Jim Keohane is retiring from his role as president and chief executive officer of the Healthcare of Ontario Pension Plan in March 2020. “Jim is well-respected around the world for his pension advocacy, investment strategy and leadership,” said Adrian Foster, chair of the HOOPP board of trustees, in a press release. “Under his leadership, he and […]
Alongside recent reforms to funding rules for Ontario-registered defined benefit pension plans, the Ontario government also made changes to the pension benefits guarantee fund, including improvements to benefits payable by the PBGF and changes to its annual assessment paid by employers. Employers should budget for the change in their assessments, effectively beginning with assessments due in 2019. […]
OMERS Ventures, the venture capital investment arm of the Ontario Municipal Employees Retirement System, is expanding into Europe with the launch of a 300 million euro fund. Focusing on innovative technology startups, the fund’s aim is to support a multi-year global strategy for OMERS, following a major uptick in startup activity in Europe, according to a release. […]
The Association of Canadian Pension Management has mixed feelings about the federal government’s proposed methods for enhancing retirement security in the wake of the high-profile Sears Canada Inc. bankruptcy last year. During an ACPM webinar last week, Todd Saulnier, the chair of ACPM’s national policy committee and a principal at Mercer, said some of the federal government’s options […]
Employees at Glencore Canada’s Brunswick Smelter operation are considering striking over what their union is calling “never-ending” concession demands from the company on pensions and benefits packages. While members of the United Steelworkers Local 7085 are expected to vote on a strike on March 28 and 29, negotiations between the employer and the union, which represents […]
In its 2019 budget on Tuesday, the federal government announced a number of proposals regarding pension protections, off the back of recent high-profile corporate bankruptcies that have thrown the sustainability of some Canadians’ defined benefit plans into doubt during the past few years. Indeed, the federal government received 4,400 submissions in response to its request for comment on the […]
The Shareholder Association for Research and Education is joining the College of Applied Arts and Technology’s new DBPlus pension plan. “As a small, non-profit organization, it’s difficult for us to access the kinds of plans that have traditionally been available to larger organizations,” says Kevin Thomas, executive director of the SHARE. “So, like other non-profits, […]
The Office of the Superintendent of Financial Institutions is introducing regulations amending the assessment of pension plans on April 1, 2019. The amendments aim to streamline the process and eliminate assessments for certain terminated pension plans, noted a release from the OSFI. In July 2018, it consulted with plan administrators about the proposed amendments, with no concerns or objections […]
The Canadian Labour Congress’ wish list for the upcoming 2019 federal budget includes universal national pharmacare and pensions and retirement security. For pharmacare, the group is calling on the federal government to implement a national plan. “Budget 2019 must outline the federal government’s plan and budget future expenditures to implement a universal, single-payer pharmacare program […]
U.K. pension plans could see an easing of their liabilities, based on the latest longevity data from the country’s Institute and Faculty of Actuaries in its continuous mortality investigation (CMI). The report showed both men and women’s longevity, as of age 65, has decreased by about six months compared to 2017. Indeed, the 2018 version of […]