Members of the Pension Investment Association of Canada saw their managed assets grow by 7.4 per cent in 2020, according to a new report. In its defined benefit asset mix report covering 2020, the PIAC found its members’ DB pensions grew by 7.4 per cent, from $2.286 trillion to $2.454 trillion, over the course of […]
Colleges and Institutes Canada is the latest employer to join the Colleges of Applied Arts and Technology’s DBplus pension plan. The organization, which is the voice of Canada’s colleges, Collèges d’enseignement général et professionnel, polytechnics and institutes, works with employers, governments and stakeholders, as well as helping partners around the world transform their education systems. CICan’s […]
If there was a Hall of Fame for catastrophic years, 2020 would be a certainty for admission, with Canada among many nations around the globe struggling through a sickening cycle of coronavirus pandemic waves, interrupted only by economic and societal lockdowns. But take a look at the Colleges of Applied Arts and Technology pension plan’s […]
The New Digital Research Infrastructure Organization, the Ontario Dental Association and its subsidiary Accerta are joining the Colleges of Applied Arts and Technology’s DBplus pension plan. The not-for-profit organization, dental association and health-care program administrator all recently transferred to the pension plan from group registered retirement savings plans. “The talent that we’re trying to attract typically […]
Two executives at the Pennsylvania-based Public School Employees Retirement System have survived an effort by trustees to oust them from their positions due to investment underperformance. On June 11, PSERS’ executive director Glen Grell and chief investment officer James Grossman were spared being put to a vote of no confidence after the vote was removed […]
At the end of March 2020, Newfoundland and Labrador had $4.89 billion in unfunded pension liabilities, including unfunded liability and promissory notes, according to a report released last week by the premier’s economic recovery team. Added to the province’s $3.29 billion in unfunded liability related to employee benefits, this results in financial exposure of $8.18 […]
The recent announcement that General Motors of Canada Co. purchased $1.8 billion of annuities for its salaried pension plan is creating a lot of excitement. GM Canada joins a growing list of plan sponsors who’ve purchased sizeable annuities in the last few years: Stelco Inc. ($885 million), Alcoa Corp. ($750 million), Rio Tinto Group ($560 […]
The average defined benefit pension plan saw its funded position continue to improve in April on a solvency and accounting basis, according to a new report by Morneau Shepell Ltd. During the month, bond yields and credit spreads stabilized, although long-term bond yields increased slightly, negatively affecting long-term fixed income returns. Global equities performed well, […]
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 […]