Manitoba Premier Brian Pallister is calling for a merger of the management services for the province’s public-sector pensions. Pallister says he’s not suggesting the funds themselves merge — only that they be managed as a group. A much larger pool of funds would be subject to lower management fees, he says, which could save roughly $200 million […]
The United Way Greater Toronto is the latest organization to join the Colleges of Applied Arts and Technology’s DBplus plan. Following a 90-day consent process, an overwhelming majority (99 per cent) of the 350 members of the organization’s defined benefit pension plan voted in favour of the move. Employees will begin contributing to and earning a pension under […]
Rayonier Advanced Materials is transferring a portion of its Canadian defined benefit plan obligations with a $293-million annuity buyout. Through the transaction, Sun Life will take over the responsibility for pension benefits owed to nearly 1,500 Ontario and Quebec pensioners and beneficiaries. The plan members include former employees of forestry company Tembec, which was acquired […]
The City of Toronto’s director of pensions, payroll and employee benefits discusses pension changes, data technology and being a soccer dad. Q. What top challenges do you face in your role? A. We’re going through a large transformation in the division and that impacts a lot of areas, so basically looking at the programs, the […]
Western Forest Products Inc. says negotiations with the United Steelworkers union representing workers in a long-running coastal B.C. strike ended without resolution on the weekend. The company says no active negotiations are occurring and no future mediation dates have been scheduled after 14 hours of bargaining occurred on Saturday and Sunday supervised by two independent […]
The former chief executive officer of the organization that would administer a separate Alberta pension plan says the proposed switch from the Canada Pension Plan doesn’t make much sense from an efficiency point of view. Leo de Bever, who retired from the Alberta Investment Management Corp. in 2015, says the threatened move by the Alberta government […]
Defined contribution plan sponsors have a tough job. “Every day that goes by, DC is getting harder and harder to solve for,” said Lorie Latham, senior defined contribution strategist at T. Rowe Price during a session at Benefits Canada’s 2019 Defined Contribution Investment Forum in Toronto on Sept. 27. Looking to lessons learned in the […]
The merger of Torstar Corp.’s defined benefit pension plans into the Colleges of Applied Arts and Technology pension plan’s DBPlus has crossed the first hurdle with the Financial Services Regulatory Authority of Ontario. The FRSA has issued notices of an intended decision for the merger. By issuing these notices, it’s indicating an intention to consent to the plan mergers […]
The Alberta Teachers’ Retirement Fund Board will transfer all of its funds to the Alberta Investment Management Corp., according to the province’s latest budget. The ATRF board, which administers pensions for all teachers in Alberta school jurisdictions and charter schools, said in a press release it was only made aware of the change when the budget was released […]
Twenty years ago, Jim Keohane was brought into the Healthcare of Ontario Pension Plan to launch its derivatives program. Since then, he’s climbed his way to the role of president and chief investment officer, grown his reputation as a trailblazer in liability-driven investing and navigated the pension fund through the financial crisis with positive returns. […]