Provident10 – Benefits Canada.com

Provident10 revamping IT governance strategy in response to cybersecurity risks

Gideon Scanlon — Thu, 07 Jul 2022 17:36:21 +0000

The administrator of the Newfoundland and Labrador Public Service Pension Plan is planning a revamp of its information technology governance processes to mitigate cybersecurity risks. “The organization understands the importance of technology in enabling modernization of pension administration service delivery,” wrote Provident10 in the PSPP’s 2021 annual report. “Modernization will advance member and stakeholder experiences, as […]

The post Provident10 revamping IT governance strategy in response to cybersecurity risks appeared first on Benefits Canada.com.

Provident10 paints new path on ‘blank canvas’ following pension reform

bwolfe — Fri, 14 May 2021 12:55:34 +0000

A defined benefit pension plan leader rarely gets to work with a “blank canvas,” but Chuck Bruce has taken that unique opportunity and drawn a new way forward for more than 56,000 DB plan members in Newfoundland and Labrador. In late 2014, the province and its five largest unions established Provident10 to administer and oversee […]

The post Provident10 paints new path on ‘blank canvas’ following pension reform appeared first on Benefits Canada.com.

Newfoundland and Labrador addressing $8.18BN unfunded pension, employee benefits liabilities

mdunne — Thu, 13 May 2021 16:00:37 +0000

At the end of March 2020, Newfoundland and Labrador had $4.89 billion in unfunded pension liabilities, including unfunded liability and promissory notes, according to a report released last week by the premier’s economic recovery team. Added to the province’s $3.29 billion in unfunded liability related to employee benefits, this results in financial exposure of $8.18 […]

The post Newfoundland and Labrador addressing $8.18BN unfunded pension, employee benefits liabilities appeared first on Benefits Canada.com.

What will coronavirus mean for pension investors in the long term?

mschmit — Mon, 14 Sep 2020 04:41:57 +0000

Real estate, a long-time stable, returns-generating asset class for pension plans, may no longer be as solid due to the impact of the coronavirus pandemic. “A pretty traditional asset class for pension plans may have been in office and retail, but one of the changes that’s happened is [the move to] remote working,” said Barbara […]

The post What will coronavirus mean for pension investors in the long term? appeared first on Benefits Canada.com.

Getting to know new Provident10 CIO Michel Malo

mschmit — Fri, 01 Nov 2019 04:29:36 +0000

At the beginning of September, Provident10, which oversees the administration and asset management for Newfoundland and Labrador’s Public Service Pension Plan, welcomed a new chief investment officer, Michel Malo. With $6.6 billion in invested assets as of year-end 2018, Provident10 is a fairly new entity. In December 2014, the province’s government and its five largest […]

The post Getting to know new Provident10 CIO Michel Malo appeared first on Benefits Canada.com.