The Ontario government’s new investment organization could incentivize institutional investors to take a closer look at infrastructure opportunities in the province, says Iftikhar Ahmed, a wealth solutions partner at Aon. “We work with a large number of pension plans and other institutional investors who would be keen to participate in infrastructure development in the province.” […]
The union representing 8,200 Stellantis employees has ratified a three-year collective agreement that includes pension gains. On Jan. 1, 2025, employees hired on or after Sept. 19, 2016 and currently participating in the company’s defined contribution pension plan will be enrolled in the Colleges of Applied Arts and Technology’s DBplus pension plan. For plan members […]
An article on Fidelity Canada’s win in the Future of work strategy category at Benefits Canada‘s 2023 Workplace Benefits Awards was the most-read story on BenefitsCanada.com over the last week. Here are the five most popular news stories of the week: 1. Fidelity Canada wins award for focusing on flexibility amid return-to-office rollout 2. CPP maximum pensionable earnings increasing to $68,500 […]
The Office of the Superintendent of Financial Institutions’ proposed cybersecurity incident reporting standard could unintentionally lead to duplication and increased risk if it doesn’t reflect differences in technology and risks faced by federally regulated financial institutions and federally regulated pension plans, according to the Association of Canadian Pension Management. While financial institutions’ systems are critical to the functioning of […]
The Pension Investment Association of Canada is urging the federal government to open a comprehensive consultation regarding the cessation of real return bonds. In an open letter, the PIAC said the decision was made without extensive consultations with the primary purchasers of real return bonds, including pension investors. While real return bonds have typically exhibited a lower […]
The Ontario government is launching an infrastructure bank that will leverage investments by public sector pension plans and other Canadian institutional investors. In its fall economic statement on Thursday, the province said it will provide $3 billion in initial funding to the Ontario Infrastructure Bank, which will support the development of new long‐term care homes, […]
The average Canadian defined benefit pension plan returned negative four per cent in the third quarter of 2023, according to two new reports. The RBC Investor and Treasury Services’ universe, which tracks performance and asset allocation across Canadian DB plans, found the most recent quarterly losses mean the average return has decreased to 1.9 per cent […]
While many institutional investors participate in class action lawsuits against investee companies to recover assets lost due to malfeasance, others do so to be activists, according to W. Mark McNair, a securities litigation lawyer at Kaplan Fox & Kilsheimer LLP. Plan sponsors that have suffered a significant loss may file a claim to signal to […]
The Ontario Ministry of Finance’s proposed guidance for multi-employer target-benefit pension plans undermines incentives for employers to contribute towards their employees’ retirement savings, including cost certainty, with unduly burdensome regulatory framework, according to the Association of Canadian Pension Management. In an open letter, the ACPM expressed its hesitation about proposed rules restraining trustees’ ability to prudently […]
Climate and cybersecurity are the leading risk factors concerning Canadian pension plan administrators, according to a pension lawyer. Susan G. Seller, a pension and benefits lawyer at Bennett Jones LLP, adds third-party arrangements and commercial real estate risks round out the most pressing categories for federally regulated pension plans. “We’re living in a time where […]