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BC Pension Corporation is one of the largest pension plan administrative agents in Canada with assets in excess of CA$123.6 billion. [1] [2] Created in 2000 with the passage of the Public Sector Pension Plans Act, the corporation provides pension administration services on behalf of British Columbia's College, Municipal, Public Service, Teachers', and WorkSafeBC pension plans for each of their ...
The British Columbia General Employees' Union (BCGEU) is a trade union in British Columbia, Canada which represents over 95,000 members [2]. The union employs over 400 servicing and administrative staff in 12 area offices across the province and at the Burnaby head office. The current President of the BCGEU is Paul Finch. [3]
It started by managing assets previously managed by British Columbia's Ministry of Finance. BCI was modeled after other Canadian pension plan investment managers such as Caisse de dépôt et placement du Québec. [2] [3] [4] In July 2016, BCI formed QuadReal Property Group to manage real estate investments. This was in line with other Canadian ...
The pensions crisis or pensions timebomb is the predicted difficulty in paying for corporate or government employment retirement pensions in various countries, due to a difference between pension obligations and the resources set aside to fund them.
Crown corporations in BC are public-sector organizations established and funded by the Government of British Columbia to provide specialized goods and services to citizens. [1] They operate at varying levels of government control, depending on how they are defined, funded, and the kinds of services they provide.
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In all provinces and territories except Quebec, these plans are administered by Employment and Social Development Canada, while QPP is administered separately by the Quebec government. The Canada Pension Plan Investment Board (CPPIB) is a Canadian Crown corporation established by way of the 1997 Canada Pension Plan Investment Board Act to ...
Target benefit plans are similar to defined benefit plans in that the annual contribution is determined by a formula to calculate the amount needed each year to accumulate (at an assumed interest rate) a fund sufficient to pay a projected retirement benefit, the target benefit, to each participant upon reaching retirement.