Imagine there was an option to assemble the ideal retirement savings plan: a pinch of automatic features, a teaspoon of benefits guarantee, a cup of pooled investments, stirring the best elements of a defined benefit pension into the structure of a defined contribution plan. It may not be as simple as combining ingredients, but as […]
The majority (84 per cent) of organizations in Canada’s non-profit sector said inconsistent revenue or funding is the biggest barrier to offering a pension plan, according to a survey by Common Good Retirement Initiative. Three-quarters (73 per cent) of survey respondents said offering a plan would be too expensive, 59 per cent said it would be […]
Canada Post issued wide-ranging new contract offers to its employees Wednesday in the hope of preventing a work stoppage at the Crown corporation ahead of the busy holiday online shopping season, The Canadian Press has learned. The offers included “improvements to pay and benefits, adding job security for rural and suburban employees and no changes […]
A report from Nova Scotia’s auditor general is once again highlighting the “troubling” state of the Nova Scotia teachers’ pension plan, which is 78.4 per cent funded and has a $1.4 billion deficit. The province is responsible for half of that figure. Auditor general Michael Pickup warned there is no formal plan on how to deal with […]
In the third quarter of 2018, Canadian defined benefit pension plans reached their highest solvency ratio of any quarter since November 2000, according to Mercer’s latest pension health index. Representing a hypothetical plan, the index reached a 112 per cent solvency level as of Sept. 28, 2018, up from 107 per cent at the ned of […]
Members of Torstar Corp.’s eight defined benefit pension plans have agreed to merge with the Colleges of Applied Arts and Technology pension plan. Starting Oct. 1, 2018, the plans will be part of CAAT, pending the consent of the superintendent of the Financial Services Commission of Ontario. Once approved, the Torstar plan members will start accruing benefits under […]
The pension and retirement savings was once again the growth leader in the life and health insurance industry in 2017, according to the Canadian Life and Health Insurance Association’s annual fact book. Of the $651 billion held in employer-sponsored pension plans last year, the industry was responsible for managing $152 billion, which is up from […]
The Canadian Alliance of Nuclear Workers is calling on the federal government to allow employees to remain members of the public service defined benefit pension plan. While several nuclear facilities were formerly crown corporations, they underwent a transition to become government-owned, contractor-operated entities beginning in 2014. As a part of the change, employees at Canadian Nuclear Laboratories […]
The Ontario Teachers’ Pension Plan has named Steve Buck as its new managing director of technology infrastructure. In the role, Buck will be responsible for developing and implementing the strategy, operation and ongoing improvement of the pension fund’s technology infrastructure. With more than 25 years of experience, Buck was most recently vice-president of infrastructure operations at […]
Just one Canadian pension fund ranked in the top 20 global funds based on their responses to the recommendations of the task force on climate-related financial disclosures, according to new research by the Asset Owners’ Disclosure Project. The Ontario Teachers’ Pension Plan, which was awarded a BBB rating, placed No. 16 out of the top 100 […]