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Caisse investing in Quebec asset management development organization, OMERS completing U$1 BN term note issuance

The Caisse de dépôt et placement du Québec is issuing $250 million to an organization that supports the institutional investment manager ecosystem in Quebec. The investment in the Quebec Emerging Managers Program works out to works out to $50 million each year for the next five years. Created in 2016, the program offers institutional investors access […]

  • April 25, 2023 April 24, 2023
  • 12:30

Canadian pension plans’ average funded ratio reaches 120% in first quarter: report

The average Canadian pension plan’s funded ratio reached 120 per cent as of March 31, 2023, up one per cent over the quarter, while the average going-concern solvency ratio was 111 per cent, up four per cent, according to a new report by Normandin Beaudry. The report attributed these increases to the strong performance of financial […]

  • April 24, 2023 April 21, 2023
  • 15:00

Survey finds half of U.S. workers want an employer-sponsored retirement plan that offers emergency savings features

More than half (54 per cent) of employees without a workplace retirement savings plan — including 77 per cent of millennials — say they’d participate in an employer-sponsored plan if it offered emergency savings features, according to a new survey by Natixis Investment Managers. The survey, which polled more than 700 U.S. employees, also found nearly three-quarters […]

  • April 24, 2023 April 21, 2023
  • 09:00

Alcoa entering $315 million annuity transfer for Canadian DB pensions

Alcoa Corp. is de-risking roughly $315 million (US$235 million) in Canadian defined benefit pension obligations and assets with an annuity transfer. The group annuity contracts will be executed by Industrial Alliance Insurance and Financial Services Inc., which will assume payments for roughly 500 participants in September, according to a press release. Read: Alcoa entering $1BN […]

  • April 20, 2023 April 27, 2023
  • 09:00

Mandatory RRIF drawdowns negatively impacting retirement savings: report

The rules governing registered retirement income funds and similar retirement vehicles are stuck in the past and need revamping or removal, according to a new report by the C.D. Howe Institute. With the current rules, the purchasing power of minimum RRIF withdrawals could fall to half their initial value by the time a retiree reaches […]

  • April 18, 2023 April 17, 2023
  • 09:00

Top 5 HR, benefits, pension and investment stories of the week

An article on why a higher salary is the No. 1 reason employees are searching for a new job was the most-read story on BenefitsCanada.com over the last week. Here are the five most popular news stories of the week: 1. 40% of Canadian workers say they aren’t fairly paid: survey 2. 45% of Canadian autistic employees feel […]

  • April 14, 2023 April 14, 2023
  • 09:00

Survey finds U.S. pension plan sponsors increasingly interested in keeping retiree assets in plan

More than 54 per cent of 401(k) plan sponsors say they prefer to keep their retired members’ assets in their plan, a notable increase from 26 per cent in 2019, according to a new survey by Cerulli Associates. Looking specifically at pension plans intermediated by institutional investment consultants, 35 per cent of respondents said they […]

  • April 13, 2023 April 12, 2023
  • 09:00

ACPM advising FSRA to take best practices approach to IT risk management

The Association of Canadian Pension Management is urging the Financial Services Regulatory Authority of Ontario to apply a best practices approach for the pension sector in its information technology risk management guidance. In an open letter to the FSRA, the ACPM said a real-time reporting framework for material IT risk incidents could result in a […]

  • April 5, 2023 April 5, 2023
  • 15:00

OMERS appointing Ashish Goyal executive VP, head of Asia-Pacific

The Ontario Municipal Employees’ Retirement System is appointing Ashish Goyal as executive vice-president and head of Asia-Pacific. In the new role, he’ll oversee investments across various asset classes in the Asia-Pacific region, reporting to Ralph Berg, the OMERS’ chief investment officer. He’ll continue to operate out of the pension fund’s Singapore office but will also […]

  • April 4, 2023 April 4, 2023
  • 12:30

43% of employees concerned about their financial future: survey

Two in five (43 per cent) Canadian employees say they’re concerned about their financial future, according to Telus Health’s latest mental-health index. Nearly half (45 per cent) of respondents said they feel overwhelmed by debt, with this group reporting the lowest mental-health (53.4) and financial well-being (48.1) scores. Indeed, the report found Canadians’ mental-health score […]

  • April 3, 2023 April 3, 2023
  • 09:00