Latest news in Governance/legislation

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…

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…

Pension deficits, dividend payments among topics in new government consultation

Pension deficits, dividend payments among topics in new government consultation

The federal government is asking Canadians to weigh in on a consultation paper that tackles issues related to pension underfunding and bankruptcy and insolvency laws.…

A primer on the incoming CPP/QPP enhancements

A primer on the incoming CPP/QPP enhancements

In 2016, the Government of Canada reached an agreement with the provinces that provides for significant enhancements to the Canada Pension Plan, with an announcement of…

  • November 27, 2018 September 13, 2019
  • 08:00
Feds launch consultations on enhancing retirement security of Canadians

Feds launch consultations on enhancing retirement security of Canadians

The federal government is launching national consultations on enhancing the retirement security of Canadians, including potential actions on pension regulations and bankruptcy and insolvency laws.  Previously…

  • By: Staff
  • November 23, 2018 September 13, 2019
  • 09:20
Considerations for employers around the incoming CPP enhancements

Considerations for employers around the incoming CPP enhancements

With just about a month to go until the federal government’s long-awaited Canada Pension Plan enhancements kick in on Jan. 1, 2019, Scott Perkin is…

Development, communications of CPP changes inadequate: CLC

Development, communications of CPP changes inadequate: CLC

The proposed financial sustainability provisions of the enhanced Canada Pension Plan destabilize Canadians’ understanding and expectation of the CPP, and create challenges around communicating the…

  • By: Staff
  • November 21, 2018 September 13, 2019
  • 15:15
CLHIA changing timeline for G19 compensation disclosure

CLHIA changing timeline for G19 compensation disclosure

After consulting with more than 500 advisors, the Canadian Life and Health Insurance Association is making a number of changes to its G19 guideline pertaining to…

  • By: Staff
  • November 21, 2018 September 13, 2019
  • 10:34
Alberta tables legislation on joint governance of public sector pensions

Alberta tables legislation on joint governance of public sector pensions

The Alberta government tabled new pension legislation Tuesday proposing a joint governance structure for three of the province’s largest pension plans —the Local Authorities Pension Plan,…

  • By: Staff
  • November 20, 2018 September 13, 2019
  • 17:00
Tips for meeting CAPSA’s pension governance guidelines: Part III

Tips for meeting CAPSA’s pension governance guidelines: Part III

The first two parts of this series explored the first 10 principles of the Canadian Association of Pension Supervisory Authorities’ guidelines on pension governance. As…

Ontario to move forward with variable benefits from DC pensions

Ontario to move forward with variable benefits from DC pensions

The Ontario government is moving forward with legislation around variable benefits from defined contribution plans, facilitating mergers into jointly sponsored pension plans and enabling the…