While some of the recommendations put forward in the Ontario Expert Commission on Pensions report were well received by the industry, whether or not the province will institute those changes quickly is another matter. “They’re talking about putting in new regulatory structure,” says Kevin Sorhaitz, a principal and consulting actuary with Buck Consultants in Toronto. […]
Neil Petroff has been appointed to succeed Robert Bertram as executive vice-president, investments and chief investment officer at the Ontario Teachers’ Pension Plan. Petroff, currently the pension fund’s group senior vice-president, investments, will take over Bertram’s job at the beginning of 2009. Bertram plans to retire at the end of the year. The official announcement […]
Two years after the Ontario Expert Commission on Pensions was created, its 222-page report—along with 142 recommendations—was released to the public on Thursday. The report, entitled A Fine Balance: Safe Pensions, Affordable Plans, Fair Rules, has numerous recommendations to reform and reinvigorate the province’s pension system, according to the OECP chair, Harry Arthurs. Some of […]
The long-awaited report from the Ontario Expert Commission on Pensions (OECP) will be released on Nov. 20. Harry Arthurs, the chair of the commission will conduct a briefing that morning in Toronto. The Government of Ontario set up the OECP more than two years ago in order to review pension law for the first time […]
The Supreme Court of Canada has heard the appeal in the Elaine Nolan et al. v. Kerry (Canada) Inc. et al. case. Last year, plaintiffs representing certain and former members of the company pension plan sought permission to appeal to the Supreme Court. They wanted the SCC to overturn the Ontario Court of Appeal’s June […]
The war for talent can be hard fought and full of many challenges, but using pensions and benefits as a means to attract potential employees can help win the battle. “Getting it right helps with reducing turnover and ultimately saves costs related to having productive employees versus going through the hiring cycle again,” said Kevin […]
The Caisse de dépôt et placement du Québec plans to adjust its investment strategy to cope with the global credit crisis whose scope and effects are still uncertain. “This uncertainty has prompted the Caisse to manage with strategies that emphasize caution, preservation of capital and risk reduction,” says Richard Guay, the pension fund’s president and […]
As the defined contribution (DC) plan becomes the central savings vehicle around the world, one industry expert says plan sponsors need to choose the right target date fund (TDF) to prevent their employees from running out of money. “If properly designed, given all the behavioural vices that we know individual investors and employees exhibit, it […]
Choosing the perfect default fund for a defined contribution plan isn’t easy, but a roundtable discussion at the DC Investment Forum in Toronto provided a number of recommendations for plan sponsors. “I think having target date funds, not only as the default fund, but as the only option in plans, is optimum,” said Carol Geremia, […]
According to Stephen Lingard, vice-president and portfolio manager of Franklin Templeton Managed Investment Solutions, there are three things that plan sponsors need to consider before choosing a target date fund (TDF): diversification, risk management and portfolio construction. “Having a multitude of diversification options is critical in building well diversified, robust portfolios,” he said at the […]