{"id":398587,"date":"2026-01-10T04:35:13","date_gmt":"2026-01-10T04:35:13","guid":{"rendered":"https:\/\/www.newsbeep.com\/us\/398587\/"},"modified":"2026-01-10T04:35:13","modified_gmt":"2026-01-10T04:35:13","slug":"laurentian-bank-buying-group-annuity-contracts-to-derisk-pension-plans","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us\/398587\/","title":{"rendered":"Laurentian Bank buying group annuity contracts to derisk pension plans"},"content":{"rendered":"\n<p class=\"yf-vbsvxt\">MONTREAL \u2014 Laurentian Bank of Canada is buying group annuity contracts to cover the responsibility for pension benefits owed to about 400 retirees, beneficiaries and deferred pension members.<\/p>\n<p class=\"yf-vbsvxt\">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<p class=\"yf-vbsvxt\">Laurentian says the obligations related to pension benefits for active plan participants will remain with the bank and continue unchanged.<\/p>\n<p class=\"yf-vbsvxt\">Under the agreement, the insurer will begin administering the benefits in April.<\/p>\n<p class=\"yf-vbsvxt\">The bank says the agreement reduces its non-operating financial risk and administrative costs.<\/p>\n<p class=\"yf-vbsvxt\">Laurentian announced a deal late last year to split itself up and sell its commercial operations to Fairstone Bank of Canada and its retail and small business arm to National Bank.<\/p>\n<p class=\"yf-vbsvxt\">This report by The Canadian Press was first published Jan. 9, 2026.<\/p>\n<p class=\"yf-vbsvxt\">Companies in this story: (TSX:LB)<\/p>\n<p class=\"yf-vbsvxt\">The Canadian Press<\/p>\n","protected":false},"excerpt":{"rendered":"MONTREAL \u2014 Laurentian Bank of Canada is buying group annuity contracts to cover the responsibility for pension benefits&hellip;\n","protected":false},"author":2,"featured_media":398588,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[39],"tags":[28,192517,192516,192515,84052,147,530,59291],"class_list":["post-398587","post","type-post","status-publish","format-standard","has-post-thumbnail","category-personal-finance","tag-business","tag-canadian-insurer","tag-deferred-pension","tag-laurentian-bank-of-canada","tag-pension-benefits","tag-personal-finance","tag-personalfinance","tag-the-canadian-press"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/398587","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/comments?post=398587"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/398587\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media\/398588"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media?parent=398587"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/categories?post=398587"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/tags?post=398587"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}