Nova Scotia’s pension funds operate in a “patchwork” regulatory environment that stifles the creation of new defined benefit (DB) plans, according to the Nova Scotia Pension Review Panel. In order to alleviate an increasingly difficult situation for the province’s plan sponsors and plan members, new legislation is required. The Nova Scotia Pension Review Panel’s report, […]
In 2004, Canada’s provincial and federal governments created the National Pharmaceutical Strategy (NPS) in an effort to make prescription drugs accessible and affordable for all Canadians. Five years later, the NPS is at a standstill, says the Health Council of Canada, and only a renewed spirit of co-operation can get it back on track. A […]
In addition to the myriad crises witnessed over the past 13 months, 2008 now has the dubious distinction of being the worst year on record for Canadian pension plans, as assets dropped 7% in the fourth quarter alone, according to RBC Dexia Investor Services. The Q4 fall added the finishing touch to a 15.9% decline […]
With all the negative press on Canada’s economic situation, it’s not a stretch of the imagination to assume that most firms are taking a hard look at staff reductions. Layoffs have recently been announced at many blue-chip organizations, and more are likely to occur before we emerge from this recession. Surprising, then, to learn that […]
As pension plans become the latest casualty of the global financial crisis, provincial governments have announced measures to provide solvency funding relief for defined benefit (DB) plans. A recent report by Morneau Sobeco outlines the recent changes and their affect on Canada’s pension landscape. Funding Relief According to Morneau’s News and Views report, the Ontario, […]
While risk management, asset allocation and impending regulatory changes were on the agenda at the CPBI Ontario Region’s 4th Annual Pension Investment Forecast on Wednesday at the Fairmont Royal York, in the end it all came down to a Black Swan. Qualifying his remarks by explaining that so-called “Black Swan” events are rare events beyond […]
Market volatility creates both challenges and opportunities for plan sponsors, money managers and custodians. The bad news dominating international media over the past few months paints a picture of an institutional investment marketplace under siege. The domino effect of the subprime mortgage disaster, the credit crunch and the global financial crisis have pounded securities markets […]
OECP Report Underwhelms For defined benefit (DB ) plan sponsors looking for relief from the financial and legal issues that have made DB plans problematic, the report by the Ontario Expert Commission on Pensions, released on Nov. 20, was of little help. “The report does not adequately address the need to create a regulatory environment […]
The collapse of Lehman Brothers heralded an unprecedented focus on securities lending after the practice of short selling was blamed for accelerating the bank’s demise. Four months later, securities lending is still a hot topic as many organizations question whether or not the income generated by lending is worth the risk. To address some of […]
Recovering equity markets and rising interest rates combined to nudge the overall health of pension plans upward this past quarter, according to Mercer. The Mercer Pension Health Index—which shows the ratio of assets to liabilities for a model pension plan—increased to 74%, up 1% from the beginning of the fourth quarter and 15% from the […]