Despite the focus on pension reforms in some provinces, it may be too little, too late, according to one industry expert at the 2008 Pensions Summit. “Too much damage has been done and we may not be able to put the genie back in the bottle,” said Gretchen Van Riesen, CIBC’s former-vice president for global […]
Defined contribution plan member inertia is due to a lack of understanding and a bewildering array of choices, and overcoming that inertia requires a concerted effort on the part of plan sponsors and service providers, according to Standard Life communications consultant Matthew Rotenberg. “We need to look at plan members as the object at rest, […]
A look at the preparedness of Canadian companies regarding the impending shift to International Financial Reporting Standards (IFRS) has revealed a serious lack of planning, according to experts at a Financial Executives International conference in Toronto on Friday. January 1, 2011 is when the current generally accepted accounting principles (GAAP) will be replaced with IFRS […]
After voting in favour of the asset-backed commercial paper (ABCP) market restructuring plan on Friday, retail investors are looking forward to getting their money back, but institutional investors have far less to celebrate. Institutional investors were subdued in their response to Friday’s vote, as they have considerably more to lose. The restructuring plan offers no […]
National drug spending is expected to continue to rise after a 7.1% increase last year, according to John Herbert, director of business development at ESI Canada. Speaking on Tuesday at the annual ESI Canada conference in Mississauga, Ontario, Herbert said 2007 saw a drug spend increase of $44 per claimant to $665, more than double […]
A majority of the global population does not participate in a retirement plan, a challenge which employers and governments will have to address in the years to come, according to a report from State Street. “Even in the United States and the U.K., the world’s two largest occupational pension markets, roughly half of the workforce […]
The Royal York Hotel was the scene of a lively debate Thursday between Sherry Cooper, chief economist of BMO Capital Markets, and Malcolm Hamilton, actuary at Mercer Consulting. Hosted by the Canadian Pension & Benefits Institute, Cooper spoke at length about her new book, The New Retirement. Cooper explained that the impending exodus of boomers […]
Alberta Investment Management Corp. (AIMCo) plans to invest more in private equity, infrastructure assets and hedge funds in an effort to boost returns. “In recent years, returns on traditional interest-bearing investments, such as bonds and money market funds, have fallen,” said AIMCo chairman Charles Baillie, in a speech to the Calgary Chamber of Commerce Thursday. […]
Ontario Securities Commission (OSC) chair David Wilson called for the creation of a common securities regulator in an effort to strengthen Canada’s securities enforcement system and provide better protection to investors and the capital markets. “While not a silver bullet, there is no doubt that a common regulator would improve enforcement in Canada,” he said, […]
Baby boomers on the cusp of retirement have been asked what it will take to keep them in the workforce, and their response is clear. Companies looking to retain older employees will have to sweeten the pot, including flexible hours and shorter workweeks, according to a recent workplace survey from RBC. Conducted by Ipsos Reid,The […]