August 2022
12Aug

Canada Pension Plan discloses billions in investments

Canada Pension Plan Investment Board, Toronto, reported a large number of investments and commitments it made in the first and second quarters of fiscal 2023, according to news release Thursday issued along with its results for its first fiscal quarter that ended June 30. CPP Investments, which manages the assets of the C$523 billion ($406.1 billion) Canada Pension Plan, said in the fiscal first quarter it closed a C$230 million investment in the term loans of Legal Search, a provider...

August 12, 2022
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09Aug

Canada. Employment rate at historic high but aging population remains mostly out of work

A new study has found that although the employment rate for Canadians between 15 and 64 years of age (working age) is at a historic high, the overall labor market has yet to fully recover from the pandemic-induced recession due to the continued aging of the country’s population. The study was conducted by the Fraser Institute, an independent, non-partisan Canadian public policy think-tank. The study compares labor statistics for the first five months of 2022 relative to the same period in...

August 9, 2022
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02Aug

Canada’s CPPIB turns attention to stocks in hunt for value

Canada's $421 billion state pension fund has shifted its attention toward public equities from private deals after a sell-off in the first half boosted valuations, according to its top executive. Canada Pension Plan Investment Board is one of the world's largest institutional investors in private equity, with more than $100 billion invested directly in private companies and through funds. But in recent months, "we've been active in the public equity space, even in places like infrastructure and real estate," CEO...

August 2, 2022
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July 2022
22Jul

Caisse admits $150-million investment in bankrupt Celsius ‘raises a number of questions’

Quebec’s pension manager broke its silence about its investment in Celsius Network LLC, saying it will “take time” to resolve claims around the bankrupt cryptocurrency lender but admitted the investment didn’t pan out. Caisse de Dépôt et Placement du Québec invested $150 million in Celsius in October as part of a $400 million funding round co-led by WestCap Investment Partners LLC. Equity holders are likely to be wiped out after Celsius filed for Chapter 11 bankruptcy protection in a U.S. court,...

July 22, 2022
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21Jul

Canada. Pensions need to up their climate-risk management game

As the United Kingdom sweats under record-high temperatures, pension fund managers on this side of the pond are being warned about their net-zero targets. Pension fund administrators should continue to adopt net-zero emissions targets for 2050, and have their targets vetted through third-party certification standards — such as the Science-Based Target initiative or Glasgow Financial Alliance for Net-Zero — according to Building Climate Resilience in Canada’s Pension Funds, a report released by the Smart Prosperity Institute on Wednesday. The institute...

July 21, 2022
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08Jul

The Role of Longevity Annuities in Different Socioeconomic Classes: A Canadian Case Study

By Rui Zhou, Johnny Siu‐Hang Li & Kenneth Zhou A longevity annuity is a deeply deferred annuity which begins payments very late in life. By transferring some of the risk of outliving retirement savings at advanced ages to annuity providers, longevity annuities provide retirees with enhanced later-life financial security. This paper aims to investigate the impact of longevity annuity provision on retirement income planning for Canadians, on the basis of the tax rules and retirement system in Canada. The research...

July 8, 2022
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05Jul

Canadian defined benefit pension plans’ financial health steady in Q2 2022: Aon

Aon plc (NYSE: AON), a leading global professional services firm, announced today that the aggregate funded ratio for Canadian pension plans in the S&P/TSX Composite Index increased from 100.5 to 101.5 percent during the past three months, according to the Aon Pension Risk Tracker. It was at 96.9 percent at the beginning of the year. The Aon Pension Risk Tracker calculates the aggregate funded position on an accounting basis for companies in the S&P/TSX Composite Index with defined benefit (DB)...

July 5, 2022
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June 2022
10Jun

Aging People, Aging Places: Experiences, Opportunities, and Challenges of Growing Older in Canada

By Maxwell Hartt, Samantha Biglieri, Mark W. Rosenberg & Sarah E. Nelson How well do the places where we live support the wellbeing of older adults? The Canadian population is growing older and is reshaping the nation’s economic, social and cultural future. However, the built and social environments of many communities, neighbourhoods and cities have not been designed to help Canadians age well. Bringing together academic research, practitioner reflections and personal narratives from older adults across Canada, this cutting-edge text...

June 10, 2022
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03Jun

Canada. Pension plan sponsors uncertain about balancing ESG factors, fiduciary responsibilities: ACPM

Defined benefit pension plans and defined contribution pension plans are uncertain about how to incorporate environmental, social and governance issues into their investment processes in a way that’s consistent with fiduciary duties, according to a new white paper from the Association of Canadian Pension Management. “Sustainable investing, including ESG, is an area where some investment risks that have been acknowledged for decades are now becoming more acute (e.g., climate risk),” said the white paper. “How pension plans can, and should,...

June 3, 2022
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May 2022
27May

Many soon-to-be retired Canadians considering changing retirement date

One-third of retired Canadians between ages 55 and 75 have retired sooner than originally planned, according to a recent RBC survey. And while the survey didn't provide insight into why people decided to take advantage of their golden years earlier, Selene Soo, director of wealth insurance at RBC Insurance, offered her guess. "If I had to wager a guess, with the last two years, it could have been that it wasn't of their own choice. Just because of businesses going under,...

May 27, 2022
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