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Financial fairness and risk sharing central to making target benefit pension plans work

By Kate McCaffery | July 9, 2024, 10:48 a.m.

Photo: Freepik

Target benefits plans require careful management of intergenerational risk.

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Headlines

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Investments

Defined benefit pension plan membership numbers increase

Pensions continue derisking

iA Financial Group reports 5% increase in net income for second quarter of 2024

Pension investment returns positive in the second quarter of 2024

Guaranteed withdrawal benefit plans

Most defined benefit plans in Ontario fully funded at the end of March

Guaranteed Withdrawal Benefit: just 3 players still in the game

Empire Life brings out new guaranteed issue life insurance product

LIMRA finds majority of annuity premium used to create guaranteed income

Life Insurance

European cross-border medicine example touted as a solution for Canada

Canadian life application activity flat in August

Seniors least likely to have dental insurance

Ontario ministry scrutinizes preferred provider networks

CANADIAN INSTITUTE OF ACTUARIES (CIA)

Actuaries climate index rose in early 2024

Pension plans show strength amid market volatility

Crucial risk element not being considered in climate discussions

Higher education levels associated with longer, healthier lifespans

Distribution

Managing general agencies: A closer look at Ontario’s proposed licensing requirements

Life insurance application activity climbs in Canada

Co-operators General reports $96 million profit in second quarter

Intact nearly triples profit in Q2 2024

Investment

Industry job vacancies jump more than 37 per cent in May

Hurricane season not expected to impact reinsurer’s credit ratings

iA Financial Group acquires 115,000 policies

Insurers should abandon fossil fuels, say investors

Special risks

Hurricane Debby event is the costliest in Quebec’s history

Reinsurers called out for retreating from risk

Poor integration of current technologies hinders pricing

Ways to mitigate damage caused by breaches

Strategy

Term life insurance policies see the highest increase in 2023

Applied Systems acquires artificial intelligence firm

Ontario ministry proposes managing general agency licensing regime

Health Canada takes on appropriate medication use

Retirement

Taxes would need to rise dramatically to meet demands of demographic change

Legislative changes have implications for plan administrators

Downward trend in labour force participation expected to persist until 2030

Retirees and pre-retirees may need to adapt their plans and strategies

Analytic

Nearly half of Canadians have difficulty meeting day-to-day expenses

Empire Life posts net income of $35 million for the second quarter of 2024

Great-West Life’s net earnings rise by 77%

Markets confirm the value of long-term financial plans