The […]
There could be “unintended consequences” if a bill conferring preferred creditor status to defined benefit pension plan members during bankruptcies passes through Canada’s House of Commons, according to an open letter from the Pension Investment Association of Canada. In an open letter, to Michael MacPherson, clerk of the standing committee on industry, science and technology, from Natasha Trainor, […]
The funded position for an average Canadian defined benefit pension plan improved slightly during May, with a solvency of 108.2 per cent, according to a new report by LifeWorks Inc. (formerly Morneau Shepell Ltd.) On an accounting basis, it found expenses for the average pension plan had dropped precipitously since the beginning of 2021, at […]
The University Pension Plan has appointed Brian Minns as its first managing director of responsible investing. Prior to joining the UPP, Minns spent 10 years working for Addenda Capital Inc, culminating a three-year tenure as its vice-president of sustainable investing. In that role, he was responsible for impact investing and the implementation of environmental, social and […]
The Association of Canadian Pension Management is urging parliamentarians to vote down the final version of a new bankruptcy and insolvency bill. If passed, Bill C-253, also titled the Bankruptcy and Insolvency Act and the Companies’ Creditors Arrangement Act (pension plans and group insurance plans), would force super priority on Canadian pension plan members in […]
Despite market uncertainty due to the coronavirus pandemic and a turbulent U.S. presidential election cycle, Canadian defined benefit pension plans ended the year with near double-digit gains, according to a report by the RBC’s Investor & Treasury Services. Amid the once-in-a-century crisis, market returns in 2020 for retirement assets were 9.2 per cent, noted the […]