Three years ago, the Alberta Pensions Services Corp. was facing a bitter fact. Though one of our key corporate goals is to begin paying benefits within 30 days of plan members completing their retirement application, we were reaching this goal for barely one of every four retirees. This was a significant issue. APS administers the […]
The New Brunswick Public Service Pension Plan is providing a full cost of living adjustment to its almost 38,000 members for the sixth straight year. The 1.88 per cent adjustment, which is based on Canada’s consumer price index, is the highest its ever handed out, according to a news release. The adjustment is applied to […]
The Ontario Teachers’ Pension Plan posted a net return of 3.2 per cent for the first half of 2018, adding $4.4 billion to the plan as of June 30, 2018. Speaking on a conference call on the mid-year result, Ron Mock, president and chief executive officer at the OTPP, called the first six months of […]
Only 40 per cent of Canadians who are classified as precarious workers have access to pension plans or registered retirement savings plans, compared to 85 per cent of those who are identified as secure professionals, according to a new report by the Canadian Centre for Policy Alternatives. The report, which surveyed 1,000 Canadians, found 78 per cent are secure professionals, while […]
SEI Investments Canada Co. has appointed Lucy Paglione as senior client portfolio manager. In the new role, Paglione will be responsible for managing relationships with the firm’s Canadian defined benefit pension and non-profit employer clients. Her focus will be on the firm’s outsourced chief investment officer services, building custom investment strategies for those clients. Read: Assets managed by U.S. […]
Air Canada is seeking finance ministry approval to form its own life insurance company as a gateway to the annuities market and a hedge against looming pension payouts. A spokesperson says the airline aims to shore up pension risks by buying annuities from Canadian insurers and reinsuring the fixed payments through an insurance subsidiary. The Montreal-based carrier […]
The Pension Investment Association of Canada has submitted its comments on the federal government’s unclaimed pension balances framework, noting the solution to the problem is the establishment of public sector agencies with a mandate to receive the balances. The letter noted unclaimed balances are a major and growing problem for federally-regulated pension plans. While there has […]
While retirement income security is top of mind for many Canadians, British Columbia’s public sector pension plans are noteworthy models that can be emulated by sponsors seeking plan design solutions, particularly when it comes to governance. Some other Canadian jurisdictions have introduced, or are in the process of developing, pension governance models similar to British Columbia, but […]
The Caisse de dépôt et placement du Québec has appointed Alexandre Synnett as its new executive vice-president of digital technology and operations. With eight years of experience at the pension fund, Synnett was previously senior vice-president of operations; vice-president of operations for private equity, infrastructure and data management; vice-president of data management; and associate vice-president of the […]
How do the following sound as headlines for the cover of Benefits Canada? Are they likely to make the cut any time soon? • “My boss is 89” • “Remember when we went to the doctor’s office?” • “On-the-job diagnosis” • “Machines don’t need benefits” • “Artificial benefits” • “Shareholders elect first AI CEO (actuary’s […]