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By Minister of Justice A valuation report filed pursuant to this section shall be prepared in a manner consistent with the guides and Recommendations for the preparation of an actuarial report in connection with a pension plan, published by the Canadian Institute of Actuaries, and shall include such additional information as the Minister may from time to time require. Read book “here”
The concept of employee benefits was established on a foundation built decades ago, when employees worked full time and long term with one employer. Those days are long gone. Temporary, part-time and gig work have become the norm, accounting for 60 per cent of job growth in advanced economies since the 1990s. Gig work is popular in sectors such as the arts, entertainment and recreation and it’s also more prevalent among immigrants than workers born in Canada. In 2016, 10.8 per...
Planning and saving for retirement is too hard for most Canadians. Seventy percent of Canadians are worried they aren’t saving enough for retirement, and 62% are concerned they will outlive their retirement savings. Unlike in our working years when the goal is to accumulate funds to maintain a quality standard of living in retirement, the later phases of life when those savings are steadily drawn down can expose overlooked risks and misconceptions about budgeting in retirement. Part of the challenge is that...
The health of Canadian defined benefit pension plans continued to improve in the second quarter of 2023, according to consulting firm Mercer. The company said the median solvency ratio of defined benefit plans in its database ticked upward to 119% at the end of June, meaning more than half had a surplus of funds. That’s despite the U.S. debt ceiling scare and the lingering effects of the banking crises south of the border, Mercer said. Pension funds’ investment returns were mostly positive...
The U.S. Treasury has partnered with Canadian pension fund CDPQ, asset managers Natixis Investment Managers and Ninety One, the Rockefeller Foundation and others to accelerate pension fund and other institutional investment in emerging and developing countries over the next three years. In particular, the new partnership will focus on investing in energy transition and sustainable infrastructure, and will be led by the Investor Leadership Network, according to a statement from U.S. Treasury Secretary Janet Yellen. "Today, we are proud to announce...
Canada's second-largest pension fund Caisse de dépôt et placement du Québec (CDPQ) has stopped making private deals in China and will close its Shanghai office later this year, the Financial Times reported on Thursday, citing people familiar with the matter. CDPQ is currently leading its regional investment efforts from Singapore, the report said, adding that it still has business interests in China. "We paused private investments for some time already — and have focused on liquid markets, which is the majority...
Investments in China by Canada's largest public pension funds are facing increased scrutiny amid worsening relations between the two countries and allegations that some of those investments are funding the oppression of China's Uyghur minority. Recently, representatives of the Ontario Teachers' Pension Plan and the British Columbia Investment Management Corporation, which manages the pensions of B.C. public sector workers, told a parliamentary committee studying Canada-China relations that they had paused new direct investment in China because of the increasing risks...
British Columbia's public pension manager has paused direct investments in China, the latest institutional investor to rethink its exposure to the world's second-largest economy due to geopolitical risks. A senior executive from British Columbia Investment Management revealed the policy during testimony this week to a Canadian parliamentary committee. Ontario Teachers' Pension Plan has made a similar move, suspending new investments in private assets in China, Bloomberg reported in January. BCI still has Chinese investments, mostly through public markets and index funds,...
According to the Financial Times, Canada’s largest single-profession pension plan has learned its lesson after investing in crypto exchange FTX and will not be making any hasty decisions regarding future cryptocurrency investments. After losing $95 million in a now-defunct crypto exchange, the Ontario Teachers’ Pension Plan is no longer bullish on cryptocurrency investments. Several prominent funds invested in FTX between 2021 and 2022, just before the exchange’s eventual demise. Pension Plan No Longer Bullish On Crypto According to chief executive Jo Taylor,...
Canada's national government said federally regulated pension funds in the country will need to disclose their crypto assets exposure to the Office of the Superintendent of Financial Institutions (OSFI), as Ottawa tightens its regulatory oversight on the volatile industry. "To help protect Canadians’ retirements, Budget 2023 announces that the government will require federally regulated pension funds to disclose their crypto-asset exposures to OSFI," the government said in the new 2023 budget plan. The federal government will also work with provinces...
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