Since the outset of the global financial crisis, institutional investment policy and diversification have come under increased scrutiny in an attempt to protect assets in the event of another downturn. Moving away from equities, liability driven investing and increased alternative investments have all been put forth to that end. So how has investment strategy changed […]
Assets under management by the world’s 500 largest fund managers fell by more than 23% in 2008, a loss of US$16 trillion dollars from the year before, reports Watson Wyatt. According to the Pensions & Investments/Watson Wyatt World 500 ranking, assets under management were calculated at US$53.4 trillion in 2008, down from $69.4 trillion the […]
With the change in season, organizations across North America are experiencing a second wave of the H1N1 flu virus. While there are many aspects of this pandemic for employers to consider, a firm grasp of the fundamentals of H1N1 will guide the pandemic planning process. The facts Even an influenza event with a low percentage […]
Despite the global recession and major decline in financial markets, the Canada Pension Plan is on a solid footing, says the chief actuary of Human Resources and Skills Development Canada (HRSDC). Speaking at the National and International Perspectives on Pension Plans seminar on Sept. 15 in Ottawa, Jean-Claude Ménard explained that the partial funding approach […]
A recent survey conducted by the Office of the Superintendent for Financial Institutions (OSFI) has found the regulator enjoys relatively high status in the minds of federally regulated pension plans. The poll of 247 pension plan administrators (representing 166 defined contribution plans, 60 defined benefit plans, 21 combination plans and 30 professionals) finds that overall […]
A petition has been organized by a former Nortel employee seeking change in Canada’s bankruptcy laws. Melanie Johannink, who was dismissed by Nortel earlier this year without severance pay or continuing healthcare benefits, is calling for changes to the Companies’ Creditors Arrangement Act, (CCAA), the Bankruptcy and Insolvency Act (BIA) and the Investment Canada Act […]
If employers left their employee medical plans static in 2010, they would see costs rise by nearly 9%. However, with more than half of all employers experiencing layoffs over the past year—and almost one-third anticipating future layoffs—doing nothing is not an option for most employers, according to a recent survey. Mercer’s survey of 1,562 U.S. […]
Employers and trustees in the U.K. are heeding the advice of The Pensions Regulator, according to Mercer. The consultant’s annual SFO Valuations Survey of 257 pension plans finds that employers have agreed to stronger technical provisions for funding, while trustees are seeking assets outside the scheme and longer recovery plans to cover any shortfalls. The […]
The Office of the Superintendent of Financial Institutions (OSFI) has issued a draft guideline that sets out disclosure obligations for defined contribution (DC) pension plans. In a letter sent on Sept. 4, 2009 to DC plan administrators, OSFI explains that the guideline is intended to inform the pension industry “of the general principles as well […]
The International Organization of Securities Commissions’ (IOSCO) technical committee has published Unregulated Financial Markets and Products—Final Report, which aims to assist regulators in introducing greater transparency and oversight with respect to securitization and credit default swap markets. Formed in late 2008 in response to calls for a review of the scope of unregulated financial market […]