Latest news in Governance/legislation

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PIAC urges flexibility in OSFI’s pension investment risk guidelines

The Pension Investment Association of Canada is urging the Office of the Superintendent of Financial Institutions to ensure its guidance on pension investment risk management is…

  • By: Staff
  • May 17, 2022 May 17, 2022
  • 12:30

A look at MEPPs in a shifting pension landscape

As the move away from traditional defined benefit plans continues and intensifies, Canada’s multi-employer pension plans are providing employers with another retirement savings option for…

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DeFi used in 97% of crypto theft: report

Decentralized finance technology facilitated more illicit cryptocurrency transactions in the first quarter of 2022 than in any other period, according to a report from Chainalysis…

Expert panel: Are private sector employers heading toward a pension renaissance?

Pension coverage in the public sector is high, with the vast majority of public sector employees covered by a defined benefit pension plan. However, the…

DCIIA urging U.S. government to develop emergency savings plans

The Defined Contribution Institutional Investment Association is calling on the U.S. government to develop flexible emergency savings solutions for employees. The Washington, D.C.-based organization is…

  • By: Staff
  • May 6, 2022 May 6, 2022
  • 09:00

Canada’s largest pension plans maintaining strong ties to fossil fuel sector: report

Directors, trustees and investment managers at Canada’s largest public pension funds are deeply involved in the fossil fuel sector, according to a new report by…

  • By: Staff
  • May 5, 2022 May 5, 2022
  • 13:00
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FSRA introducing whistleblower program to identify misconduct in pensions, financial services sectors

The Financial Services Regulatory Authority of Ontario is introducing a whistleblower program to more effectively identify misconduct in the pensions and non-securities financial services sectors.…

  • By: Staff
  • May 5, 2022 May 4, 2022
  • 09:00
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PIAC urging feds to allow tax-free mergers of target-date funds

The Pension Investment Association of Canada is urging the federal government to allow for tax-free mergers of maturing target-date funds. In a letter to the…

  • By: Staff
  • May 4, 2022 May 4, 2022
  • 09:00
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Provincial governments yet to complete review of Atlantic Lottery pension plan: auditors general

Despite a recommendation made by the four Atlantic provinces in 2016, a review of the Atlantic Lottery Corp.’s underfunded defined benefit pension plan has yet…

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Top 5 HR, benefits and pension stories of the week

A ruling by the Supreme Court of British Columbia on the B.C. Credit Union Employers’ Pension Plan’s normal retirement date was the most-read story on…

  • By: Staff
  • April 29, 2022 April 28, 2022
  • 09:00

Ontario’s budget proposing framework for target-benefit pension plans

In its 2022 budget on Thursday, the Ontario government said it’s implementing a permanent target-benefit pension plan framework in 2023. The budget noted specified Ontario…

  • By: Staff
  • April 29, 2022 April 29, 2022
  • 09:00

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

The Supreme Court of British Columbia has upheld the B.C. Credit Union Employers’ Pension Plan’s decision to increase its normal retirement date to age 65…

  • By: Staff
  • April 26, 2022 April 25, 2022
  • 09:00

A closer look at the feds’ proposed borrowing flexibility rule for DB pensions

Last week’s federal budget proposed more borrowing flexibility for registered defined benefit plans. The proposal would replace the historical 90-day term limit on short-term borrowing…

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Canadian pension funds top global transparency ranking: report

Canadian pension plans are the most transparent in the world, according to a new report by Top1000funds.com and CEM Benchmarking Inc. The report, which uses…

  • By: Staff
  • April 14, 2022 April 13, 2022
  • 09:00
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What’s in the federal budget for DB pension plans, institutional investors?

The federal government’s 2022 budget is addressing long-standing rules preventing defined benefit plan sponsors from borrowing in most circumstances. In the $56-billion budget, which is…

  • By: Staff
  • April 12, 2022 April 12, 2022
  • 13:00
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Calculation for commuted pension values confusing to some plan members: actuary

Changes to the calculation of commuted pension values in Canada are making it more challenging for defined benefit pension plan members to determine an optimal…

Caisse exposure to fraud, corruption risks exacerbated by investment strategy: Quebec auditor general

While Quebec’s Auditor General Guylaine LeClerc says the Caisse de Dépôt et Placement du Québec’s exposure to international and private markets is increasing fraud and corruption…

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Ontario Liberals promising portable drug, dental and mental-health services

Ahead of the upcoming provincial election, Ontario Liberal Leader Steven Del Duca is promising several benefits for employees and employers in his economic platform. The platform,…

  • By: Staff
  • March 29, 2022 March 28, 2022
  • 09:00

Idaho looking to pass bill banning pension investments in ESG-conscious businesses

Idaho lawmakers are calling for a ban on investments in environmental, social and governance compliant companies by its state pension funds. Proposed by Republican State…

  • By: Staff
  • March 24, 2022 March 24, 2022
  • 11:00

ACPM calling on PEI to allow automatic features in workplace pension plans

The Association of Canadian Pension Management is calling on Prince Edward Island’s pension regulator to amend the Employment Standards Act to facilitate auto-enrolment and auto-escalation…

  • By: Staff
  • March 22, 2022 March 21, 2022
  • 09:00

Head to Head: Should the U.S. ESOP structure be brought to Canada?

Canadian employers should consider the pros and cons of employee share ownership plans on both sides of the border. Loren Rodgers, executive director of the…

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Ontario judge cautions FSRA in certification of Brewers Retail pension class action

In certifying a pension class action by Brewers Retail Inc., an Ontario Superior Court judge denounced the Financial Services Regulatory Authority of Ontario for defying…

New report backs up calls to bring employee ownership to Canada

Developing a made-in-Canada approach to employee ownership trusts will address multiple public policy challenges, according to a new report by non-profit Social Capital Partners. Employee-owned…

  • By: Staff
  • March 7, 2022 March 4, 2022
  • 09:00

Top 5 HR, pension and benefits stories of the week

An article on British Columbia’s paramedics and their need for enhanced mental-health benefits was the most read story over the past week on BenefitsCanada.com. Here…

  • By: Staff
  • March 4, 2022 March 4, 2022
  • 09:00
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Report finds disconnect between how target-benefit plans are regulated, managed

Target-benefit plans are being hampered by a disconnect between how they’re regulated and how they’re managed, according to a new report for the C.D. Howe Institute.…

  • By: Staff
  • March 3, 2022 March 3, 2022
  • 09:00