For the first time since December 2005, investment managers are more bullish than bearish on the broad Canadian market. That, from the Russell Investment Manager Outlook, which also showed that the outlook for EAFE(Europe, Australasia and Far East)equities grew from 36% last quarter to 62% this quarter. “After the fear and tension that pervaded the […]
Federal Finance Minister Jim Flaherty says the proposal to allow surplus money be put back into the Canada Pension Plan, is not going ahead. In an exclusive interview with Benefits Canada, Flaherty was asked about the notion that if money is allowed in to the CPP from the feds, it has the potential to take […]
By 2050, an amended Canada Pension Plan(CPP)would have plan assets $29 billion lower than projected under a previous actuarial report. That assumes there is a 9.9% contribution rate. The report also said expenditures would be $520 million or 0.2% higher than earlier projected, also by 2050. The minimum contribution rate required to financially sustain the […]
RBC Dexia Investor Services and CI Financial Income Fund are extending their outsourcing relationship by another five years. Under the new agreement, which will run until mid-2011, RBC will continue to offer custody, fund accounting and securities lending services to CI Financial and will act for Assante Weatlh Management as the primary custodian for the […]
Ongoing discussions of pension review continue, says Minister of Finance Jim Flaherty, but nothing new is expected. Speaking to a fairly supportive business audience at the Economic Club of Toronto, Flaherty reiterated his economic plan known as “Advantage Canada.” He said he wants to invest in infrastructure and pay down debt to “bring people to […]
The Ontario Teachers’ Pension Plan today announced the purchase of Dynea North America—a resin adhesive and paper overlays producer based in Mississauga, Ont. No purchase price for the deal was announced by the company has annual sales of more than US$550 million. “Given Teachers’ long-term investment philosophy, their purchase of Dynea North America is an […]
Aluminum maker Alcan is refuting a report from Moody’s Investor Services that says it has Canada’s biggest pension shortfall. Moody’s said Alcan’s pension plan is underfunded by about $3.1 billion(US$2.7 billion)but a published report today says Alcan is arguing the validity of those figures. The report quotes Rhodri Harries, vice-president and treasurer with Alcan who […]
It’s common sense that if you buy something, you get a bill for it. But buyers(plan sponsors and members) of defined contribution(DC)plans don’t always see the full bill when they pay for services. For a variety of reasons, full fee disclosure is lacking. It’s something that seems to come up in conversation in the defined […]
BC: How will pensions and benefits change with the West experiencing a labour crunch? AB: I remember a few years ago people were talking about “attracting and retaining” employees but I would spin them around and say it’s now more about “retention and attraction.” Companies in Western Canada, primarily in the resource-base industry are growing […]
It’s not too far-fetched to assume that if one sees a problem coming, one would try to avoid it by making a change or taking an offensive stance. But that doesn’t appear to be the case for plan sponsors. A new report from the Ottawa-based Conference Board of Canada shows that Canadian plan sponsors admittedly […]