longevity risk – Benefits Canada.com https://www.benefitscanada.com Canada's most influential pension and benefits publication for decision-makers Thu, 21 Nov 2024 16:14:16 +0000 en-US hourly 1 https://wordpress.org/?v=4.9.8 2024 DC Investment Forum: Addressing inflation risk through DC plan members’ working lives https://www.benefitscanada.com/events/conference-coverage/2024-dc-investment-forum-addressing-inflation-risk-through-dc-plan-members-working-lives/ Wed, 06 Nov 2024 12:52:56 +0000 https://www.benefitscanada.com/?p=162027 The rapid rise in the cost of living in 2022 and into 2023 underscored the need for target-date funds to not just protect against standard inflation, but inflation shocks as well. The problem that presents is the more inflation protection that’s added into a portfolio, the lower the returns, said Nick Nefouse, managing director, global […]

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]]> 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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]]> 2024 CAP Member Survey: How CAPs are supporting employee financial wellness amid growing economic uncertainty https://www.benefitscanada.com/archives_/benefits-canada-archive/2024-cap-member-survey-how-caps-are-supporting-employee-financial-wellness-amid-growing-economic-uncertainty/ Fri, 13 Sep 2024 12:56:03 +0000 https://www.benefitscanada.com/?p=159902 From 2016 to 2024, fewer plan members are confident they’ve saved enough for retirement. Indeed, Benefits Canada’s 2024 CAP Member Survey found plan members’ optimism that their retirement is on track declined to 56 per cent from 63 per cent in 2022, while three-quarters (73 per cent) said they’re worried they won’t have enough saved […]

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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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]]> FSRA’s Pension Awareness Day helping engage, educate employees on benefits of workplace pension plans https://www.benefitscanada.com/pensions/defined-benefit-pensions/fsras-pension-awareness-day-helping-engage-educate-employees-on-benefits-of-workplace-pension-plans/ Wed, 14 Feb 2024 14:00:14 +0000 https://www.benefitscanada.com/?p=151914 For its second annual Pension Awareness Day on Feb. 15, the Financial Services Regulatory Authority of Ontario is holding information sessions for its employees to learn more about their pension plan. Even people who actually have an employer-sponsored pension plan aren’t aware of the value of those benefits, says Andrew Fung, executive vice-president of pensions […]

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]]> Quebec’s amendment to unlocking rule for VBAs, LIFs providing retirees 55+ with financial flexibility: expert https://www.benefitscanada.com/pensions/retirement/quebecs-amendment-to-unlocking-rule-for-vbas-lifs-providing-retirees-55-with-financial-flexibility-expert/ Fri, 09 Feb 2024 14:00:14 +0000 https://www.benefitscanada.com/?p=151714 The Quebec government’s removal of the maximum annual amount that can be paid to people aged 55 and older with a variable benefit account tied to a defined contribution pension plan or with a life income fund is part of a broader push to provide retirees with more flexibility to draw on their locked-in retirement savings […]

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]]> Climate change, pension super-priority law among CIA’s priorities for 2024 https://www.benefitscanada.com/pensions/governance-law/climate-change-pension-super-priority-law-among-cias-priorities-for-2024/ Thu, 25 Jan 2024 14:00:16 +0000 https://www.benefitscanada.com/?p=151103 The impacts of climate change and federal super-priority legislation on Canadian pension plans are among the issues that the Canadian Institute of Actuaries is monitoring in 2024, says Simon Nelson, a principal at Eckler Ltd. and chair of the CIA’s pension practice committee. While climate change is a consideration across all of the CIA’s practice […]

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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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]]> 34% of U.S. women don’t have an employer-sponsored retirement plan: survey https://www.benefitscanada.com/pensions/retirement/34-of-u-s-women-dont-have-an-employer-sponsored-retirement-plan-survey/ Thu, 14 Sep 2023 13:00:07 +0000 https://www.benefitscanada.com/?p=143381 A third (34 per cent) of U.S. women say they don’t have access to an employer-sponsored retirement plan, while a fifth (22 per cent) say they’ve emptied their employer-sponsored retirement account to meet non-retirement expenses, according to a new survey by software company Iralogix Inc. The survey, which polled more than 200 women, found nearly […]

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