Latest news in Governance/legislation

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
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Ontario’s DB pension plans should take steps to maintain strong funded status: FSRA

With Ontario’s defined benefit pension plans in their best financial shape since 2009, the Financial Services Regulatory Authority of Ontario is advising plan sponsors and…

AIMCo, BCI to divest Russian holdings

In response to the ongoing conflict between Russia and Ukraine, the Alberta Investment Management Corp. and the British Columbia Investment Management Corp. are divesting from…

  • By: Staff
  • March 1, 2022 March 3, 2022
  • 15:30
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Canadian pension plans overcoming legislation, governance challenges: webinar

Representatives from a few of Canada’s most progressive pension plans weighed in on topics ranging from plan design to the various challenges posed by legislation…

  • By: Blake Wolfe
  • February 28, 2022 February 28, 2022
  • 09:00
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CAPSA establishes committee to develop risk management guidelines for pension plans

The Canadian Association of Pension Supervisory Authorities is establishing a new committee with a mandate to develop a risk management guideline for pension plans. The…

  • By: Staff
  • February 18, 2022 February 18, 2022
  • 15:00
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Equities, inflation, legislative changes push annuity transaction volume to record highs

The strength of equities was among the factors pushing the transaction volume of Canada’s group annuities market to a record high in 2021, according to…

Majority of Ontario’s DB pension plans more than fully funded: report

The average Ontario defined benefit pension plan is in the best funded position since December 2009, according to the Financial Services Regulatory Authority of Ontario’s…

  • By: Staff
  • February 17, 2022 February 17, 2022
  • 12:00

FSRA opens consultation on proposed pension benefits guarantee fund guidance

The Financial Services Regulatory Authority of Ontario is consulting on proposed pension benefits guarantee fund assessment deadlines and calculations guidance, which is designed to assist plan administrators…

  • By: Staff
  • February 17, 2022 February 16, 2022
  • 09:00

Bruce Power using asset-liability studies, rebalancing to protect pension fund

As a nuclear power provider, Bruce Power’s culture emphasizes the importance of risk-averseness. This is reflected in the company’s efforts to secure the indexed benefits…

Anglican Church’s pension members joining multi-employer plan

A thousand members of the Anglican Church of Canada’s defined contribution pension plan are joining the General Synod pension plan, effective Jan. 1, 2022. The…

  • By: Staff
  • February 10, 2022 February 9, 2022
  • 09:00

U.S. Virgin Islands refinancing bonds in bid to save public pension system

The governor of the U.S. Virgin Islands is refinancing more than US$800 million worth of bonds following numerous attempts to save a public pension system that…

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OSFI, FSRA set out six recommendations for strengthening CAP guidelines

The Office of the Superintendent of Financial Institutions and the Financial Services Regulatory Authority of Ontario are putting forward six recommendations for strengthening the Canadian Association…

  • By: Staff
  • February 9, 2022 February 8, 2022
  • 09:00