{"id":229496,"date":"2026-01-09T18:02:09","date_gmt":"2026-01-09T18:02:09","guid":{"rendered":"https:\/\/www.newsbeep.com\/il\/229496\/"},"modified":"2026-01-09T18:02:09","modified_gmt":"2026-01-09T18:02:09","slug":"laurentian-bank-buying-group-annuity-contracts-to-cover-pension-obligations","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/il\/229496\/","title":{"rendered":"Laurentian Bank buying group annuity contracts to cover pension obligations"},"content":{"rendered":"

Open this photo in gallery:<\/a><\/p>\n

Laurentian Bank is derisking its pension plans through group annuity contracts after announced a deal to split itself up last year.Christinne Muschi\/The Canadian Press<\/p>\n

Laurentian Bank of Canada LB-T<\/a> is buying group annuity contracts to cover the responsibility for pension benefits owed to about 400 retirees, beneficiaries and deferred pension members.<\/p>\n

The bank says the deal with a Canadian insurer transfers about $60-million in obligations and related assets in connection with its three registered defined benefit pension plans.<\/p>\n

Laurentian says the obligations related to pension benefits for active plan participants will remain with the bank and continue unchanged.<\/p>\n

Under the agreement, the insurer will begin administering the benefits in April.<\/p>\n

The bank says the agreement reduces its non-operating financial risk and administrative costs.<\/p>\n

Laurentian announced a deal late last year to split itself up<\/a> and sell its commercial operations to Fairstone Bank of Canada and its retail and small business arm to National Bank.<\/p>\n","protected":false},"excerpt":{"rendered":"Open this photo in gallery: Laurentian Bank is derisking its pension plans through group annuity contracts after announced…\n","protected":false},"author":2,"featured_media":229497,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[246,229,247,220,218,248,114,245,217,236,237,232,219,216,184,243,242,235,268,227,259,221,222,234,85,46,230,231,224,249,225,254,255,257,252,256,250,253,266,267,223,240,241,238,239,251,228,125,244,233,226,126,258],"class_list":["post-229496","post","type-post","status-publish","format-standard","has-post-thumbnail","category-personal-finance","tag-alberta","tag-arts-news","tag-bc","tag-breaking-news","tag-breaking-news-video","tag-british-columbia","tag-business","tag-canada","tag-canada-news","tag-canada-sports","tag-canada-sports-news","tag-canada-trafficcanada-weather","tag-canadian-breaking-news","tag-canadian-news","tag-economy","tag-education","tag-environment","tag-federal-government","tag-finance","tag-foreign-news","tag-globe-and-mail","tag-globe-and-mail-breaking-news","tag-globe-and-mail-canada-news","tag-government","tag-il","tag-israel","tag-life-news","tag-lifestyle","tag-local-news","tag-manitoba","tag-national-news","tag-new-brunswick","tag-newfoundland-and-labrador","tag-northwest-territories","tag-nova-scotia","tag-nunavut","tag-ontario","tag-pei","tag-personal-finance","tag-personalfinance","tag-photos","tag-political-news","tag-political-opinion","tag-politics","tag-politics-news","tag-quebec","tag-sports-news","tag-technology","tag-travel","tag-trudeau","tag-us-news","tag-world-news","tag-yukon"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/229496","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/comments?post=229496"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/229496\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media\/229497"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media?parent=229496"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/categories?post=229496"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/tags?post=229496"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}