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What’s in the federal budget for DB pension plans, institutional investors?

The 2023 federal budget, which was announced on Tuesday, includes several initiatives related to defined benefit pension plans and the broader institutional investment sector. The…

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Manitoba, NL to sign onto agreement for multi-jurisdictional pension plans

Manitoba and Newfoundland and Labrador are signing the 2020 agreement respecting multi-jurisdictional pension plans, effective July 1, 2023. The agreement, which was introduced in June…

  • By: Staff
  • March 30, 2023 March 29, 2023
  • 09:00
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Enhanced national dental plan to require reporting of employer-provided coverage: budget

In its 2023 budget on Tuesday, the federal government proposed roughly $13 billion over the next five years and $4.4 billion ongoing to fully implement…

  • By: Staff
  • March 29, 2023 March 29, 2023
  • 09:00
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Pension super-priority bill likely to pass Senate vote this week

A bill that provides super-priority to defined benefit pension plan members during plan windups or employer bankruptcies is expected to be passed by the Senate…

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Biden vetos resolution to bar ESG investing in state pensions

A resolution to reverse a rule allowing U.S. pension investors to consider environmental, social and governance criteria has been blocked by President Joe Biden. “It…

  • By: Staff
  • March 23, 2023 March 22, 2023
  • 12:30

PIAC praising CAPSA’s strategic plan for addressing regulatory inconsistency

The Pension Investment Association of Canada is praising the Canadian Association of Pension Supervisory Authorities for addressing the regulatory inconsistencies facing Canada’s defined contribution pension…

  • By: Staff
  • March 23, 2023 March 23, 2023
  • 12:30

B.C. court dismisses appeal, upholds pension plan’s decision to increase retirement age

A British Columbia court has dismissed an appeal of a Supreme Court of B.C. decision that upheld the B.C. Credit Union Employers’ Pension Plan’s choice…

  • By: Staff
  • March 21, 2023 March 20, 2023
  • 09:00

A look at China’s private pension pilot project

Traditionally, Chinese workers have relied on two pillars of income in retirement — the basic state pension and employer-sponsored plans open to employees in certain…

Alaska considering return to DB pension model in public sector

To bolster Alaska’s public sector, a bipartisan effort is underway to relaunch the state’s pensions as defined benefit plans. “I’m carrying this bill on behalf…

  • By: Staff
  • March 16, 2023 March 15, 2023
  • 12:00

Spain’s unions back government public pension reform

Spain’s left-wing government won the backing of unions to reform the nation’s public pension system on Wednesday, in stark contrast with neighbouring France, where plans…

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ACPM urging CAPSA to prioritize decumulation in draft 2023-2026 strategic plan

The Association of Canadian Pension Management is encouraging the Canadian Association of Pension Supervisory Authorities to prioritize decumulation in its draft 2023-2026 strategic plan. In…

  • By: Staff
  • March 16, 2023 March 15, 2023
  • 09:00
FSRA issues final guidance on missing pension plan members

How employers can help track down Ontario’s 175,000 missing pension plan members

Ontario-based pension plan sponsors can help reduce the number of missing plan members by examining their communications strategies and maintaining best practices in record keeping…

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BCI’s new proxy vote guidelines address board diversity at Canadian companies

The British Columbia Investment Management Corporation is expanding its proxy voting guidelines around racial diversity to cover Canadian-domiciled investee businesses. “Proxy voting is a key…

  • By: Staff
  • March 9, 2023 March 9, 2023
  • 12:45

Government advisory group urges Canada to develop sustainable finance taxonomy

A new report is calling on Canada to develop a sustainable finance taxonomy in order for it to reach its carbon emissions targets. “Many countries…

  • By: Staff
  • March 7, 2023 March 7, 2023
  • 12:00
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Top 5 HR, benefits, pension and investment stories of the week

An article on a private member’s bill prohibiting the Canada Pension Plan Investment Board from making certain investments was the most-read story on BenefitsCanada.com over…

  • By: Staff
  • March 3, 2023 March 2, 2023
  • 09:00

Expert panel: Air Canada decision illustrates danger of relying on pension plan terms in wrongful dismissal actions

A recent court decision in Ontario illustrates the potential danger for employers that attempt to rely on pension plan terms to refute claims for pension-related…

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Private member’s bill prohibiting certain CPPIB investments survives first reading

A private member’s bill prohibiting the Canada Pension Plan Investment Board from making certain investments survived its first reading in the House of Commons. Bill…

  • By: Staff
  • February 27, 2023 February 27, 2023
  • 15:00

DB pension plans with overlay strategies finding flexibility after OSFI’s going-concern discount rate clarification: expert

Defined benefit pension plan sponsors using overlay strategies will gain more flexibility amid rising inflation now that the Office of the Superintendent of Financial Institutions…

Top 5 HR, benefits, pension and investment stories of the week

The Federal Court’s ruling that the termination of long-term disability benefits for Air Canada employees eligible to receive unreduced pension benefits doesn’t amount to age…

  • By: Staff
  • February 24, 2023 February 24, 2023
  • 09:00

Termination of LTD benefits for Air Canada workers eligible to receive unreduced pension benefits doesn’t amount to age discrimination: court

The Federal Court has ruled that the termination of long-term disability benefits for employees who become eligible to receive unreduced pension benefits doesn’t amount to…

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Lack of viable alternatives to pension super-priority bill likely to ensure its passage, says pensioner association

A bill that would give super-priority to defined benefit pension plan members during plan windups and insolvencies is likely to be passed by the senate…

PIAC calls for going-concern plus regime, VPLAs, PRPP framework in pre-budget submission

The Pension and Investment Association of Canada is calling on the federal government to establish a going-concern plus regime as a long-term minimum funding requirement for…

  • By: Staff
  • February 15, 2023 February 14, 2023
  • 09:00
ESG influencing company strategy, increasing oil market vulnerability: reports

Pension plans among shareholders suing Shell board over climate strategy

Several European pension plans are backing a lawsuit against Shell Corp. alleging its board is mismanaging climate risk and breaching company law. The lawsuit, launched…

  • By: Staff
  • February 14, 2023 February 13, 2023
  • 11:30
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Clear, consistent guidelines required for integrating sustainability in investment decisions in Canada: report

Canada requires clear, consistent guidance on the integration and reporting of sustainability factors into investment decisions, according to a new report from the United Nations-based…

  • By: Staff
  • February 14, 2023 February 13, 2023
  • 09:00
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Converting private sector pension plans to public sector model would yield lifetime income for retirees: expert

Private sector pension plans could realize higher rates of return and produce lifetime income if they followed a model similar to their public sector counterparts,…