Latest news in Governance/legislation

Newfoundland MHAs’ potential move to DC pension could save $5.2M

Newfoundland MHAs’ potential move to DC pension could save $5.2M

Newly-elected members of the House of Assembly in Newfoundland and Labrador could be moved out of their defined benefit pension plan to a defined contribution…

The 5 key components of a DB pension funding regime

The 5 key components of a DB pension funding regime

The interest in pension funding rules is as great as ever, with changes taking effect in Quebec in 2016 and a review of funding rules…

  • February 24, 2017 September 13, 2019
  • 09:00
Manitoba should consider pension funding reform instead of temporary measures: PIAC

Manitoba should consider pension funding reform instead of temporary measures: PIAC

Manitoba should initiate an overall pension funding reform review similar to other provinces rather than continuing to rely on temporary solvency relief measures, according to…

  • By: Staff
  • February 23, 2017 September 13, 2019
  • 08:36
CPPIB head says China and Canada face similar pension challenges

CPPIB head says China and Canada face similar pension challenges

China sees Canada as a valuable source of expertise as both countries grapple with the needs of an aging population that’s increasingly retired, according to…

Stelco’s long battle on the pension precipice

Stelco’s long battle on the pension precipice

Like most 19-year-olds, Gary Howe didn’t pay a great deal of attention to his pension entitlements when he signed up with Stelco Inc. as an…

A primer on multi-employer pension plans

A primer on multi-employer pension plans

Forget the buzz around new target-benefit legislation. Multi-employer pension plans were here first, starting about 50 years ago. Particularly common in unionized, mobile workforces such…

A look at Quebec’s pension solvency changes one year on

A look at Quebec’s pension solvency changes one year on

More than a year after its implementation, Quebec’s shift to going-concern funding obligations for defined benefit pension plans has already led to some positive results…

Disclosure of carbon footprints ‘may be premature’ for institutional investors: PIAC

Disclosure of carbon footprints ‘may be premature’ for institutional investors: PIAC

While institutional investors want to improve transparency in climate-related financial disclosures, they face unique circumstances that would make it difficult to accurately disclose an investment…

  • By: Staff
  • February 14, 2017 September 13, 2019
  • 10:07
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Ontario can include pension surplus in financial statement: panel

The Ontario government should include surpluses from two of its jointly sponsored pension plans in its financial statements, an expert advisory panel recommended on Monday. “Simply…

Economic council suggests backtrack on retirement age

Economic council suggests backtrack on retirement age

The federal government’s advisory council on economic growth has released its second wave of recommendations that include extending the age of eligibility for the Canada Pension Plan,…

Have your say: Does medical pot ruling portend coverage changes for benefits plans?

Have your say: Does medical pot ruling portend coverage changes for benefits plans?

Last week, injured elevator technician Gordon Skinner won the right to have his medical marijuana prescription covered by his employer-sponsored plan. It’s not the first time a plan…

  • By: Staff
  • February 7, 2017 September 13, 2019
  • 09:22
Changes to Ford’s pension accounting led to $2B loss in 2016

Changes to Ford’s pension accounting led to $2B loss in 2016

Ford Motors Company has adjusted its method of accounting for pension contributions and other post-retirement employee benefits, the company noted in a filing to the…

  • By: Staff
  • February 1, 2017 September 13, 2019
  • 09:17
Have your say: Is Quebec striking the right balance with QPP reforms?

Have your say: Is Quebec striking the right balance with QPP reforms?

While reforms to the Canada Pension Plan are well underway, the debate on what to do with the Quebec Pension Plan is just getting started…

  • By: Staff
  • January 31, 2017 September 13, 2019
  • 09:16
Canadian pension plans moving slowly but surely towards DC: survey

Canadian pension plans moving slowly but surely towards DC: survey

Canadian pension plans have grown significantly over the past decade, a survey by Willis Towers Watson has found. Total pension assets were US$965 billion in…

  • By: Staff
  • January 31, 2017 September 13, 2019
  • 09:09
Sounding Board: Expansion of QPP necessary for future of Canada’s retirement system

Sounding Board: Expansion of QPP necessary for future of Canada’s retirement system

Though Canada’s retirement income system was ranked eighth among 27 countries by the 2016 Melbourne Mercer Global Index, it also revealed the weaknesses in our…

QPP reform must target middle-income earners: ACPM

QPP reform must target middle-income earners: ACPM

While the Association of Canadian Pension Management is in favour of enhancing the Quebec Pension Plan, it’s calling for a targeted solution to the problem…

  • By: Staff
  • January 27, 2017 September 13, 2019
  • 09:29
Have your say: Is it time to permit deferred annuities?

Have your say: Is it time to permit deferred annuities?

Last week, the Pension Investment Association of Canada was the latest group to lend its voice to the growing concern over the decumulation of Canadian’s…

  • By: Staff
  • January 24, 2017 September 13, 2019
  • 09:30
PIAC proposes regulatory changes to address decumulation concerns

PIAC proposes regulatory changes to address decumulation concerns

Canada’s pension and tax regulations need to be updated to address the lack of decumulation options for the growing number of Canadians nearing retirement, according…

  • By: Staff
  • January 20, 2017 September 13, 2019
  • 09:30
Solutions to managing the deluge of pension records

Solutions to managing the deluge of pension records

Pension plans, like many businesses, rely on information. While the retention of certain pension plan records is subject to regulation, decisions with respect to the…

Employer preparations for CPP reform off to slow start, survey finds

Employer preparations for CPP reform off to slow start, survey finds

Despite the federal government’s plan to move ahead with reforms to the Canada Pension Plan, a recent survey by Aon Hewitt has found only 35…

  • By: Jann Lee
  • January 16, 2017 September 13, 2019
  • 16:48
Quebec law scrapping indexation unconstitutional, unions allege

Quebec law scrapping indexation unconstitutional, unions allege

Several Quebec municipalities, including Laval and Montreal, have suspended indexation on retirees’ pension plans, effective Jan. 1, 2017. Many defined benefit pensions plans provide indexation on an…

Employers, government must step up to address decumulation dilemma

It’s a little shocking to realize that 1,100 Canadians are turning 65 every day. Of that number, about 500 will be relying on their own…

Stanley Hamilton named FICOM chair

Stanley Hamilton named FICOM chair

The Financial Institutions Commission of British Columbia has appointed Stanley Hamilton as chair of the provincial regulatory body. Hamilton, an emeritus professor at the University…

  • By: Staff
  • January 10, 2017 September 13, 2019
  • 09:22
CPP benefits rise by 1.4% in 2017

CPP benefits rise by 1.4% in 2017

The maximum monthly benefit for new Canada Pension Plan recipients has increased by $21.67 in 2017, while monthly old-age security benefits have risen by about…

  • By: Staff
  • January 5, 2017 September 13, 2019
  • 11:00
The ORPP: the ghost of 2016

The ORPP: the ghost of 2016

“The Ontario Registered Pension Plan was dead: to begin with. There is no doubt whatever about that. . . . Old ORPP was as dead…