Many plan sponsors may be too small to adequately manage the risks and costs of sponsoring a defined benefit plan, but risks can be mitigated by forming multi-employer pension plans(MEPPs), said Bank of Canada Governor David Dodge. “If structures such as large multi-employer pension plans could be created, this could help them to pool both […]
Having many options to choose from can be a good thing but for capital accumulation plan members, being able to choose from a wide variety of investment options can be a bad thing. “Too much investor choice leads to investor overload,” said Nadia Savva, an account executive for Manulife’s group savings and retirement solutions division, […]
The British Columbia government plans to eliminate mandatory retirement next year, according to a Mercer Communiqué. Unlike Ontario, where the legislation took effect one year after receiving royal assent, B.C.’s Bill 31 proposes a January 1, 2008 effective date. “If the bill is approved by the legislature in its current form, the transition time provided […]
The Ontario Expert Commission on Pensions(OECP)has scheduled public hearings in six cities to be held in the fall. The tentative schedule is as follows: • October 17-19: Toronto • October 31: Kingston • November 1: Ottawa • November 6: Sudbury • November 7: Thunder Bay • November 13: Hamilton • November 14: London • November […]
Guardian Capital Group has chosen RBC Dexia for the provision of custody, recordkeeping, fund administration and securities lending for its portfolio of pooled funds and corporate securities. Last week, RBC Dexia was chosen for a similar deal by Claymore Investments. “Guardian was looking for a service provider that could accommodate our diverse business requirements and […]
Employers should invest in policies, education programs and a culture that supports employees’ mental health, according to the Canadian Mental Health Association. “Businesses are beginning to recognize that this issue has economic implications,” says Glenn Thompson, CEO of CMHA, National. Mental illness costs Canadian companies $14 billion each year, according to the Global Business and […]
Alberta’s government plans to undertake a few pension reviews this year, according to a Mercer Communiqué. The country’s fourth-largest province, in terms of population, will perform a thorough review of the Employment Pension Plans Act and look at options for creating an Alberta Pension Plan. It will also review ways of addressing the unfunded liability […]
Connor, Clark & Lunn Investment Management has launched three investment strategies for Canadian institutional investors. The CC&L Canadian Q 120/20 and CC&L North American Q 130/30 are managed using quantitative investment strategies, while the CC&L Canadian GARP 120/20 strategy uses the growth-at-a-reasonable-price approach. Offered to investors through institutional pooled funds, the objective of each portfolio […]
Michelin told the Nova Scotia Supreme Court yesterday that the way it handled its pension plan surpluses was “prudent and defensible.” A group of the company’s pensioners is suing the company over $268 million it says is owed to the plan. Michelin claims the contribution holidays were necessary to keep the fund from growing larger […]
Barclays PLC’s planned $102.1 billion takeover of ABN AMRO is now in limbo following a court decision that blocked the sale of LaSalle Bank to the second-largest financial institution in the United States. The takeover agreement by Barclays, which would create the world’s largest institutional asset manager, was dependent on the sale of ABN unit […]