The Nova Scotia Teachers’ Pension Plan returned 6.78 per cent in 2020, increasing net assets to $5.519 billion, but falling short of the policy benchmark of 7.96 per cent. The plan did outperform the actuarial assumed rate of return of 5.70 per cent. “Like many pension plans across the country impacted by COVID-19, we saw […]
Penad Pension Services Ltd. is acquiring Ontario-based SeclonLogic Inc., a defined benefit pension plan and group benefits administration software solutions company. “I am confident that this transaction will leverage the products and services of the combined firm to the benefit of our clients and partners,” said Matthew Price, president of the Penad Group of Companies, in […]
General Motors of Canada Co. is transferring the longevity risk for $1.8 billion in pension plan liabilities through a group annuity buyout. Jennifer Wright, director of communications at GM Canada, said in a statement that the automaker has been taking steps to reduce risk and strengthen its retirement plans with a view to protecting the […]
The Financial Services Regulatory Authority of Ontario is issuing leading practices for the province’s defined benefit multi-employer pension plans, in the areas of governance, risk management and communication. In the area of governance, these practices include establishing a comprehensive orientation policy to onboard new trustees to ensure they begin their term prepared to carry out their duty. […]
Canada’s multi-employer pension plans are facing a wide range of challenges, from funding requirements to future growth, according to a recent webinar hosted by the Association of Canadian Pension Management. The group benefits and pensions division of Newfoundland & Labrador Municipal Employee Benefits Inc. is currently seeking a renewal of its solvency-funding exemption from the […]
The Alberta Teachers’ Association is taking legal action against the recent ministerial order enacted on several of the province’s pension plans, including the Alberta Teachers’ Retirement Fund. In documents submitted to court on March 10, the association argues the terms and conditions imposed in Finance Minister Travis Toews’ order are inconsistent with the province’s Teachers’ […]
Approximately 500 members of the St. John Ambulance pension plan are joining the Colleges of Applied Arts and Technology pension plan’s DBplus arrangement. The not-for-profit organization’s pension plan is comprised of an ongoing defined contribution plan and a defined benefit plan that was closed at the end of 2014, according to a press release. The […]
The funding status and confidence of Canadian defined benefit pension plans declined in 2020 amid the coronavirus pandemic and a low interest-rate environment, according to a new survey from RBC Investor & Treasury Services. It found among 122 respondents, 50 per cent reported their plans were fully funded on a going-concern basis, down significantly from […]
As a new decade revs up, is it time for capital accumulation plan sponsors to revisit the investment vehicles they offer? According to a recent whitepaper from Sun Life Global Investments, the aggregate capital in defined contribution plans in their largest markets — Australia, Canada, Japan, the Netherlands, Switzerland, the U.K. and the U.S. — […]
A rally on the stock market in the fourth quarter helped boost the strength of Canadian defined benefit pension plans to end the year, a report by Mercer Canada said Monday. The consulting firm said its pension health index, which represents the solvency ratio of a hypothetical defined benefit pension plan, rose to 114 per […]