longevity risk pooling – 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 2024 Risk Management Conference: Panel: Expanding access to DB pension plans best way to maintain sustainability https://www.benefitscanada.com/canadian-investment-review/post-event-coverage/2024-risk-management-conference-panel-expanding-access-to-db-pension-plans-best-way-to-maintain-sustainability/ Mon, 21 Oct 2024 11:50:28 +0000 https://www.benefitscanada.com/?p=160697 Longevity risk is still among the top concerns keeping defined benefit pension plan sponsors up at night. While a 62-year-old person that retired in 2002 had a life expectancy of 21.4 years, that has now increased to 26.2 years, said Darwin Bozek, president and chief executive officer of the Ontario Pension Board, during a panel discussion at […]

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]]> PIAC asking B.C. to refrain from limiting entities that can offer variable life benefits https://www.benefitscanada.com/pensions/governance-law/piac-asking-bc-to-refrain-from-limiting-entities-that-can-offer-variable-life-benefits/ Wed, 24 Jan 2024 14:00:03 +0000 https://www.benefitscanada.com/?p=151019 The Pension Investments Association of Canada is calling on the British Columbia government to refrain from setting limits on the type of entities that can offer variable life benefits. In an open letter, the association said a competitive landscape that includes a broad scope of service providers, including registered pension plans, would be beneficial for retirees, noting […]

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]]> 2023 DC Investment Forum: How longevity risk pooling can help DC plan members meet their retirement income needs https://www.benefitscanada.com/events/conference-coverage/2023-dc-investment-forum-how-longevity-risk-pooling-can-help-dc-plan-members-meet-their-retirement-income-needs/ Mon, 06 Nov 2023 12:55:57 +0000 https://www.benefitscanada.com/?p=146062 Larry, a hypothetical defined contribution plan member, is facing a difficult calculus as he prepares to retire. Between his personal and DC plan savings, he’s accumulated $620,000 in savings for his retirement and is also expecting roughly $1,000 a month from the Canada Pension Plan and $650 in old-age security benefits. He has to determine […]

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]]> 2023 Risk Management Conference: Super-priority bill fallout presenting DB plan sponsors with opportunities to embrace more innovative plans https://www.benefitscanada.com/canadian-investment-review/post-event-coverage/2023-risk-management-conference-super-priority-bill-fallout-presenting-db-plan-sponsors-with-opportunities-to-embrace-more-innovative-plans/ Wed, 18 Oct 2023 11:53:05 +0000 https://www.benefitscanada.com/?p=144301 Defined benefit pension plan sponsors that are considering winding up their plans or converting them to another framework following the federal government’s super-priority bill have more innovative options, according to Mitch Frazer, managing partner at Mintz LLP, during the Canadian Investment Review’s 2023 Risk Management Conference. Although Bill C-228, which received royal assent at the end […]

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]]> Changes to tax rules can improve Canadians’ retirement security: report https://www.benefitscanada.com/pensions/governance-law/changes-to-tax-rules-can-improve-canadians-retirement-security-report/ Fri, 23 Jun 2023 13:00:17 +0000 https://www.benefitscanada.com/?p=140231 Changes to tax rules can improve Canadians’ retirement security and make the retirement system more equitable, according to a new report by the C.D. Howe Institute. The report argued in favour of key changes to the accumulation phase, such as more equitable tax-deferred registered wealth accumulation limits, changes to the tax recognition of administrative expenses […]

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]]> 2023 DC Plan Summit: Mitigating longevity risk key to ensuring income for life for DC plan members https://www.benefitscanada.com/events/conference-coverage/2023-dc-plan-summit-mitigating-longevity-risk-key-to-ensuring-income-for-life-for-dc-plan-members/ Fri, 12 May 2023 12:43:04 +0000 https://www.benefitscanada.com/?p=137370 Mitigating longevity risk is key to solving the decumulation challenge, said Pat Leo, Purpose Investments Inc.’s vice-president of longevity retirement solutions, during a session at Benefits Canada‘s 2023 DC Plan Summit. Referring to a recent survey, he noted defined contribution pension plan members were most concerned about market and sequence risks, while underestimating the impact of longevity risk. […]

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