With group retirement plans aimed at helping members avoid risks and achieve their savings goals, defined contribution plan sponsors are uniquely positioned to step up and take a more active role in managing risk, said Christine van Staden, regional vice-president of group customer and national accounts business development at Canada Life, during Benefits Canada‘s 2023 […]
Vestcor Investment Management Corp., an organization that manages the investment and administration of 11 public sector pension plans in New Brunswick, saw its investment decline 3.63 per cent in 2022. During the year, Vestcor’s assets declined from about $21 billion to $20 billion, according to a press release, which credited the losses to the unusually […]
A typical Canadian defined benefit pension plan’s funded position improved on a solvency basis and decreased on an accounting basis in April as a result of the strong performance of domestic equities and decreases in bond yields, according to a new report by Telus Health. During the month, the solvency of the typical Canadian DB […]
More than half (58 per cent) of U.S. employees say they’re significantly worried about one or more aspects of their personal finances, including saving for retirement and building emergency savings, according to a new survey by John Hancock Financial. In addition, with the market declines across asset classes in 2022, 70 per cent of survey respondents […]
The average Canadian pension plan’s funded ratio reached 120 per cent as of March 31, 2023, up one per cent over the quarter, while the average going-concern solvency ratio was 111 per cent, up four per cent, according to a new report by Normandin Beaudry. The report attributed these increases to the strong performance of financial […]
The Alberta Investment Management Corp. is reporting an annual return of negative 3.4 per cent for 2022, citing declines in public equities and fixed income. The investment organization exceeded its benchmark by 1.8 per cent, with total client assets under management at $158 billion, according to a press release announcing its annual results. Read: AIMCo […]
The median solvency ratio of Canadian defined benefit pension plans rose during the first quarter of 2023, from 113 per cent at the beginning of the year to 116 per cent at the end of March, according to Mercer’s latest pension health pulse. The measure, which tracks the median solvency ratio of the DB plans […]
Defined benefit pension plan sponsors in the U.S. are facing increasing costs when de-risking through annuity buyouts, according to a new report by consulting firm Milliman Inc. It found the estimated cost to transfer risk to an insurer increased in February to 99.7 per cent of a plan’s total liabilities, up from 99.3 per cent […]
After reaching a near 40-year high over the past year, headline inflation started to cool in the final months of 2022 following a series of aggressive interest rate hikes by the Bank of Canada. According to Statistics Canada, the consumer price index was up 6.3 per cent year over year in December, down from a […]
The OPSEU Pension Trust finished 2022 with net assets of $24.642 billion, down 2.2 per cent from the previous year, according to its latest annual results. “The most important thing is the funded status, which is at 100 per cent,” says Peter Lindley, president and chief executive officer of the OPTrust. “I think it’s quite […]