An article on the federal government’s decision to transfer a $1.9 billion public pension surplus to general revenue was the most-read story on BenefitsCanada.com this past week. Here are the top five human resources, benefits, pension and investment stories of the last week: 1. Feds’ decision to transfer $1.9BN public pension surplus to general revenue within its […]
According to Statistics Canada, 80 per cent of Canadian public sector workers benefit from a respectable, life-long pension. However, for many private sector employees the quality of the pension plan available to them leaves much to be desired. The typical private sector pension is a defined contribution plan, which means employees bear the risk of […]
The federal government’s recent decision to transfer a $1.9 billion surplus from the Public Service Pension Plan to its general revenue is within its purview, says Mitch Frazer, a pension lawyer and managing partner at Mintz, Levin, Cohn, Ferris, Glovsky and Popeo. “[This situation is] slightly different because this plan is made by a statute and, […]
An article about the National Institute on Ageing’s report on missing pension plan members was the most-read story on BenefitsCanada.com this past week. Here are the top five human resources, benefits, pension and investment stories of the last week: 1. NIA addressing issue of missing pension plan members with new report 2. 88% of employees with disabilities, neurodivergence […]
Brad Lander is advocating for public pension funds to enforce their responsible investment mandates even if that pits them against their partners. As New York City comptroller and chief financial officer, he’s the investment advisor and custodian for the city’s five public pension funds. In the role, he oversees the investment guidelines and allocations strategy […]
Amendments to the federal Pension Benefits Standards Act must go beyond reporting transparency and clarify how additional disclosure requirements help monitor the health of Canadian pension plans, said the Pension Investment Association of Canada. In an open letter to Finance Canada, the PIAC said if current data collection processes for federally regulated plans aren’t achieving […]
The National Institute on Ageing is addressing the issue of missing pension plan members, in a new report highlighting the challenges faced by plan administrators and individuals entitled to unclaimed pension benefits. The report provides a framework for decision-making and emphasizes the importance of collaborative efforts from all sectors — government agencies, plan sponsors, financial […]
The Ontario Municipal Employees’ Retirement System is reporting inflation adjustment of 2.61 per cent, providing plan members with full inflation protection in 2025. The adjustment is calculated at 100 per cent of the percentage increase in the 12-month average consumer price index for the period ending in October over the average for the same period […]
While global pension plan sponsors’ assets grew by 10 per cent to reach US$63.1 trillion in 2023, this value is still five per cent lower than in 2021, according to a new report by the Organisation for Economic Co-operation and Development. It found this growth was largely attributed to gains in equity markets last year […]
The Canada Pension Plan Investment Board is investing $1 billion in Korea-based data centres through its joint venture with the Pacific Asset Management Co. “The demand for data centres in [the Asia-Pacific region] has been on the rise, driven by the continued need for cloud computing and the increasing global adoption of artificial intelligence,” said […]