Through a customized investment strategy, we will take on your company’s longevity, market and benefit payment risks, relieving your balance sheet of pension risk and guaranteeing the future income of your members.
Defined Benefit
De-Risking Solutions
De-Risking Solutions
Download our brochure to learn more about how we can help you reduce your pension risk and provide security for your pensioners.
BMO Insurance - Group Retirement Solutions
Discover the ways BMO Insurance - Group Retirement Solutions can help support your company’s pension
Transfer Your Pension Risk
Reduce Administration
Our team will manage pension and benefit administration, reducing your need to train and employ pension experts, and freeing resources to focus on other areas of your business.
Provide 24/7 Member Access
Our group annuity online portal offers self-serve capabilities for your pensioners, and provides pertinent information to keep them informed of their benefit status at all times.
Want to learn more?
Download our brochure for additional information about our retirement and pension solutions.
Request Information for Your Business
Learn more about our customized solutions
Our Solutions
Our
and minimize the risks associated with your group pension plan.
Annuity Buy-Out
Your pension liabilities and benefit administration are transferred to BMO Insurance. A single premium further simplifies your pension administration.
Annuity Buy-In
We make monthly annuity payments to your plan in exchange for a single premium. The plan continues to pay members directly, making the policy invisible to retirees.
Longevity Insurance
Protect your plan specifically against longevity risk. We make monthly pension payments into the plan for the lifetime of your pensioners for a locked-in premium.
Solutions comparison
| Considerations: | Annuity Buy-Out | Annuity Buy-In | Longevity Insurance |
|---|---|---|---|
| Reduce Longevity Risk | Yes | Yes | Yes |
| Reduce Market Risk | Yes | Yes | No |
| Reduce Benefit Administration | Yes | No | No |
| Premium Type | Single lump sum | Single lump sum | Monthly Locked-In |
| Payment to Pensioners | Paid by GRS | Paid by Plan Sponsor | Paid by Plan Sponsor |
| Convertible | No | Yes, to Buy-Out | No |
| Accounting settlement | Yes | No | No |
| Member Portal | Yes | N/A | N/A |
Annuity Buy-Out
Your pension liabilities and benefit administration are transferred to BMO Insurance. A single premium further simplifies your pension administration.
Annuity Buy-In
We make monthly annuity payments to your plan in exchange for a single premium. The plan continues to pay members directly, making the policy invisible to retirees.
Longevity Insurance
Protect your plan specifically against longevity risk. We make monthly pension payments into the plan for the lifetime of your pensioners for a locked-in premium.
| Considerations: | Annuity Buy-Out | Annuity Buy-In | Longevity Insurance |
|---|---|---|---|
| Reduce Longevity Risk | Yes | Yes | Yes |
| Reduce Market Risk | Yes | Yes | No |
| Reduce Benefit Administration | Yes | No | No |
| Premium Type | Single lump sum | Single lump sum | Monthly Locked-In |
| Payment to Pensioners | Paid by GRS | Paid by Plan Sponsor | Paid by Plan Sponsor |
| Convertible | No | Yes, to Buy-Out | No |
| Accounting settlement | Yes | No | No |
| Member Portal | Yes | N/A | N/A |
Why Choose BMO Insurance?
As a leader in the pension industry and innovator in
Backed by the strength of BMO Financial Group and the investment management expertise of BMO Global Asset Management, BMO Insurance offers customized solutions, highly competitive pricing and specialized risk mitigation strategies to support your pension requirements.
Our Capabilities
- Demonstrates commitment to being one of the top providers of group annuities (13% average annual market share), footnote 1,, footnote 2
- Processes approximately 33,920 group annuity payments every month, for a total of $28.1M (as of July 2022)
- Holds double Assuris coverage through two legal entities (BMO Life Assurance Company & BMO Life Insurance Company)
- Retains strong liquidity and capital ratios: 113% LICAT Ratio (October 31, 2022); Rated “A (Excellent)” by A.M. Best Rating Services
- Offers highly competitive pricing
- Provides specialized risk mitigation strategies, as well as actuarial, life insurance and annuity expertise
Our People
Our team is comprised of highly talented experts in the pension industry, committed to
guiding plan sponsors through every stage of their
Jerome Lamontagne, FSA, FCIA, CERA
AVP, Client Relations, GRS
Jerome is responsible for supporting all our clients' de-risking needs.
Sohaib Razvi, PPAC, BBA
Head, Client Relations & Operations, GRS
Sohaib is responsible for supporting all our clients’ de-risking needs, and ensuring a smooth transaction from start to finish.
Send an email to Quote.GroupAnnuity@bmo.com. A representative will contact you shortly about your inquiry.
Our History
As a member of the BMO Financial Group, BMO Insurance is founded on a legacy that extends back to 1817. This proven history of financial strength lets us stand behind our insurance products by offering flexible coverage options, comprehensive benefits and competitive prices. A.M. Best Rating Services gives us a Financial Strength Insurer Rating of “A(Excellent)” and Long-Term Issuer Credit Rating of “A”, recognizing our excellent ability to meet our obligations.
We have earned our customers' trust through the integrity of our actions: We take pride in what we do, remain committed to continuous innovation, embrace diversity and strive to improve our performance.
Request Information for Your Business
Learn more about our customized solutions that can help you limit your pension risk and offer security for your employees.
Footnote 1 details Source: Life Insurance Marketing Research Association, 2017 to 2019 Canadian Pension Market Survey data
Footnote 2 details Average annual market share in the last 3 years, ending 2019.