Latest news in Governance/legislation

Canada ahead of U.S. in regulating ESG investments but more required: report

Broad support for regulating environmental, social and governance-themed investments in Canada has left the U.S. Securities and Exchange Commission playing catch-up with its northern neighbour,…

Conservatives promise gig workers access to CPP, EI; Liberals look to raise GIS, lower retirement age

The Conservative Party is promising to create tax-free savings accounts that provide gig workers with access to the Canada Pension Plan and employment insurance benefits. While…

July consumer price index hits 3.7 per cent: StatCan

Canada’s consumer price index rose by more than half a per cent in July, reaching 3.7 per cent on a year-over-year basis, according to Statistics…

  • By: Staff
  • August 26, 2021 August 26, 2021
  • 11:00
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Conservatives, NDP pension promises include super-priority for members

As part of the federal Conservative Party’s platform for the coming election, Leader Erin O’Toole is proposing a plan to secure pensions for Canadian workers.…

  • By: Staff
  • August 25, 2021 August 25, 2021
  • 09:00
NL’s College of Physicians and Surgeons latest employer to join DBplus pension

NL Supreme Court rules for pension member super-priority for normal costs in bankruptcies

Pension plan members have super-priority when it comes to normal costs but not to special costs owed to bankrupted plans, the Supreme Court of Newfoundland…

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FSRA seeking input on draft guidance for communication of pension enforcement actions

The Financial Services Regulatory Authority of Ontario is seeking feedback on proposed guidance detailing how and when it publishes information about enforcement proceedings and investigations,…

  • By: Staff
  • August 13, 2021 August 12, 2021
  • 09:05

Court of appeal decision highlights importance of clear pension communications

A recent Saskatchewan Court of Appeal decision illustrates the importance of clear communications from pension administrators seeking to avoid liability from lawsuits by claimants alleging…

Caisse, CPPIB not addressing scale of climate crisis in investments: think tank

The Caisse de Dépôt et Placement du Québec and the Canadian Pension Plan Investment Board’s investments “do not reflect the action needed to address the scale…

NL’s College of Physicians and Surgeons latest employer to join DBplus pension

Newfoundland and Labrador granting MEPPs permanent solvency funding exemption

The government of Newfoundland and Labrador is amending funding rules for the province’s multi-employer pension plans. The amendments include a permanent exemption from solvency funding…

OPTrust naming Ingrid Chingcuanco as VP of pension administration transformation

The OPSEU Pension Trust is appointing Ingrid Chingcuanco as its vice-president of pension administration transformation. In the new role, she’ll be responsible for leading the…

  • By: Staff
  • August 10, 2021 August 10, 2021
  • 13:30
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CLHIA calling for increased access to VPLAs, prescription drugs

The Canadian Life and Health Insurance Association is calling on the federal government to permit standalone variable payment life annuities to pool participants from all…

  • By: Staff
  • August 9, 2021 August 9, 2021
  • 15:00

CIA updating guidance for pension windup, solvency valuations

The Canadian Institute of Actuaries is updating its process for releasing guidance regarding assumptions for hypothetical pension windup and solvency valuations. For quarterly guidance relating…

  • By: Staff
  • August 5, 2021 August 5, 2021
  • 09:00
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CAPSA developing multi-jurisdictional VPLA framework for DC pension plans

The Canadian Association of Pension Supervisory Authorities is developing a framework for defined contribution pension plans to offer variable payment life annuities. In developing the…

  • By: Staff
  • August 4, 2021 August 3, 2021
  • 09:00
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Canada’s pension plan sponsors prioritizing governance, but more work to be done: survey

While the majority of Canadian pension and retirement savings plan sponsors view governance as a top priority, 24 per cent said they haven’t conducted a…

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FSRA issuing guidance on pension plan administrator responsibilities

The Financial Services Regulatory Authority of Ontario is releasing final interpretation guidance to support the role and responsibilities of pension plan administrators. The guidance, an updated…

  • By: Staff
  • July 30, 2021 July 29, 2021
  • 09:00

Investors have role in advancing reconciliation with Indigenous peoples, says report

Institutional investors have a role to play in reconciling Canada with Indigenous people, says a new report by the Reconciliation and Responsible Investment Initiative. “With…

CFA’s ESG standards could facilitate greenwashing, warns IFIC

The Chartered Financial Analyst Institute’s draft voluntary environmental, social and governance disclosure standards are vulnerable to greenwashing, warns the Investment Funds Institute of Canada. In…

Expert panel: How plan sponsors can help make retirement, pensions more equitable

Diversity, equity and inclusion is top of mind for many plan sponsors these days. And, while issues around retirement and pensions likely aren’t the key focus…

ESG investing and human rights: “Ignorance is no longer an excuse”

It’s a welcome development that so many pension fund managers are increasingly preoccupied with the ethical implications of their investments and incorporating data to ensure…

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New stock option rules raising questions for employers, says consultant

Canada’s new employee stock option tax rules are raising a number of questions for employers, says David Crawford, a partner at Hugessen Consulting Inc. The…

2021 Top 100 Pension Funds Report: DB plans shining bright amid pandemic clouds

If there was a Hall of Fame for catastrophic years, 2020 would be a certainty for admission, with Canada among many nations around the globe…

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Transfer of assets to N.B.’s unclaimed property program could reduce burden on pension plans

The Association for Canadian Pension Management is urging New Brunswick’s Financial and Consumer Services Commission to ensure unclaimed entitlements from ongoing pension plans are eligible…

  • By: Staff
  • June 23, 2021 June 23, 2021
  • 15:00
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PIAC warns of ‘unintended consequences’ of pension super-priority bill

There could be “unintended consequences” if a bill conferring preferred creditor status to defined benefit pension plan members during bankruptcies passes through Canada’s House of Commons,…

  • By: Staff
  • June 23, 2021 June 24, 2021
  • 13:00
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BCI, CPPIB and OTPP investments tied to human rights abuses in China, finds watchdog

A report from the U.K.-based watchdog group Hong Kong Watch is criticizing three major Canadian pension funds for investing in Chinese businesses involved in human rights…