Other Brieflies this week:| MON | TUE | WED | THU | FRI | The judge in the asset-backed commercial paper (ABCP) saga has delayed a hearing until Tuesday on whether claims of fraud can proceed as part of the market restructuring scheme. Justice Colin Campbell wants to give the lawyers involved time to understand […]
For those who believe that investment contributions during the working years constitute the bulk of retirement income, think again. New research suggests that up to 90% of a retiree’s income is generated by investment returns, 60% of which occurs after retirement, turning conventional retirement wisdom on its head. The report, The Russell 10/30/60 Retirement Rule […]
Sometimes success can be a double-edged sword. Just ask Jim Leech, president and CEO of the Ontario Teachers’ Pension Plan. With $108.5 billion in assets and an average annual return of 11.8% since 1990, Teachers’ is a shining example of what a pension plan should be. There’s just one problem: it has a $12.7 billion […]
Other Brieflies this week:| TUE | WED | THU | FRI | Rising commodity prices, fallout from the subprime mortgage crisis, and the spectre of a U.S. recession combined to hand negative first quarter results to the median corporate, public and foundation/endowment plan, according to a survey. Mercer Consulting’s Summary Performance of U.S. Institutional Portfolios […]
As wages continue to climb, employees are increasingly finding their pensions restricted by the Income Tax Act limits under the registered pension plan. As a result, employers are finding it necessary to offer supplemental pension arrangements not only for their senior executives, but for their middle-management employees as well, according to a survey. Buck Consultants’ […]
The world may be getting smaller, but delivering benefits programs to employees posted in foreign countries is not getting any easier, according to panelists at the CPBI Forum 2008 in Toronto. Wednesday’s session on developing and implementing a pension and benefits program for the global workplace focused on issues of governance, financial reporting, international mobility, […]
The explosion of defined contribution (DC) plan litigation in the United States is likely to continue, but Canada should not expect a similar trend anytime soon, according to legal experts. Mark Zigler, managing partner of Koskie Minsky LLP, said that there are some major impediments to class-action suits in Canada that do not exist in […]
Capital accumulation plan (CAP) members need to learn how to shift from building wealth to preserving wealth and lifestyle, and it’s up to plan sponsors and service providers to help bring about the change, according to an industry expert. The design, communication, and investment strategies of most CAPs focus too much on accumulating assets, said […]
The defined contribution and group RRSP plans currently available to Canadians will provide inadequate retirement income and a comprehensive analysis of the industry is needed, according to a report by the Association of Canadian Pension Management. Becky West, chair of the ACPM issues task force, speaking at a Capital Accumulation Plan seminar on Wednesday in […]
The first quarter of this year was not a good time to be a money manager, as less than 20% of large cap Canadian equity investment managers outperformed the benchmark—their worst showing since 1999. According to the latest Russell Active Manager Report, the number of managers who were able to beat the benchmark is down […]