The Public Sector Pension Investment Board and Overlord Financial have agreed to buy Thunder Energy Trust for more than $202 million. Overlord will manage the assets and own approximately 2% of the Calgary-based oil and gas income trust. This is the second deal in as two weeks that the PSPIB is involved in. , it […]
The financial health of federally regulated private pension plans has improved, according to new solvency ratio estimates released by the Office of the Superintendent of Financial Institutions. The average solvency ration of defined benefit(DB)plans was 1.06 at December 2006, meaning the total value of assets of all plans was 6% higher than liabilities, calculated on […]
Despite the fact that Canadians want to put family first, a survey suggests many are beginning to question whether balance is possible. Although 81% of Canadians want to achieve work-life equilibrium, only 27% of respondents are convinced that work-life balance is attainable in our society. And only 17% strongly believe our society supports its workers […]
Barclays PLC has reached a deal to acquire ABN AMRO for $102.1 billion, which will create the world’s largest institutional asset manager. The combined company will be called Barclays PLC. “Barclays Global Investors’ world leading index-based, exchange traded fund and quantitative active capabilities will be complemented by ABN AMRO’s active fundamental based capabilities,” the companies […]
Three additional pension funds are ready to support the Canadian-led consortium’s bid for BCE, according to a report. The Globe and Mail reports that the Ontario Municipal Employees Retirement Board, B.C. Investment Management Corp. and Alberta Investment Management have expressed interest in joining the consortium that is in discussions to buy the telecom firm. , […]
Canadian pension funds achieved returns more in line with long-term expectations for the first quarter of the year. According to Mercer Investment Consulting’s Pooled Fund Survey, the Canadian pooled balanced pension fund median return was 1.7% for the quarter. “Most pension plans in Canada would have seen little change by the end of the quarter […]
The Nova Scotia government has adopted legislation that will eliminate mandatory retirement while Newfoundland and Labrador has issued a reminder that similar changes will come into effect in May, says a Mercer Communiqué. Nova Scotia Bill 163 does not prohibit age-based distinctions in “good faith” pension plans, or group or employee insurance plans. However, it […]
The current partial-funding model of the Canada Pension Plan is robust and appropriate for the purpose of contributing to the long-term financial sustainability of the plan, says an actuarial study published by the Office of the Chief Actuary of Canada. “The current financing methodology helps to ensure that the CPP is affordable and sustainable for […]
The buyout unit of the Ontario Municipal Employees Retirement System, OMERS Capital Partners, might team up with the Ontario Teachers’ Pension Plan in its potential bid for BCE, according to a report. Chief Executive Officer Paul Renaud tells Bloomberg News that OMERS Capital Partners has had discussions and is interested in taking part in an […]
Strong equity markets helped Canadian pension funds maintained their positive momentum during the first quarter, says a report. According to RBC Dexia, pension funds earned 1.8% in Q1. “On the heels of two very strong back-to-back quarters, this is a fairly respectable start to the new year,” says the company’s director of advisory services, Don […]