De-risking deconstructed – case studies from across Canada and abroad

Northwind Pension Fund Invitational Forum

October 21-23, 2015

Northwind Pension Fund Invitational Forum, Cambridge, Ontario

Presenter: Heather Wolfe

Pension plans are risky. With volatile markets and interest rates, investment risk, longevity risk and funding risk have never been more pronounced. In recent years, we have seen several plan sponsors attempt to address this risk. Some have moved to DC, thus shifting these risks to members. Others are looking to de-risk their DB plans through specific strategies that address these risks through insurance and derivative products. Bell Canada’s $5 billion longevity insurance purchase is the most recent example and is the first and largest of its kind in North America to date. Heather Wolfe joined a panel that included Andrea Boctor (Stikeman Elliott LLP), Gavin Benjamin (Towers Watson), Benoit Hudon (Mercer), Eleanor Marshall (Bell) to discuss the anatomy of how strategies similar to Bell’s are executed. Heather focused on explaining how longevity insurance works.

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