pension risk transfer – 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 DB pension plan sponsors facing “bottleneck” in annuities market: expert https://www.benefitscanada.com/pensions/defined-benefit-pensions/db-pension-plan-sponsors-facing-bottleneck-in-annuities-market-expert/ Thu, 21 Nov 2024 16:00:30 +0000 https://www.benefitscanada.com/?p=163056 Increased deal-making in the Canadian annuities market is adding pressure to defined benefit plan sponsors seeking to de-risk their plans, says Jason Vary, president of Actuarial Solutions Inc. “[The market is] getting worse,” he says. “This year, I’ve had some experiences where we’re placing some small annuities, under $5 million, and we really struggled to […]

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]]> Canadian pension risk transfer sales decrease to $2.1BN in Q3 2024: report https://www.benefitscanada.com/pensions/defined-benefit-pensions/canadian-pension-risk-transfer-sales-decrease-to-2-1bn-in-q3-2024-report/ Thu, 07 Nov 2024 16:00:54 +0000 https://www.benefitscanada.com/?p=162223 The market volume of annuity purchases by Canadian defined benefit pension plan sponsors reached an estimated $2.1 billion in the third quarter of 2024, a small decline from $2.5 billion in the previous quarter, according to a new report by Telus Health. It noted some insurers are showing a strong appetite and offer competitive pricing […]

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]]> Top 5 HR, benefits, pension and investment stories of the week https://www.benefitscanada.com/archives_/benefits-canada-archive/top-5-hr-benefits-pension-and-investment-stories-of-the-week-100/ Fri, 20 Sep 2024 13:00:53 +0000 https://www.benefitscanada.com/?p=160333 An article on International Business Machines Corp.’s latest pension risk transfer was the most-read story on BenefitsCanada.com this past week. Here are the top five human resources, benefits, pension and investment stories of the last week: 1. IBM transferring US$6 billion in pension liabilities via group annuity buyout 2. How employers can encourage employees to take guilt-free sick days […]

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]]> IBM transferring US$6 billion in pension liabilities via group annuity buyout https://www.benefitscanada.com/pensions/defined-benefit-pensions/ibm-transferring-us6-billion-in-pension-liabilities-via-group-annuity-buyout/ Fri, 13 Sep 2024 19:00:27 +0000 https://www.benefitscanada.com/?p=160172 International Business Machines Corp. is transferring roughly US$6 billion in defined benefit pension obligations through a group annuity buyout. Prudential Financial Inc. will assume responsibility for making retirement benefit payments to roughly 32,000 retirees and their beneficiaries beginning Jan. 1, 2025. Read: IBM entering US$16BN pension risk transfer The transaction marks the second pension risk […]

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]]> Bristol-Myers Squibb sued for US$2BN pension risk transfer deal https://www.benefitscanada.com/pensions/defined-benefit-pensions/bristol-myers-sued-for-2bn-pension-annuity-transfer-deal/ Thu, 12 Sep 2024 15:00:45 +0000 https://www.benefitscanada.com/?p=159968 Bristol-Myers Squibb Co. is being targeted in a lawsuit over a US$2 billion pension risk transfer deal completed in 2019 with Athene Annuity and Life Co. The class action lawsuit, filed by former employee Charles Doherty and which names independent consultant State Street Global Advisors Trust Co. as a defendant, argues the pharmaceutical company is […]

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]]> Canadian pension risk transfer sales increase to $2.5BN in Q2 2024: report https://www.benefitscanada.com/pensions/defined-benefit-pensions/canada-pension-risk-transfer-sales-increase-to-2-5bn-in-q2-2024-reports/ Thu, 05 Sep 2024 13:00:21 +0000 https://www.benefitscanada.com/?p=159696 The market volume of annuity purchases by Canadian defined benefit pension plan sponsors reached an estimated $2.5 billion in the second quarter of 2024, compared to $1.1 billion in the previous quarter, according to a new report by Telus Health. While plan sponsors that are poised for upcoming transactions have an advantageous position, insurers are […]

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]]> U.S. pension risk transfer sales premium increased 130% in Q1 2024: report https://www.benefitscanada.com/pensions/defined-benefit-pensions/u-s-pension-risk-transfer-sales-premium-increased-130-in-q1-2024-report/ Tue, 18 Jun 2024 19:00:53 +0000 https://www.benefitscanada.com/?p=157083 U.S. pension risk transfer sales reached US$14.6 billion in the first quarter of 2024, a 130 per cent increase from the same period in 2023, according to a report by LIMRA. Single-premium buy-out sales totalled $14.2 billion in the first quarter, up 124 per cent from this period in 2023. There were 146 contracts sold […]

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]]> Competitive pension risk transfer costs increase from 100.3% to 100.9% in April: report https://www.benefitscanada.com/canadian-investment-review/db-investments/competitive-pension-risk-transfer-costs-increase-from-100-3-to-100-9-in-april-report/ Tue, 28 May 2024 13:00:36 +0000 https://www.benefitscanada.com/?p=156100 The estimated cost to transfer retiree pension risk to an insurer in a competitive bidding process increased from 100.3 per cent of a plan’s accounting liabilities in March to 100.9 per cent in April, according to Milliman Inc.’s latest pension buyout index. The index uses the FTSE above median AA curve and annuity purchase composite […]

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]]> U.S. pension risk transfer sales premium increased 53% in Q4 2023: report https://www.benefitscanada.com/pensions/defined-benefit-pensions/u-s-pension-risk-transfer-sales-premium-increased-53-in-q4-2023-report/ Fri, 05 Apr 2024 13:00:37 +0000 https://www.benefitscanada.com/?p=153928 The total premium of U.S. pension risk transfer sales reached US$12.7 billion in the fourth quarter of 2023, a 53 per cent increase from the same period in 2022, according to a report by LIMRA. It found that pension risk transfer sales totalled $45.8 billion in 2023, down 13 per cent from 2022. There were […]

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]]> Median solvency ratio of Canadian DB pension plans up 2% in Q1 2024: reports https://www.benefitscanada.com/pensions/defined-benefit-pensions/median-solvency-ratio-of-canadian-db-pension-plans-up-2-in-q1-2024-reports/ Thu, 04 Apr 2024 19:00:37 +0000 https://www.benefitscanada.com/?p=153937 The median solvency ratio of Canadian defined benefit pension plans increased two per cent in the first quarter of 2024, according to a report by Mercer. The report, which tracks more than 450 DB pension plans, found the median solvency ratio grew to 118 per cent, as at March 29, 2024, from 116 per cent […]

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