Latest news in Governance/legislation

Further clarity required on Ontario’s variable benefits proposal: PIAC

Further clarity required on Ontario’s variable benefits proposal: PIAC

While the Pension Investment Association of Canada is praising Ontario’s 2019 budget proposals, it’s also questioning how the provincial government is planning to implement them. In a…

  • By: Staff
  • May 29, 2019 September 19, 2019
  • 09:15
N.S. moving forward with new DB pension solvency regime

N.S. moving forward with new DB pension solvency regime

The Nova Scotia government is moving forward with changes to its regulatory framework for defined benefit pension plans. The province’s new framework follows a review launched in…

  • By: Staff
  • May 28, 2019 September 19, 2019
  • 15:15
House passes bill to help workers with retirement savings

House passes bill to help workers with retirement savings

The House overwhelmingly approved a bill Thursday to promote retirement security by making it easier for small businesses and other companies to offer retirement plans.…

Pension model of future must find common ground between DB, DC: report

Pension model of future must find common ground between DB, DC: report

The Canadian pension industry must go beyond the defined benefit versus defined contribution debate and focus on the model of the future, according to a…

  • By: Staff
  • May 24, 2019 September 19, 2019
  • 09:00
Pension industry welcomes clarity around electronic communications

Pension industry welcomes clarity around electronic communications

Plan administrators are welcoming the increased clarity accompanying the amendment of Ontario’s Pension Benefits Act to allow for the electronic designation of beneficiaries and the re-issue…

Sounding Board: How will Canadians stretch their retirement savings to age 100?

Sounding Board: How will Canadians stretch their retirement savings to age 100?

I was lucky enough to know my great-grandmother. I remember her living to the age of 94 — “incredible,” my family would say. But not…

CAPSA issues guidance on annuity quotes for pension solvency, hypothetical windup liabilities

CAPSA issues guidance on annuity quotes for pension solvency, hypothetical windup liabilities

Generally, when a pension plan goes through a solvency or hypothetical windup valuation, the actuaries will value some of the expected liabilities as commuted lump-sum…

Roll out of higher CPP costs expected to affect HR budgets for benefits, wages

It may not happen this year, or next year, or even the year after that. But sometime between now and 2025, Canadian employers will almost…

Sounding Board: B.C.’s municipal pension plan celebrating 80 years

Sounding Board: B.C.’s municipal pension plan celebrating 80 years

Canada’s public sector pension plans are well-respected internationally for their administration, independent governance, investments, regulation and plan design. And British Columbia’s municipal pension plan is…

  • By: Judy Payne
  • May 12, 2019 September 19, 2019
  • 08:45
Decumulation, cyber security among initiatives in CAPSA’s latest strategic plan

Decumulation, cyber security among initiatives in CAPSA’s latest strategic plan

The Canadian Association of Pension Supervisory Authorities has outlined its priorities for April 2019 to March 2022 in its new strategic plan, which included initiatives…

Can CPP have a provincial bias?

Can CPP have a provincial bias?

A recent report highlighting that Albertans are currently paying more into the Canada Pension Plan than the province’s retirees are taking out demonstrated an example of a…

Reports highlight social implications of workplace pensions

Reports highlight social implications of workplace pensions

A report published by the Canadian Public Pension Leadership Council in February 2019 offers compelling evidence about the broad benefits of workplace pension plans. The report,…

  • April 16, 2019 September 13, 2019
  • 08:30
New report calls for updated retirement age to reflect reality of today’s workforce

New report calls for updated retirement age to reflect reality of today’s workforce

Canada’s governments should consider updating the current retirement age to match the reality of today’s workforce, according to a new report by the Canadian Institute of…

PIAC supporting FSRA’s proposed approach to addressing changing pension environment

PIAC supporting FSRA’s proposed approach to addressing changing pension environment

The Pension Investment Association of Canada has released comments on the proposed strategic priorities for the newly formed Financial Services Regulatory Authority of Ontario, which…

  • By: Staff
  • April 12, 2019 September 13, 2019
  • 15:00
Could solvency reform in Canada lead to a DB pension revival?

Could solvency reform in Canada lead to a DB pension revival?

In early 2016, Rogers Communications Inc. announced it would be closing its defined benefit plan to new entrants and replacing it with a defined contribution…

  • By: Jann Lee
  • April 12, 2019 September 13, 2019
  • 08:56
Holistic retirement thinking: Integrating public, private pensions

Holistic retirement thinking: Integrating public, private pensions

Defined contribution plan sponsors should consider Canada’s public pension system when designing their plans, according to a panel comparing the Canadian system to the ones…

Pension and benefits highlights from Ontario’s 2019 budget

Pension and benefits highlights from Ontario’s 2019 budget

In its 2019 budget announcement on Thursday, the Ontario government said it’s taking a step towards implementing a framework for target-benefit pension plans. The budget…

  • By: Staff
  • April 11, 2019 September 13, 2019
  • 16:20
Think tank calling for tax-free workplace pension plans

Think tank calling for tax-free workplace pension plans

A new paper from Ryerson University’s National Institute of Ageing is calling for the creation of workplace tax-free pension plans to better support Canadians’ financial security…

Ontario removes red tape for pension plans joining JSPPs

Ontario removes red tape for pension plans joining JSPPs

The Ontario government is eliminating the requirement of government approval for employers seeking to merge single-employer pension plans with jointly sponsored pension plans. The change, put through…

Budget’s stock options proposals could have consequences for employers

Budget’s stock options proposals could have consequences for employers

The federal government’s 2019 budget proposed changes that could affect the viability and attractiveness of stock options as a recruitment and retention tool for certain…

Industry praises budget proposals to allow variable annuities for CAP members

Industry praises budget proposals to allow variable annuities for CAP members

Multiple stakeholder groups are praising the 2019 federal budget’s proposal to amend tax rules to allow for late-life and variable annuity structures. The proposed advanced…

What do pension benefits guarantee fund changes mean for plan sponsors?

What do pension benefits guarantee fund changes mean for plan sponsors?

Alongside recent reforms to funding rules for Ontario-registered defined benefit pension plans, the Ontario government also made changes to the pension benefits guarantee fund, including improvements…

  • March 26, 2019 September 13, 2019
  • 08:30
Budget proposals for retirement security get mixed reviews from ACPM

Budget proposals for retirement security get mixed reviews from ACPM

The Association of Canadian Pension Management has mixed feelings about the federal government’s proposed methods for enhancing retirement security in the wake of the high-profile Sears Canada…

Budget 2019: More proposals that could affect plan sponsors

The 2019 federal budget offered several proposals to help working Canadians, ranging from new leave provisions to tax benefit adjustments. A potential new leave provision is aimed at…

  • By: Staff
  • March 20, 2019 December 3, 2020
  • 14:45
Budget 2019: Proposed changes to pension legislation, annuities, CPP

Budget 2019: Proposed changes to pension legislation, annuities, CPP

In its 2019 budget on Tuesday, the federal government announced a number of proposals regarding pension protections, off the back of recent high-profile corporate bankruptcies that have thrown…