Pension Pulse

Steve Randall of Wealth Professional reports half of Canadian women have less than $5K in savings, HOOPP research reveals: When people talk about their retirement , it often focuses on freedom from work, spending time with friends and family, perhaps travelling the world on luxury cruises. But the retirement dream may never be realized for millions of Canadians who are woefully unprepared for their post-work years, according to new research from the Healthcare of Ontario Pension Plan (HOOPP) and Abacus Data which suggests a bleaker future could be ahead, especially for women. The HOOPP 2024 Canadian Retirement Survey found that 49% of women have less than $5,000 saved compared to 33% of men, while 22% of all respondents have no savings at all. The survey was conducted among adults over 18 during April 2024. More than one in three women aged 55-64 hav

  Amy Bainbridge of Bloomberg reports Australian pensions warned private assets valued too infrequently: Australia’s pensions regulator said some funds in the A$3.9 trillion ($2.6 trillion) industry aren’t valuing assets such as private equity and property frequently enough. The Australian Prudential Regulation Authority said unlisted assets in some instances weren’t valued “at least quarterly,” in line with the recommendations, according to a letter published Wednesday. There was also room for improvement on the extent to which boards scrutinize the valuations of these assets, the letter said.  Australia, home to one of the world’s fastest growing pools of pension capital, has seen an increased appetite for private assets both domestically and abroad, and they now comprise almost a fifth of their investments. Last year, some of the biggest firms told Bloomberg they’d seen write downs in their property portfolios, but said that hadn’t materially impacted members’ returns .

Simon Hoyle of Top1000funds reports pioneers of the Canadian model say its principles are under siege: A founding principle of the Canadian pension system is under attack. The Fiduciary Investors Symposium in Toronto heard from four individuals who have been instrumental in making the system what it is today, and that the sound principles that made the system great need to be defended. Two high profile pioneers of the $4.1 trillion Canadian pension industry have warned the founding principles that have made Canadian funds exemplars around the world are under attack.   Independent board member and former Canadian Pension Plan Investment Board chief executive officer Mark Wiseman told the Top1000funds.com Fiduciary Investors Symposium in Toronto that principles set out in the early days of the development of the system are “being assailed”.   And University of Toronto Rotman School of Management executive in residence and pension system luminary Keith Ambachtsheer told t

James Bradshaw of the Globe and Mail reports PSP Investments CEO Deborah Orida emphasizes focus and discipline amid tough investing conditions: Public Sector Pension Investment Board chief executive officer Deborah Orida is emphasizing focus and discipline as she prepares the $265-billion fund for a tougher investing environment that could face longer-term pressure from inflation and interest rates. The leaders at PSP Investments spent much of the past fiscal year crafting a three-year plan that aims to sharpen the organization’s focus on areas where it is strongest and to increase the edge it can gain from actively managing investments, as markets look poised to stay volatile and uncertain for some time. The fund, which manages pensions for the federal public service, Canadian Armed Forces and the RCMP, earned a 7.2-per-cent return on its investments in the fiscal year that ended March 31. That beat the performance of the fund’s internal benchmark, which gained 6.4 per c