Pension Financial Results – News on Your Pension Sustainability

An Ontario Superior Court judge in the Sears Canada bankruptcy hearings has postponed a ruling on a request to wind up the company’s pension fund, ordering that other creditors not be paid until the issue is determined. The motion to wind up the plan was brought by the lawyer representing the company’s pensioners,...

He is known as the father of the 401 (k), but Ted Benna is no fan of the fees and expanse of investment choices that sprang from his creation. Now, writes Bruce Shutan for Employee Benefit Advisor, Benna “has reinvented the wheel for small businesses that struggle to afford a retirement benefit offering,” devising three...

News that British Airways plans to close its main pension plan isn’t sitting well with unions representing the airline’s workers, and they are demanding urgent talks with the carrier. The airline says the move is driven by a “significant and growing” deficit for the plan that has 17,000 members, writes James Sillars...

New data from Willis Towers Watson shows that assets held by the world’s largest pension funds grew by 6.1 per cent in 2016, reaching $15.7 trillion. Canada’s share of those assets total 5.4 per cent, up from 5.3 per cent the previous year. That moves the country by the United Kingdom into fifth place for share of...

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...