Increasingly, sponsors and administrators of registered pension plans are looking to simplify the management of their pension plans and delegate increased responsibilities to third-party providers. In addition, making timely investment decisions requires not only a daily focus on market activities but also regular communication between investment managers and actuaries. At the same time, many plan administrators are wary of the loss of independence and oversight that comes from engaging one firm to provide all the support needed.
In response to the changing needs of plan sponsors and administrators, Actuarial Solutions Inc. and Canada Life have developed together a new product, OCIO+. In addition to delivering to plan administrators with a fully outsourced Chief Investment Officer investment solution, we have bundled the required actuarial and pension administration services in one contract with one price. It’s just that simple!
Working with two independent organizations under one contract retains the accountability of working with two providers while providing a seamless and timely exchange of information behind the scenes between your actuaries and investment advisors.
The OCIO+ solution is unique in Canada and offers smaller and mid-size pension plans with affordable access to state-of-the art outsourcing, leaving management with more time to focus on its core business. Plan sponsors have different needs than plan administrators and although historically, for many pension plans, they were considered interchangeable, there is a growing understanding that they are separate entities with separate goals and responsibilities. In addition to the OCIO+ solution geared towards plan administrators, Actuarial Solutions Inc. is also able to work for plan sponsors outside of the OCIO+ bundle so that the efficiency of one actuarial firm for both ‘plan owners’ can be maintained.