Canada

CANADA - An Ontario union has pledged CAN$10,000 to support legal action by the Canadian Union of Public Employees (CUPE) Ontario against the Ontario Municipal Employees Retirement System (OMERS).

CANADA - The Canada Pension Plan reserve fund grew to a total CAN$81.3bn in fiscal 2005 but the investment gain of CAN$6.3bn on assets came in short of the CAN$10.3bn reaped in 2004.

CANADA - The Canadian Union of Public Employees (CUPE) Ontario has filed a lawsuit against the Ontario Municipal Employees Retirement System (OMERS) and three of its managers who it alleges were unjustly enriched at the expense of pension plan members....

CANADA - State Street Global Advisors is in the process of tweaking its liability driven investment (LDI) strategy rolled out in the UK earlier this year to develop a product suitable for the institutional market in Canada.

CANADA - Michelle Courchesne, Quebec's minister of employment and social solidarity, has introduced a Bill in parliament aimed at temporarily relaxing funding rules for defined benefit and hybrid pension plans.

CANADA - The Canadian Association of Pension Supervisory Authorities (CAPSA) is set to release a paper setting out possible ways forward on funding requirements for Canadian pension plans by mid June.

CANADA - The Canada Pension Plan Investment Board has made two new commitments to private equity partners, seeing its investments in the asset class grow to C$8.3bn.

CANADA - Canada Post Corporation will be forced to double its annual contribution to its defined benefit pension plan in 2005 in an effort to tackle its growing solvency deficit.

CANADA - Caisse de depot et placement du Quebec has purchased the real estate assets of Allied Capital Corporation and plans to acquire additional assets for a total of more than US$1bn.

CANADA - The CAD$84bn Ontario Teachers' Pension Plan has turned to inflation-sensitive assets in a bid to counter its growing pension promises for future retirees.