Canada

CANADA - A coalition of unions is urging Alberta Local Authorities Pension Plan (LAPP) members and pensioners to lobby their local politicians over changes to rules relating to governance of the scheme.

CANADA - Credit crunch caused Canadian pension plans to suffer loses in the final two quarters of 2007, according to RBC Dexia Investor Services.

CANADA - At current contribution rates, the reserves of the Québec Pension Plan (QPP) will be completely drained by 2051, the chief actuary of Canada has warned.

CANADA - Alberta has become the first province to allow its pension funds the permanent right to use letters of credit (LOC) to fund solvency deficiencies.

CANADA - The majority of pension plans are failing to give investment managers direction on proxy voting, a survey from the Shareholders Association for Research and Education (SHARE) has found.

CANADA - A dozen schools have yet to ratify a deal agreed between the Alberta Teacher's Association (ATA) and the provincial government in order to cover a CAN$4.6bn liability in the Teacher's Pension Plan.

CANADA - Quebec has had its financial outlook rating for long-term foreign and currency debt upgraded to 'positive' from 'stable' by Fitch Ratings, despite rising debt levels and high pension liabilities.

CANADA - Longevity rates are set to slow and mainly affect older people in coming years, according to the chief actuary of the Canadian Pension Plan (CPP), Jean-Claude Ménard.

CANADA - The Ontario Teachers' Pension Plan Board (OTPP) has submitted a bid for a C$84m (US$84m) stake in oil and gas company NuVista Energy.

CANADA - The Canadian Pension Plan (CPP) Investment Board has defended its decision to invest in asset backed commercial paper (ABCP) and cited market confusion as an opportunity to make money.