The Co-operators has acquired $660 million in pension plan liabilities from CSS Pension Plan
A report recommends changes to improve TFSAs for retirement savers and retirees
The industry group is calling on the government to enable the use of annuities within TFSAs
Industry more focused on VPLAs than ALDAs
Glenn O'Farrell to serve as chief executive and ombudsman
Industry association also wants improved access to variable payment life annuities, among other recommendations
ALDAs could guard against the risk of retirees outliving their savings
Although a few insurance companies are leaving the annuities business, the income-producing vehicles may be a good fit for clients who want to avoid investment risk
The association also is urging the federal government to reduce or eliminate the capital tax on financial services institutions
Manulife’s exit leaves a big gap