Despite market upheaval as a result of the coronavirus pandemic, the Canadian pension risk transfer market had its third-best year for group annuity transactions, according to Eckler Ltd.’s latest report. By the end of 2020, pension risk transfer market transactions totalled $4.45 billion, only slightly behind 2018’s $4.5 billion but below 2019’s $5.2 billion, noted the report. […]
General Motors of Canada Co. is transferring the longevity risk for $1.8 billion in pension plan liabilities through a group annuity buyout. Jennifer Wright, director of communications at GM Canada, said in a statement that the automaker has been taking steps to reduce risk and strengthen its retirement plans with a view to protecting the […]