Pension surplus court decision
CANADA - Employers can now use pension surpluses to pay defined contribution (DC) holidays after the Ontario Court of Appeal (OCA) reversed most of a previous ruling from the Ontario Supreme Court (OSC).
The OCA recently made the decision in Kerry (Canada) Inc. v DCA Employees Pension Committee in which Kerry Canada appealed a 2006 decision by the OSC. This held that Kerry Canada could not validly amend...
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Pension funds keep Canadian M&A activity afloat
CANADA - Canadian pension funds kept mergers and acquisitions (M&A) activity in the country afloat in the third quarter, according to PwC.
Canadian longevity risk transfer market could hit $20bn
CANADA - The nascent Canadian longevity risk transfer market could hit $20bn by 2020, Swiss Re finds.
OTPP, Illinois TRS invest in NXT Capital
CANADA/US - Teachers' Private Capital, a unit of the C$107.5bn ($106.4bn) Ontario Teachers' Pension Plan, and the $37.3bn Teachers' Retirement System of the State of Illinois have made equity investments to finance company NXT Capital.
Canadian funds post sharpest loss since 2008
CANADA - Canadian pensions marked their lowest quarterly returns since the start of the financial crisis on the back of world-wide market uncertainty, said RBC Dexia.
CPPIB and Oxford Properties build new RBC headquarters
CANADA - CPP Investment Board (CPPIB) and Oxford Properties, the real estate arm of the Ontario Municipal Employees Retirement System, have teamed up to build the Royal Bank of Canada's new Toronto headquarters.
