Torstar Corp. has entered into an agreement to merge its eight registered defined benefit pension plans with the Colleges of Applied Arts and Technology pension plan. The merger will take effect Oct. 1, 2018, subject to closing conditions and approvals, including the consent of Torstar plan members and the approval of Ontario’s superintendent of financial services. If […]
As part of a comprehensive plan review, the Ontario Municipal Employees Retirement System is looking at a number of changes, including to indexing provisions. While a plan executive is offering a more nuanced version of the issue, the Canadian Union of Public Employees union is sounding the alarm about possible changes. Read: Boosted by public equities, […]
Blue Pier is introducing a new customized, fully outsourced workplace pension plan to encourage all employers to offer retirement savings programs to their employees. The product allows employers to choose the plan design, including defined benefit, defined contribution, target benefit and hybrid options. They then enrol staff and make contributions, while Blue Pier will manage the plan, […]
As lobbying efforts intensify to keep Canadian Nuclear Laboratories’ employees in the public service pension, plans are moving ahead to convert a multi-union, multi-employer plan into a target-benefit arrangement. Collective agreements ratified in September 2015 between the United Steelworkers union and CNL state that employees hired before that date would stay in the public plan until September 2018, […]
Hub International Ltd. has acquired yet another benefits brokerage: Quebec-based Les Avantages Sociaux Delta Inc. Based in the Montreal area, Delta provides support and actuarial services for group insurance and retirement plans, as well as human resources and disability management. With the acquisition, Delta will join Hub’s Quebec business. Delta’s founder and chairman, Roger d’Eschambault, […]
The Ontario Teachers’ Pension Plan has appointed Dale Burgess as senior managing director of infrastructure and natural resources. Burgess has been serving as interim head of infrastructure and natural resources since February and will assume the permanent role immediately. Read: Ontario Teachers’ appoints new Asia-Pacific regional investment head In the new role, Burgess will oversee the […]
The Colleges of Applied Arts and Technology pension plan is looking to launch a new defined benefit pension plan that will be available to workplaces in the broader public, private and not-for-profit sectors across Canada. The new plan, called DBplus, is subject to board approval on May 30. The new plan will have a likely […]
For more than 30 years, Canada’s public sector pension organizations have distinguished themselves by delivering secure, sustainable defined benefit pensions and, in the process, have earned a reputation as global leaders. That wasn’t always the case, so will it continue to be the case in 30 years? Six years ago, The Economist published a report that described how […]
A subsidiary of Great-West Lifeco Inc. has acquired a holding in an Irish company specializing in employee benefits consulting and private wealth management. On Friday, Great-West Lifeco announced the deal involving its subsidiary, Irish Life Group Ltd., and Invesco Ltd. (Ireland). With more than 125 employees, Invesco manages the pension plans of more than 275 […]
When it comes to the difficult issue of equity in pension plans, Quebec has been at the forefront recently with its plan to table a bill to eliminate so-called disparity clauses. The province’s plan, which has significant union support, has drawn the attention of Quebec’s pension industry, particularly since it would affect organizations that have […]