At Brookfield Annuity Company, annuities are what we do.
Our focus gives us clarity and understanding,
which helps us manage risk effectively for our clients and policy members.
THOUGHT LEADERSHIP
Statutory Discharge – A Step Forward in Pension Risk Transfer
The dramatic reduction in risk for pension plan members and pension plan sponsors is a
defining feature of group annuities, whether the arrangement is a buy-in or a buy-out. In
July 2018, the government of Ontario further enhanced the value of buy-out transactions
covering Ontario-based pension plan members through new statutory discharge provisions in the
Ontario Pension Benefits Act (PBA). After meeting certain conditions,
single-employer pension plans that purchase a group annuity – one that fulfills specific
requirements to deliver benefits for former or retired members – will receive a full
statutory discharge from the obligation to pay a pension to those members.
LATEST NEWS
IBM selects Brookfield Annuity to participate in $1.5B pension risk transfer
transaction October 31, 2024