Latest news in Governance/legislation

Ontario appeal court decision could change pension landscape in bankruptcy proceedings

Ontario appeal court decision could change pension landscape in bankruptcy proceedings

A recent decision from the Ontario Court of Appeal could significantly change the landscape for employers and pensioners involved in bankruptcy proceedings that engage pension…

Employee groups from Ontario universities vote to form new joint pension

Employee groups from Ontario universities vote to form new joint pension

Faculty associations at three Ontario universities, as well as certain affiliated unions, have passed a preliminary vote to convert their various existing pension arrangements into a…

  • By: Staff
  • February 19, 2019 September 13, 2019
  • 08:32
Editorial: Communicating CPP enhancements and more pension action on the way

Editorial: Communicating CPP enhancements and more pension action on the way

When the Canada Pension Plan enhancement took effect on Jan. 1, 2019, did you feel the pinch in your first paycheque of the year? The…

Are DC plan sponsors actually interested in variable benefits?

Are DC plan sponsors actually interested in variable benefits?

While defined contribution plans can currently pay variable benefits to members at retirement in British Columbia, Alberta, Saskatchewan, Manitoba, Quebec and Nova Scotia, the Ontario…

One pension pillar can’t achieve all objectives: report

One pension pillar can’t achieve all objectives: report

While the Canadian retirement income system is performing well overall, it still requires some assessment to determine its primary goals and how changing one part of…

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ACPM supports strengthened going-concern pension funding rules in B.C.

Based on the five options put forward in British Columbia’s consultation on reforming pension solvency rules, the option to replace the current requirements with enhanced…

  • By: Staff
  • February 6, 2019 January 12, 2021
  • 09:30
Flexible annuity options, drug reform on CLHIA’s budget wish list

Flexible annuity options, drug reform on CLHIA’s budget wish list

The introduction of more flexible annuity options for capital accumulation plans and reform to prescription drug coverage are among the recommendations by the Canadian Life and Health…

  • By: Staff
  • January 31, 2019 September 13, 2019
  • 09:15
Class action lawsuit alleges miscalculation of veterans’ disability pensions

Class action lawsuit alleges miscalculation of veterans’ disability pensions

Koskie Minsky LLP launched a class action lawsuit on Friday on behalf of all veterans who were in receipt of disability pensions or disability awards between…

  • By: Staff
  • January 28, 2019 September 13, 2019
  • 15:15
Best protection for worker, retiree pensions is strong employer: ACPM

Best protection for worker, retiree pensions is strong employer: ACPM

The Association of Canadian Pension Management is calling on the federal government to take caution in creating any new significant disincentives “that would push more corporations…

  • By: Staff
  • January 28, 2019 September 13, 2019
  • 09:00

Staff at Ontario Teachers’-owned seniors home want better pay, pension

Employees at a seniors’ residence in Hamilton, Ont., are asking the facility’s owner, the Ontario Teachers’ Pension Plan, to provide them with better pay and a…

  • By: Staff
  • January 25, 2019 January 12, 2021
  • 15:30
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How to prepare pension investments for an annuity purchase

Many defined benefit plans’ funded statuses are in relatively good territory, but with an uncertain investment atmosphere on the horizon, is now a good time…

  • By: Yaelle Gang
  • January 24, 2019 January 12, 2021
  • 09:00
Saskatchewan to adopt super-priority for deemed trusts

Saskatchewan to adopt super-priority for deemed trusts

Saskatchewan will soon be the latest jurisdiction to adopt an enhanced priority for deemed trusts created by its pension benefits legislation. The Pension Benefits Act…

SHARE calls on Feds to protect corporate pensions

SHARE calls on Feds to protect corporate pensions

The Shareholder Association for Education and Research is calling on federal policymakers to adopt measures to protect workers’ retirement savings. In a letter to the…

Feds ‘thinking outside box’ with proposal for unclaimed pension balances

Feds ‘thinking outside box’ with proposal for unclaimed pension balances

The Canadian government is “thinking outside of the box” with its proposal to extend the Bank of Canada’s program on dormant bank accounts to include unclaimed pension…

  • By: Jann Lee
  • January 18, 2019 September 13, 2019
  • 09:21
Super-priority in pension insolvencies would negatively affect retirement system: PIAC

Super-priority in pension insolvencies would negatively affect retirement system: PIAC

The Pension Investment Association of Canada isn’t supportive of providing a super-priority for unfunded pension liabilities and other post-retirement benefits in an insolvency situation. “While we…

  • By: Staff
  • January 17, 2019 September 13, 2019
  • 09:00
Overpaid workers will only pay back ‘net’ amounts under proposed new tax rules

Overpaid workers will only pay back ‘net’ amounts under proposed new tax rules

The federal government says it’s preparing to address one of the key tax issues that has caused massive headaches for government employees overpaid by its…

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Pension legislation should balance DB sustainability with pension promise: CIA

Any modifications to federal pension legislation should encourage plan sponsors to continue offering defined benefit pension plans, while helping them fulfil their pension promises to plan members,…

  • By: Jann Lee
  • January 15, 2019 January 12, 2021
  • 10:05
Sears Canada pensioners going after 2013 dividend paid to shareholders

Sears Canada pensioners going after 2013 dividend paid to shareholders

Three lawsuits were filed in December by the parties seeking the best possible outcome for former Sears Canada Inc. employees with regard to the funding deficit of their defined…

  • By: Staff
  • January 8, 2019 September 13, 2019
  • 10:59
Veterans Affairs accused of skipping consultations on Pensions for Life

Veterans Affairs accused of skipping consultations on Pensions for Life

Veterans Affairs is being accused of avoiding consultations with veterans after introducing details of its Pensions for Life program. The new pension plan, taking effect April…

A look ahead at pension legislative changes for 2019

A look ahead at pension legislative changes for 2019

While 2018 ushered in a number of significant changes to Ontario’s pension legislation, including a major revamping of the funding rules for defined benefit plans,…

  • December 28, 2018 September 13, 2019
  • 08:30
Top 10 pension and retirement stories of 2018

Top 10 pension and retirement stories of 2018

Readers were focused on the Canada Pension Plan and old-age security in 2018, with the top three most read stories tackling those topics. Benefits Canada rounds…

  • By: Staff
  • December 24, 2018 September 13, 2019
  • 09:00
Appeal court upholds ruling in RCMP pension case

Appeal court upholds ruling in RCMP pension case

The Federal Court of Appeal is upholding a ruling denying female Royal Canadian Mounted Police employees the opportunity to buy back into their pension plan after…

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Canadian taxpayers bearing risk of public DB pension plans: report

Canadian taxpayers are providing $22 billion each year to the country’s public sector pension plans by assuming undisclosed investment risks, according to a new report…

  • By: Staff
  • December 6, 2018 January 12, 2021
  • 10:48
Sears pensioners reach settlement, without priority creditor status

Sears pensioners reach settlement, without priority creditor status

Sears Canada Inc.’s pensioners reached a settlement last week after they were denied priority over the company’s other creditors. The settlement is subject to certain…

  • By: Staff
  • December 3, 2018 September 13, 2019
  • 10:38
A look at Alberta’s incoming joint pension governance structure

A look at Alberta’s incoming joint pension governance structure

Although it’s somewhat late in the making, Alberta’s new pension legislation proposing a joint governance structure for three of the province’s largest pension plans appears…