annuity – Benefits Canada.com

Dynamic pension pools a viable decumulation option for Canadians: report

bwolfe — Tue, 16 Nov 2021 14:00:45 +0000

With 10 million Canadian baby boomers entering retirement, dynamic pension pools could help seniors turn their accumulated savings into low-cost lifetime pension income, according to a new report by Ryerson University’s National Institute on Ageing and the Global Risk Institute. According to the report, dynamic pension pools can help Canadians optimize their expected lifetime retirement […]

The post Dynamic pension pools a viable decumulation option for Canadians: report appeared first on Benefits Canada.com.

Helping employees understand the benefits of delaying CPP/QPP

bwolfe — Fri, 15 Oct 2021 12:54:56 +0000

The old adage “good things come to those who wait” is especially true of Canada and Quebec Pension Plan benefits. A $1,000 monthly CPP/QPP benefit in today’s dollars at age 60 increases to $1,112.50 if the individual delays until age 61 and to $2,218.75 if they wait until age 70, equivalent to more than $100,000 […]

The post Helping employees understand the benefits of delaying CPP/QPP appeared first on Benefits Canada.com.

Liberals unlikely to pursue super-priority for pension plan members: expert

bwolfe — Fri, 24 Sep 2021 13:00:40 +0000

While a re-elected Liberal government may introduce some measures to protect private pension plan members, it’s unlikely to pursue super-priority similar to what was proposed by the Conservative Party and the New Democratic Party on the federal election trail, according to a pension lawyer. “I think that there may be some measures to address the […]

The post Liberals unlikely to pursue super-priority for pension plan members: expert appeared first on Benefits Canada.com.

Ontario Medical Association introducing new pension annuity offering

bwolfe — Mon, 16 Aug 2021 13:00:21 +0000

The Ontario Medical Association is helping its members save for retirement with a new guaranteed lifetime income annuity. Kayte Fredrickson, vice-president of insurance for the OMA, says the annuity was developed in partnership with Brookfield Annuity Co. and Common Wealth Retirement, the OMA’s retirement plan administrator, to specifically meet the retirement needs of the province’s […]

The post Ontario Medical Association introducing new pension annuity offering appeared first on Benefits Canada.com.

Corby, Hiram Walker entering $176-million group annuity buy-in

mschmit — Mon, 07 Dec 2020 12:20:48 +0000

Corby Spirit and Wine Ltd. and Hiram Walker & Sons Ltd. are de-risking with a $176-million group annuity buy-in amidst volatile markets caused by the coronavirus pandemic. The deal covers 750 retirees and beneficiaries and there will be no change for plan members, who will continue to be paid from the plan as before the […]

The post Corby, Hiram Walker entering $176-million group annuity buy-in appeared first on Benefits Canada.com.

Learn more about the DC Investment Innovation Award finalists

mschmit — Mon, 16 Nov 2020 05:08:27 +0000

Pension investments are a key component of ensuring secure benefits for plan members upon their retirement. To celebrate the plan sponsors and pension investors who work hard to ensure strong investment outcomes, the first-ever Pension Leadership Awards will recognize winners across several categories. The Defined Contribution Investment Innovation Award will go to a DC pension […]

The post Learn more about the DC Investment Innovation Award finalists appeared first on Benefits Canada.com.

The role of strategic credit in mature DB pension plans

mschmit — Wed, 28 Oct 2020 04:36:53 +0000

The pension industry is at a turning point, with the asset value of defined contribution plans growing, while defined benefit plans are shrinking. “In a decade’s time, you will have a situation where DC will be almost $50 trillion in size, but DB will be $10 trillion in size and there will be big changes […]

The post The role of strategic credit in mature DB pension plans appeared first on Benefits Canada.com.

Offering DB benefits for DC members at Halifax Port ILA/HEA pension plan

mschmit — Fri, 04 Sep 2020 03:41:33 +0000

The Halifax Port ILA/HEA has found a way to provide its defined contribution pension plan members with a defined benefit upon retirement — and it’s been doing so successfully for 35 years. As a private sector multi-employer plan, the pension has about 450 active members, 300 retirees and about $210 million in assets. The DB […]

The post Offering DB benefits for DC members at Halifax Port ILA/HEA pension plan appeared first on Benefits Canada.com.

Helping members to and through retirement at the Saskatchewan Pension Plan

mschmit — Wed, 01 Jul 2020 03:45:00 +0000

The Saskatchewan Pension Plan is improving investment choice for members in the accumulation phase and introducing new options to help them through decumulation as well. Leading up to retirement, SPP members are defaulted into a balanced fund, which has been in place since the plan started in 1986. In 2010, it introduced a short-term fund, […]

The post Helping members to and through retirement at the Saskatchewan Pension Plan appeared first on Benefits Canada.com.

U.S. DB plans looking to de-risk over next decade

mschmit — Wed, 30 Jan 2019 10:41:25 +0000

While 2018 was a strong year for de-risking among U.S. defined benefit plans sponsors, a significant portion of the more than $3 trillion in DB plan liabilities that have yet to be de-risked are expected to go through the risk transfer pipeline over the next 10 years, according to MetLife’s 2019 pension risk transfer poll. The poll […]

The post U.S. DB plans looking to de-risk over next decade appeared first on Benefits Canada.com.