Posts by: John Devine

May 2, 2012 – The British Columbia government wants to improve private sector pension coverage, and is looking at elements of traditional pensions to accomplish its goals. The government has introduced legislation which it says will allow the creation of alternative models to existing private plans, including adapting...

May 1, 2012 – The UK’s Financial Services Authority has tightened pension transfer rules to make it more difficult to transfer out of a defined benefit plan. The regulator, an independent agency that regulates financial services in the UK, announced in February that it was going to revamp the method of calculating a...

May 1, 2012 – The Ontario Municipal Employees Retirement System (OMERS) has partnered with Japanese pension plans to help build the world’s largest infrastructure investment fund. The goal is to help the Japanese plans create a $20 billion fund to invest in infrastructure projects. OMERS has committed a total of $7.5...

April 27, 2012 – Despite retreating from DB plans, British employers want to take on the risks associated with DC schemes, according to UK pensions minister, Steve Webb. Those risks include exposing employees to the ups and downs of the market, management fees and an undefined benefit upon retirement. Webb has been...

April 27, 2012 – Workers at jet fighter-manufacturer Lockheed Martin’s Fort Worth plant remain on strike over planned changes to the company’s pension plan. The company, the world’s largest defence company, has served notice that it wants to close its DB plan to new employees, replacing it with a DC scheme. Employees...

April 27, 2012 – Battle lines are being drawn on the pension front as workers tell employers they won’t accept changes to their retirement plans that reduce benefits, increase contributions and hike the retirement age. From Poland to England and Fort Worth, Texas, workers are serving notice changes to retirement plans...

April 26, 2012 – Demonstrating solidarity with workers across the developed world fighting pension cuts, Poles remain unconvinced their government’s plans to raise the state retirement age is necessary. A recent poll revealed that 86 per cent of Poles oppose hiking the retirement age for women, while 79 per cent are...