An article on Canadian employers increasing salaries and offering remote work to attract talent was the most-read story on BenefitsCanada.com over the last week. Here are the five most popular news stories of the week: 1. Canadian employers increasing salaries, offering remote work to attract talent: survey 2. Expert panel: How national dental care could impact group benefits […]
The union representing more than 200 employees at Arconic Corp. in Lethbridge, Alta. has ratified a four-year collective agreement that protects the defined benefit pension plan currently in place. “Local 99 members showed great commitment to fairness in the face of [threats to] their pension plan,” said Justin Araki, Local 99 president, in a press […]
Alcoa Corp. is de-risking roughly US$1 billion in U.S. defined benefit pension obligations and assets with an annuity transfer. The group annuity contracts will be executed by two subsidiaries of Athene Holding Ltd., which will assume payments for roughly 4,400 participants in November, according to a press release. Read: Looking under the hood of jumbo […]
The Pension Investment Association of Canada is providing feedback on the International Sustainability Standard Board’s exposure drafts on disclosure of financial information pertaining to sustainability and climate change. In an open letter responding to a consultation by the ISSB, the PIAC said while it supports the ISSB’s decision to build upon existing reporting frameworks — […]
The Canada Pension Plan Investment Board is the world’s most transparent pension fund, according to the global pension transparency benchmark, a collaboration between Top1000funds.com and CEM Benchmarking Inc. The benchmark, launched in 2021, measures the transparency of disclosures of 15 pension systems across measurements such as cost, governance, performance and responsible investing. While the rankings are […]
Canadian defined benefit pension plans’ assets experienced losses of 8.6 per cent in the second quarter of 2022, bringing year-to-date total returns to negative 14.7 per cent, according to a new report by RBC Investor and Treasury Services. It was the most significant decline since the third quarter of 2008, when assets also fell by 8.6 […]
Dave Muffley thought he had it made when it came to a solid retirement. The Indiana man spent roughly 30 years as a salaried maintenance technician for Delphi Corp. — a subsidiary of General Motors Corp. — and expected to retire with a comfortable income by the time he hit age 62. But when GM […]
The California Public Employees’ Retirement System is reporting a net loss of 6.1 per cent for its last fiscal year, according to its preliminary annual results. During the year ending June 30, 2022, the public sector defined benefit pension plan’s value decreased from $466.84 billion to $440 billion. According to a press release, the losses […]
The appointment of the TTC pension plan’s first director of investment risk and analytics was the most-read story on BenefitsCanada.com over the last week. Here are the five most popular news stories of the week: 1. TTC pension plan appointing Danny Ip director of investment risk and analytics 2. More than 6.6M Canadians participating in employer-sponsored pension plans: […]
The percentage of Canadians participating in an employer-sponsored pension plan continues to rise, with roughly 6.6 million plan members in 2020, up 57,000 from 2019, according to a new report from Statistics Canada. It found more than 4.4 million Canadians were covered by a defined benefit pension plan in 2020, up 1.7 per cent from 2019, noting the majority (72 […]