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

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By Kate McCaffery | July 25, 2024, 9:48 a.m.

Photo: Adobe Stock

Interest rate cuts have nuanced impact on the cohort.

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Pensions continue derisking

Markets buoyed by confidence in earnings

Defined benefit pension plan membership numbers increase

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Headlines

Pandemic-related excess mortality expected to linger for years

Ontario proposes accreditation for insurers that demonstrate sound practices

Competition for private assets expected to intensify

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Flash

Pandemic-related excess mortality expected to linger for years

Ontario proposes accreditation for insurers that demonstrate sound practices

Agent made 100 unauthorized transfers to meet quotas

Canadians open to artificial intelligence advice – even when unsound

ECKLER

Legislative changes have implications for plan administrators

Vulnerability is increasing alongside the cost of living for those over 50

Variable payment life annuities get new champion

An average year for property and casualty Insurers in 2023

Special risks

Hurricane Debby event is the costliest in Quebec’s history

Reinsurers called out for retreating from risk

Pensions continue derisking

Poor integration of current technologies hinders pricing

Strategy

Competition for private assets expected to intensify

Intact nearly triples profit in Q2 2024

Term life insurance policies see the highest increase in 2023

Applied Systems acquires artificial intelligence firm

Retirement

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

Defined benefit pension plan membership numbers increase

Pension investment returns positive in the second quarter of 2024

Downward trend in labour force participation expected to persist until 2030

Analytic

Canadian life application activity flat in August

Actuaries climate index rose in early 2024

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

Wealth management

RBC reports 29% rise in third-quarter wealth management earnings

BMO Wealth Management sees 9 per cent decline in third quarter profits

TD reports flat wealth management and insurance earnings

Desjardins reports 152% surge in insurance surplus earnings for the second quarter

Saving

Quebec-based AGA partners with Saskatchewan-based mutual fund broker

Registered retirement savings plan contributions resume downward trend

Life insurance associations urge government to make tax changes

Many Canadians are saving for retirement without a plan

Economy

Investors concerned about major US companies’ stock performance

U.S. liability risks expanding rapidly

Growing number of consumers insolvent

Economic uncertainty fails to dampen Canadian life insurers' performance