{"id":16530,"date":"2019-08-28T10:00:49","date_gmt":"2019-08-28T14:00:49","guid":{"rendered":"https:\/\/www.benefitscanada.com\/news\/morneau-shepell-takes-on-buy-in-annuity-contracts-for-stelco-pension-134873"},"modified":"2019-08-28T10:00:49","modified_gmt":"2019-08-28T14:00:49","slug":"morneau-shepell-takes-on-buy-in-annuity-contracts-for-stelco-pension","status":"publish","type":"post","link":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/2019\/08\/28\/morneau-shepell-takes-on-buy-in-annuity-contracts-for-stelco-pension\/","title":{"rendered":"Morneau Shepell takes on buy-in annuity contracts for Stelco pension"},"content":{"rendered":"\n<div class=\"alignleft clearfix\">\n<div class=\"wp-caption feature-image alignleft\"> <img decoding=\"async\" loading=\"lazy\" width=\"316\" height=\"190\" src=\"https:\/\/www.benefitscanada.com\/wp-content\/uploads\/2017\/02\/Cover_Stelco_GettyImage.png\" class=\"attachment-feature size-feature wp-post-image\" alt title=\"Morneau Shepell takes on buy-in annuity contracts for Stelco pension\"> <\/div>\n<\/p><\/div>\n<p class=\"byline\"> <span>Staff<\/span>&nbsp;|&nbsp;August 28, 2019 <\/p>\n<p>In its capacity as plan administrator, Morneau Shepell Ltd. purchased several buy-in annuity contracts for the Stelco Inc.&nbsp;pension plan in July.<\/p>\n<p>The goals of the transaction&nbsp;are to&nbsp;preserve the favourable financial position of the plan, ensure fair treatment of all&nbsp;members and maximize benefit protection, said Morneau Shepell in a press release.<\/p>\n<p>The Canada Life Assurance Co., Sun Life Assurance Co. of&nbsp;<span class=\"xn-location\">Canada<\/span>, BMO Life Assurance Co. and the Co-operators Life Insurance Co. were all involved in the structure of the&nbsp;$885 million deal.<\/p>\n<p><strong>Read:&nbsp;<a href=\"https:\/\/www.benefitscanada.com\/pensions\/governance-law\/morneau-shepell-appointed-administrator-of-stelcos-five-db-pension-plans-106526\">Morneau Shepell appointed administrator of Stelco\u2019s five DB pension plans<\/a><\/strong><\/p>\n<p>In total, the transaction covers 2,725 retirees and beneficiaries, deferred vested and active or suspended&nbsp;plan members.<\/p>\n<p>\u201cOur team re-engineered the structure of our pension risk transfer process and worked closely with insurers\/reinsurers, which was a key differentiator for this transaction,\u201d said Beno\u00eet Labrosse, vice-president of asset and risk management at&nbsp;<span class=\"xn-person\">Morneau Shepell<\/span>. \u201cIn the past few years, the Canadian pension risk transfer market has evolved to make larger and more complex transactions possible for the benefits of our clients.\u201d<\/p>\n<p><strong>Read:&nbsp;<a href=\"https:\/\/www.benefitscanada.com\/news\/buy-ins-and-boomerangs-a-look-at-the-trends-in-canadas-annuity-market-110110\">Buy-ins and boomerangs: A look at the trends in Canada\u2019s annuity market<\/a>&nbsp;<\/strong><\/p>\n<p> <a href=\"https:\/\/www.benefitscanada.com\/news\/morneau-shepell-takes-on-buy-in-annuity-contracts-for-stelco-pension-134873\">Read the full article at BenefitsCanada.com<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Staff&nbsp;|&nbsp;August 28, 2019 In its capacity as plan administrator, Morneau Shepell Ltd. purchased several buy-in annuity contracts for the Stelco Inc.&nbsp;pension plan in July. The goals of the transaction&nbsp;are to&nbsp;preserve the favourable financial position&#46;&#46;&#46;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[],"tags":[],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/16530"}],"collection":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/comments?post=16530"}],"version-history":[{"count":0,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/16530\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/media?parent=16530"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/categories?post=16530"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/tags?post=16530"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}