October 2023
27Oct

Canada. Finance ministers to meet on Alberta’s proposal to leave Canada Pension Plan

Finance Minister Chrystia Freeland has agreed to convene a meeting with provincial and territorial finance ministers to discuss Alberta’s proposal to withdraw from the Canada Pension Plan. The agreement comes after Ontario Finance Minister Peter Bethlenfalvy called for the meeting in a letter to Freeland, saying Alberta’s withdrawal could cause “serious harm.” Freeland says any province has the right to leave the program, but it’s important the decision “be based on facts and be clearly and well informed. “It is absolutely my...

October 27, 2023
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16Oct

To counter its aging population, Vermont offers $5,000 for recent graduates to stay on

Vermont has joined the growing list of states hoping to retain young people by paying their student loans. The program, launched this year, will give recent graduates of Vermont colleges up to $5,000 if they stay and work in the state for two years. Lawmakers hope the initiative will keep more young people in Vermont. From The Hechinger Report in Vermont Public, Liam Elder-Connors reports. LIAM ELDER-CONNORS, BYLINE: A couple of months ago, Mohamud Diini was ready to leave Vermont....

October 16, 2023
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02Oct

Chinese stocks pose reputational risk to US, Canadian pension funds amid geopolitical tensions, says Alpine Macro strategist

Chinese stocks are becoming a reputational hazard for US and Canadian pension funds because of geopolitical risks, a strategist said. Money managers are having a hard time convincing their boards to invest in Chinese assets even if they see long-term potential, as they worry about being seen to be aligning with a hostile government, according to Alpine Macro, a Montreal-based research firm. As a result, they are reducing their exposure to the country and use any market rallies as an opportunity to sell, it...

October 2, 2023
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September 2023
22Sep

Alberta presents plan to exit Canada Pension Plan

Today, the Alberta government released a report detailing just how Alberta plans to exit the Canada Pension Plan — which would have ripple effects on all Canadians. The proposal would amount to Alberta removing more than $330 billion — or almost sixty percent — of the Canada Pension Plan’s assets. Since 1966, Canadians have confidently invested their retirement savings in the CPP. More than 650,000 Albertans are CPP beneficiaries, and Canada’s chief actuary reports that the CPP is sustainable for at...

September 22, 2023
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22Sep

Canada pension funds stay committed to India investments amid diplomatic tensions

Amid India-Canada diplomatic tensions, Canadian pension funds have retained their substantial Indian equity holdings, demonstrating a steadfast long-term approach. Market experts believe that Canadian investors continue to show commitment to India, minimising the influence of current tensions on their investments. "Pension funds, known for their long-term investment perspective, typically do not react hastily to such geopolitical events. They maintain a strategic outlook and are likely to wait for developments before making any major adjustments. There's a reasonable expectation that this...

September 22, 2023
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19Sep

Canadian pension funds ignore rapid rise in climate dangers

Canadian pension funds with hundreds of billions in assets are ignoring the threat to their members’ retirement security as the global climate tips into a new and more destructive phase. “There are some pretty ominous concerns that we’re approaching tipping points,” says Patrick DeRochie, senior manager with Shift Action for Pension Wealth and Planet Health, an educational and advocacy organization on Canadian pensions and climate. “Pension funds need to understand that their mandate is impossible to fulfill without a stable climate....

September 19, 2023
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01Sep

Canada’s largest pension fund trims staff as it puts China deals on hold

CPP Investments, Canada's biggest pension fund, has laid off at least five investment professionals at its Hong Kong office as it steps back from deals in China, three people with knowledge of the matter said. Most were on the fund's private equity team and were informed early last month, according to two of the people. The departures have not been previously reported. They added that a managing director who was in charge of the firm's Greater China real estate portfolio had...

September 1, 2023
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August 2023
28Aug

Canada is burning, so why is our national pension fund still heavily into fossil fuels?

By: Patrick DeRochie   Patrick DeRochie is the senior manager of Shift Action for Pension Wealth and Planet Health, a charitable project that tracks the fossil fuel investments and climate policies of Canadian pension funds, and mobilizes pension beneficiaries to engage fund managers on the climate crisis. As Canada experiences a record-shattering summer of deadly extreme weather, it’s worth remembering that our national pension fund has poured much of our retirement savings into the primary cause of the climate crisis: fossil fuels. In...

August 28, 2023
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25Aug

Canada’s Largest Pension Fund Invests in Reforestation Project in the Amazon

Canada Pension Plan Investment Board has joined a project led by Mombak Gestora de Recursos to produce carbon credits through reforestation efforts in Brazil’s Amazon region. The Canadian pension fund will invest up to US$30 million in Mombak’s reforestation fund, which aims to reach a target of US$100 million. The investment reflects a growing demand for carbon removal projects in voluntary carbon markets, as buyers increasingly favor initiatives that actually remove carbon rather than simply avoiding emissions. Mombak plans...

August 25, 2023
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11Aug

Report finds Canadian pension risk transfer market saw $7.8BN in transferred liabilities in 2022

Canada’s pension de-risking market saw a record-breaking year in 2022, with $7.8 billion in transferred liabilities and 155 transactions, according to a new report by Eckler Ltd. Mary Kate Archibald, pension principal at the consultancy, says the increase in the total sum for the year wasn’t a surprise due to the interest rate environment. To stave off rising inflation, the Bank of Canada has hiked interest rates 10 times in a row since March 2022. “When interest rates go up, the...

August 11, 2023
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