The current economic environment is particularly challenging for defined benefit pension plans. Many plans have to fund according to the solvency test, using asset market values and long-term bond rates to discount liabilities. The current …
When Old Age Security was changed in the Federal budget last year some people asked me whether the cuts were necessary. That is a difficult question because almost all government spending decisions are choices rather …
I originally wrote this article in May 2011. I think that it remains relevant today: feel free to disagree (or agree) in the comments below. Suppose you were told that you would live to 120. …
Most Defined Benefit (DB) pension plans in Canada are subject to provincial or federal pension legislation. This results in the requirement to fund the pension plan on a solvency basis: assets and liabilities are valued …
Last week, the Fraser Institute released and then withdrew a study, Canada’s $254 Billion Iceberg: Public-Sector Pension Liabilities, on Canadian public sector pension plans. From the news releases, one can piece together the argument: federal …
Pension plans, benefit plans, foundations and endowments are well aware of Responsible Investing (RI). RI is an investment strategy that integrates environmental, social and governance (ESG) factors in addition to financial factors, and its acceptance …
In my last blog posting, dated June 29, 2012, I commented on the issues I had with the way Defined Contribution (DC) Pension Plans are currently managed in Canada. In this follow-up post, I speculate …
Successful institutional investors think beyond asset class-specific decisions and think in terms of the overall portfolio. They see the forest for the trees. Institutional investors don’t invest in one silo or asset class. Instead, they …
First off I should thank Jeremy for his exaggerated praise in his last blog and maybe say something nice about him: he has a great family! As the spouse of a journalist, I must confess …
