Pension Financial Results – News on Your Pension Sustainability

Europe is taking a unity step, at least in terms of providing a pension product that crosses borders. If adopted by the European Commission, a proposed voluntary pension plan will be available for Europeans whose work takes them across the continent, writes Jann Lee for Benefits Canada. “All in all, we agree with...

A program designed to help people save for retirement has been axed by the U.S. Treasury, writes Katie Lobosco for CNN News. The Treasury says that the Obama-era savings program, myRA, did not attract sufficient interest from its targeted audience and that the benefits of the program didn’t justify the costs. It was...

An update from the legal counsel of former Sears Canada Inc. employees says that employees “who opt to take the commuted value of their defined benefit pension are facing an immediate 19 per cent reduction in their entitlements,” writes Jennifer Paterson for Benefits Canada. The update continues that “the...

A promise isn’t worth much if it isn’t kept, as thousands of American retirees are discovering, writes Ed Leefeldt for CBS Money Watch. Ohio iron workers are experiencing this as their pensions have been reduced, in some case by more than half, due to troubled pension funds trying to sort their books. Using a 2014 law,...

When lawyers for Sears Canada appeared in court this week regarding the closure of stores across the country, dozens of former employees were there for the proceedings, writes Linda Nguyen and David Paddon for the Canadian Press (CP). They “packed a Toronto courtroom Thursday to hear the retailer ask for approval to...

Montreal firefighters have come to terms with the city “regarding the restructuring of the department’s pension plan … and other contract disputes,” writes René Bruemmer for the Montreal Gazette. “The agreement with the firefighters’ association means all pressure tactics linked to the pension negotiations will...

Already among the world’s largest pension funds and institutional investors, the Canada Pension Plan Investment Board (CPPIB) has reached new heights, ending its fiscal year with net assets of $316.7 billion, a $37.8 billion increase from the previous year. The CPP Fund’s increase in assets for the year, which ended...