October 2024
10Oct

How many Canadians are gig workers?

More than one in five (22%) Canadians are participating in gig work of various kinds across the country. That equates to about 7.3 million adults finding work outside of regular employment. And they are doing it for a variety of reasons, reports Securian Canada, with more than half (57%) — or roughly four million people — relying on this type of work to supplement their primary income. Nearly three-quarters (73%) of all gig workers are either employed full-time or part-time outside...

October 10, 2024
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03Oct

What strategies are working to increase pension coverage?

It’s no surprise that people are living longer and retiring later. Last week’s Association of Canadian Pension Management (ACPM)’s annual national two-day conference held in Kelowna, BC offered Canadian pension plan sponsors, administrators, trustees, asset managers and other retirement income system leaders a look into the organizations in Canada and around the world who are employing a range of strategies to increase pension coverage and improve retirement outcomes for Canadians. Global Pension Index David Knox, senior partner and senior actuary for Mercer...

October 3, 2024
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02Oct

Canadian defined benefit pension plans show decreased funded levels in Q3: 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 percent compared to 106.9 percent at the end of the second quarter, according to the Aon Pension Risk Tracker. 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 plans. To access Aon's interactive tracker, which dates to 2013, click here. Key findings for the quarter...

October 2, 2024
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September 2024
20Sep

Canada. PSP Investments’ green assets increased to $64.9BN in fiscal 2024: report

The Public Sector Pension Investment Board has $64.9 billion invested in green assets, compared to $48.9 billion in fiscal 2023, according to the investment organization’s latest sustainability report. It found in addition to green assets, PSP Investments has roughly $11.5 billion in transition assets, defined as investments that have committed to make a substantial contribution to the low-carbon transition through the establishment of public targets and disclosure. Among PSP Investments’ portfolio companies, reported Scope 1 and Scope 2 greenhouse gas emissions data...

September 20, 2024
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August 2024
22Aug

Canadian pension funds recognized for governance, sustainability practices: report

Four of Canada’s largest pension funds have been ranked among the top 10 global pension funds for demonstrating best practices in governance, sustainability and resilience, according to a new report by data platform Global SWF. The assessment tool, which reviews the practices and efforts of state-owned sovereign wealth funds and public pension funds, gave the Caisse de dépôt et placement du Québec and the British Columbia Investment Corp. perfect scores across the board alongside the Ireland Strategic Investment Fund, Singapore-based...

August 22, 2024
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14Aug

Canadian pension plans facing unexpected taxes in EU countries: PIAC

Canadian pension plans are facing unforeseen taxation of dividends in European Union countries like Germany and the Netherlands, said the Pension Investment Association of Canada. In an open letter, the PIAC said its members have endured a discriminatory dividend taxation relative to settled European tax law and the free movement of capital within the EU over the last decade. “Canadian pension plans are seeing discriminatory and distortive taxation, resulting in penalties from broad applications of the ‘free movement of capital provision’...

August 14, 2024
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July 2024
25Jul

The decumulation challenge

As people continue to live and work longer, the challenge of longevity – running out of money too soon into retirement - is hanging over many Canadians’ retirement plans. According to research from CCP Investments, only 45% of Canadians actually have some sort of plan in place for their retirement, with 53% admitting they don’t know how much money they’ll need to retire. Part of this anxiety stems from a change in the last decades in the retirement plan landscape, as...

July 25, 2024
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09Jul

Group of Canadian pension fund giants urges CSSB to reconsider exemptions from sustainability reporting

Canadian pension funds question CSSB's proposed exemptions and call for global standards. Investors highlight the importance of consistent sustainability reporting. Pension funds warn that exemptions could undermine global alignment and investor confidence. A coalition of major Canadian pension funds has submitted a letter to the Canadian Sustainability Standards Board (CSSB), urging it to reconsider proposed exemptions for sustainability reporting. This initiative underscores the critical need for global consistency and alignment in sustainability disclosures. The letter is signed by representatives of the following...

July 9, 2024
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03Jul

Canadian pension plans were volatile in Q2: Mercer

Defined-benefit (DB) pension plans in Canada experienced volatility throughout the second quarter of 2024 due to interest rate changes and market instability, according to Mercer Canada. The DB plans tracked in Mercer’s database had an average solvency ratio of 118% on March 29, 123% on April 30, 122% on May 31 and 118% on June 28. The solvency ratio is the ratio of plan assets to liabilities. “The overall financial health of DB pension plans in Canada remains strong,” said Jared Mickall,...

July 3, 2024
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May 2024
07May

Assuring the sustainability of the Canada Pension Plan: A new consensus is required

By: Keith Ambachtsheer, Malcolm Hamilton, Ed Waitzer   The creation of the Canada and Quebec pension plans in the 1960s and subsequent amendments to them in the 1990s is a compelling story of how governments worked together to create and sustain one of Canada’s greatest public-policy achievements. Today we are faced with the thorny issue of how to determine a fair basis on which Alberta might choose to exit the CPP. When the CPP was created, Ontario requested a provision to allow...

May 7, 2024
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