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OPTrust, officially the OPSEU Pension Trust, [2] is a legal trust formed by the contractual agreement between the two plan sponsors, Ontario Public Service Employees Union and the Government of Ontario. [3] It manages one of Canada's largest pension funds and administers the OPSEU Pension Plan. [4]
A letter sent to Canadian pensioners in July 2011 from the Nortel pension administrator Morneau Shepell announced that pensioners in Canada would have their benefits cut. A webinar held by the legal firm Koskie Minsky on July 22, 2010, addressed some of the questions raised. [19] The windup of the $5 billion Nortel pension plan began in October ...
James Hay performed the trustee administration for a number of insurance companies who offer SIPPs to their customers who are often introduced via IFAs (Independent Financial Advisers). In 2014 James Hay evolved its SIPP to include other non-pension wrappers such as general investment accounts (GIAs) and individual savings accounts (ISAs) .
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The pensions industry has gravitated towards four industry terms to describe generic SIPP types: Deferred. This is effectively a personal pension scheme in which most or all of the pension assets are generally held in insured pension funds (although some providers will offer direct access to mutual funds). Self-investment or income withdrawal ...
The Ontario Pension Board in Canada is an independent organization responsible for administering defined-benefit pensions for certain employees of the provincial government and its agencies, boards, and commissions.
The Ontario Municipal Employees Retirement System [3] (OMERS) is a Canadian public pension fund, headquartered in Toronto, Ontario.OMERS is a defined benefit, jointly sponsored, multi-employer public pension plan created in 1962 by Ontario provincial statute to administer retirement benefits and manage pension investment funds of local government employees in the Canadian province of Ontario.
Despite opinion pieces claiming the imminent demise of DB plans in Canada, [7] Statistics Canada information verifies only a slight decline in the number of plans over the most recently available five-year period (9,304 in 2017 to 9,022 in 2021 – a 3.13% reduction). [8]