group annuities – Benefits Canada.com https://www.benefitscanada.com Canada's most influential pension and benefits publication for decision-makers Fri, 22 Nov 2024 22:16:07 +0000 en-US hourly 1 https://wordpress.org/?v=4.9.8 DB pension plan sponsors facing “bottleneck” in annuities market: expert https://www.benefitscanada.com/pensions/defined-benefit-pensions/db-pension-plan-sponsors-facing-bottleneck-in-annuities-market-expert/ Thu, 21 Nov 2024 16:00:30 +0000 https://www.benefitscanada.com/?p=163056 Increased deal-making in the Canadian annuities market is adding pressure to defined benefit plan sponsors seeking to de-risk their plans, says Jason Vary, president of Actuarial Solutions Inc. “[The market is] getting worse,” he says. “This year, I’ve had some experiences where we’re placing some small annuities, under $5 million, and we really struggled to […]

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]]> Canadian pension risk transfer sales decrease to $2.1BN in Q3 2024: report https://www.benefitscanada.com/pensions/defined-benefit-pensions/canadian-pension-risk-transfer-sales-decrease-to-2-1bn-in-q3-2024-report/ Thu, 07 Nov 2024 16:00:54 +0000 https://www.benefitscanada.com/?p=162223 The market volume of annuity purchases by Canadian defined benefit pension plan sponsors reached an estimated $2.1 billion in the third quarter of 2024, a small decline from $2.5 billion in the previous quarter, according to a new report by Telus Health. It noted some insurers are showing a strong appetite and offer competitive pricing […]

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]]> Bristol-Myers Squibb sued for US$2BN pension risk transfer deal https://www.benefitscanada.com/pensions/defined-benefit-pensions/bristol-myers-sued-for-2bn-pension-annuity-transfer-deal/ Thu, 12 Sep 2024 15:00:45 +0000 https://www.benefitscanada.com/?p=159968 Bristol-Myers Squibb Co. is being targeted in a lawsuit over a US$2 billion pension risk transfer deal completed in 2019 with Athene Annuity and Life Co. The class action lawsuit, filed by former employee Charles Doherty and which names independent consultant State Street Global Advisors Trust Co. as a defendant, argues the pharmaceutical company is […]

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]]> Canadian pension risk transfer sales increase to $2.5BN in Q2 2024: report https://www.benefitscanada.com/pensions/defined-benefit-pensions/canada-pension-risk-transfer-sales-increase-to-2-5bn-in-q2-2024-reports/ Thu, 05 Sep 2024 13:00:21 +0000 https://www.benefitscanada.com/?p=159696 The market volume of annuity purchases by Canadian defined benefit pension plan sponsors reached an estimated $2.5 billion in the second quarter of 2024, compared to $1.1 billion in the previous quarter, according to a new report by Telus Health. While plan sponsors that are poised for upcoming transactions have an advantageous position, insurers are […]

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]]> U.S. pension risk transfer sales premium increased 130% in Q1 2024: report https://www.benefitscanada.com/pensions/defined-benefit-pensions/u-s-pension-risk-transfer-sales-premium-increased-130-in-q1-2024-report/ Tue, 18 Jun 2024 19:00:53 +0000 https://www.benefitscanada.com/?p=157083 U.S. pension risk transfer sales reached US$14.6 billion in the first quarter of 2024, a 130 per cent increase from the same period in 2023, according to a report by LIMRA. Single-premium buy-out sales totalled $14.2 billion in the first quarter, up 124 per cent from this period in 2023. There were 146 contracts sold […]

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]]> U.S. pension risk transfer sales premium increased 53% in Q4 2023: report https://www.benefitscanada.com/pensions/defined-benefit-pensions/u-s-pension-risk-transfer-sales-premium-increased-53-in-q4-2023-report/ Fri, 05 Apr 2024 13:00:37 +0000 https://www.benefitscanada.com/?p=153928 The total premium of U.S. pension risk transfer sales reached US$12.7 billion in the fourth quarter of 2023, a 53 per cent increase from the same period in 2022, according to a report by LIMRA. It found that pension risk transfer sales totalled $45.8 billion in 2023, down 13 per cent from 2022. There were […]

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]]> Top 5 HR, benefits, pension and investment stories of the week https://www.benefitscanada.com/news/bencan/top-5-hr-benefits-pension-and-investment-stories-of-the-week-74/ Fri, 01 Mar 2024 14:00:43 +0000 https://www.benefitscanada.com/?p=152588 An article detailing Ford of Canada’s transfer of $923 million in pension plan liabilities through a group annuity buyout was the most-read story on BenefitsCanada.com. Here are the top five human resources, benefits, pension and investment stories of the past week. 1. Ford Canada transferring $923 million in pension liabilities via group annuity buyout 2. AIMCo highlighting importance […]

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]]> Ford Canada transferring $923 million in pension liabilities via group annuity buyout https://www.benefitscanada.com/pensions/defined-benefit-pensions/ford-canada-transferring-923-million-in-pension-liabilities-via-group-annuity-buyout/ Thu, 22 Feb 2024 14:00:04 +0000 https://www.benefitscanada.com/?p=152217 Ford of Canada is is transferring the longevity risk for $923 million in pension plan liabilities through a group annuity buyout. RBC Insurance, Sun Life Assurance Co. of Canada and Desjardins Group will assume responsibility for making pension payments to 2,700 of the plan’s members, who retired on or prior to June 1, 2021. Read: GM Canada […]

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]]> U.S. pension risk transfer sales increased 39% in Q3 2023: report https://www.benefitscanada.com/pensions/defined-benefit-pensions/u-s-pension-risk-transfer-sales-increased-39-in-q3-2023-survey/ Mon, 08 Jan 2024 14:00:39 +0000 https://www.benefitscanada.com/?p=149973 U.S. pension risk transfer sales increased by 39 per cent during the third quarter of 2023, according to a report by LIMRA. It found single premium buyout sales were US$8.1 billion, 69 per cent lower than this time last year. Year-to-date, buyout sales fell 30 per cent to $28.9 billion compared to 2022. There were […]

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]]> What do rising inflation, interest rates mean for pension de-risking? https://www.benefitscanada.com/archives_/benefits-canada-archive/what-do-rising-inflation-interest-rates-mean-for-pension-de-risking/ Fri, 18 Mar 2022 12:56:34 +0000 https://www.benefitscanada.com/?p=117924 After navigating the unpredictable markets of the past two decades, some defined benefit pension plan sponsors could be forgiven for wanting to seek out some certainty. But a new threat has emerged in the form of rapidly rising inflation and the possibility of rate increases after decades of persistent lows. The consumer price index increased […]

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