Latest news in Governance/legislation

Pension communication errors can lead to surprise costs for plan sponsors

Pension communication errors can lead to surprise costs for plan sponsors

Pension plan sponsors can save money by ensuring their plan texts and other communications materials are free of mistakes, says Mitch Frazer, a partner and the chair…

Sears DB members facing bleak payout prospects as company reduced to ‘shell of itself’

Sears DB members facing bleak payout prospects as company reduced to ‘shell of itself’

Sears Canada Inc. pension plan members are facing bleak prospects for getting their full pension payouts, according to a Toronto bankruptcy lawyer. “They won’t be…

The shifting landscape for variable benefits from DC plans

The shifting landscape for variable benefits from DC plans

There has been a lot of talk about variable benefits from defined contribution pension plans recently. Ontario has changes in the works to allow them, while…

Top 40 Money Managers: Charting the course through choppy waters

Top 40 Money Managers: Charting the course through choppy waters

Despite significant improvements recently to pension plan solvency levels, the start of 2018 has been a challenging one for institutional investors. Shifting monetary policies have…

Ontario passes budget measures amending pension, PRPP acts

Ontario passes budget measures amending pension, PRPP acts

The Ontario government passed its 2018 budget measures on Tuesday, including amendments to the Pension Benefits Act and the Pooled Registered Pension Plans Act. The amendments…

  • By: Staff
  • May 8, 2018 September 13, 2019
  • 16:30
A look at Sears’ U.S. pension prospects as Canadian windup ordered

A look at Sears’ U.S. pension prospects as Canadian windup ordered

Whatever the fate of Sears Holdings Corp.’s operations in the United States, the company’s American pensioners are likely to emerge better off than their Canadian…

Incorrect pension accounting significantly understates Ontario deficits: auditor general

Incorrect pension accounting significantly understates Ontario deficits: auditor general

As Ontarians prepare for the upcoming provincial election campaign, the province’s auditor general is raising the stakes in her dispute with the government about its…

  • By: Staff
  • April 26, 2018 September 13, 2019
  • 09:49
Ontario annuity discharge changes coming July 1

Ontario annuity discharge changes coming July 1

As of July 1, 2018, new provisions under Ontario’s Pension Benefits Act will allow the sponsors of defined benefit pension plans to obtain a discharge…

  • By: Staff
  • April 25, 2018 September 13, 2019
  • 13:00
Time to extend public sector pension expertise to other plans

Time to extend public sector pension expertise to other plans

For more than 30 years, Canada’s public sector pension organizations have distinguished themselves by delivering secure, sustainable defined benefit pensions and, in the process, have earned…

  • April 24, 2018 September 13, 2019
  • 08:30
PIAC warns of ‘unintended consequences’ of Quebec’s proposed disparity rules

PIAC warns of ‘unintended consequences’ of Quebec’s proposed disparity rules

Quebec’s move to eliminate so-called disparities in pension plans will have unintended consequences, according to the Pension Investment Association of Canada. “In particular, we think that…

  • By: Staff
  • April 20, 2018 September 13, 2019
  • 09:00
Canada’s DC industry thriving despite constant need to tinker

Canada’s DC industry thriving despite constant need to tinker

While Canada’s defined contribution pension industry faces many challenges, the continuous improvement of offerings from service providers is one of the things that’s working, according to Western…

  • By: Ryan Murphy
  • April 18, 2018 September 13, 2019
  • 10:30
Just 17% of employers starting plans for CPP, QPP changes

Just 17% of employers starting plans for CPP, QPP changes

Most Canadian employers have yet to take action to prepare for the incoming changes to the Canada Pension Plan and Quebec Pension Plan, according to…

  • By: Staff
  • April 18, 2018 September 13, 2019
  • 09:45
Why aren’t Canada’s public sector pension plans integrating enhanced CPP?

Why aren’t Canada’s public sector pension plans integrating enhanced CPP?

The first phase in implementing the Canada Pension Plan enhancement is looming large. Employee and employer contribution rates will start to increase in 2019 and…

Public pensions stressing corporate governance, board diversity as key issues for 2018

Public pensions stressing corporate governance, board diversity as key issues for 2018

The Alberta Investment Management Corp. is emphasizing the business case for increased female participation on corporate boards. In its response to a request for comment on the…

  • By: Staff
  • April 13, 2018 September 13, 2019
  • 15:00
Editorial: An interesting tax mechanism to boost DC outcomes

Editorial: An interesting tax mechanism to boost DC outcomes

At Benefits Canada’s Defined Contribution Plan Summit in Montreal in February, member engagement and communication were a clear focus of many of the presentations. Case…

  • By: Glenn Kauth
  • April 13, 2018 September 13, 2019
  • 09:00

Plan sponsor tools for closing the pension generation gap

When it comes to the difficult issue of equity in pension plans, Quebec has been at the forefront recently with its plan to table a…

Ontario’s new pension regulator appoints inaugural CEO

Ontario’s new pension regulator appoints inaugural CEO

Ontario’s new pension regulator, the Financial Services Regulatory Authority, has appointed Mark White as its inaugural chief executive officer, effective May 7, 2018. White is currently…

  • By: Staff
  • April 11, 2018 September 13, 2019
  • 16:11
Tips for meeting CAPSA’s pension governance guidelines

Tips for meeting CAPSA’s pension governance guidelines

For any pension plan administrator looking for guidance around governance responsibilities, look no further than the Canadian Association of Pension Supervisory Authorities’ guideline No. 4. The…

Ontario proposes rules for target benefits in multi-employer plans

Ontario proposes rules for target benefits in multi-employer plans

The Ontario government has published proposed regulations relating to the funding framework for certain multi-employer pension plans seeking to convert defined benefits to target benefits.…

  • By: Staff
  • April 9, 2018 September 13, 2019
  • 11:11
Stelco pension plans reach 85% funded status after $142M boost

Stelco pension plans reach 85% funded status after $142M boost

Stelco Inc’s owner paid $142 million into the company’s pension plans at the end of March, bringing them to a funded status of 85 per cent…

  • By: Staff
  • April 4, 2018 September 13, 2019
  • 10:25
Have your say: Are new sick day entitlements a concern for employers?

Have your say: Are new sick day entitlements a concern for employers?

Following in the footsteps of other Canadian provinces, Quebec has introduced a bill to amend its labour laws that includes changes to sick leave entitlements. Currently, employees…

  • By: Ryan Murphy
  • April 2, 2018 September 13, 2019
  • 16:15
OSFI publishes guidance on default investment options in DC pension plans

OSFI publishes guidance on default investment options in DC pension plans

The Office of the Superintendent of Financial Institutions has published guidance on its interpretation and expectations for the default investment option selected by the administrator…

  • By: Staff
  • April 2, 2018 September 13, 2019
  • 09:00
Pension and benefits highlights of the Ontario budget

Pension and benefits highlights of the Ontario budget

On Wednesday, Ontario Finance Minister Charles Sousa unveiled his 2018 budget ahead of the upcoming provincial election. Benefits Canada has narrowed down the key budget items that…

  • By: Staff
  • March 29, 2018 September 13, 2019
  • 09:57
Disclosable event regime, Sears measures among pension changes in Ontario budget

Disclosable event regime, Sears measures among pension changes in Ontario budget

As part of its 2018 budget, the Ontario government unveiled a proposal to make its changes to the pension benefits guarantee fund apply retroactively to plans with a…

Unique pension arrangement at heart of Carleton University labour dispute

Unique pension arrangement at heart of Carleton University labour dispute

The dispute over pension rights at Carleton University heated up this week as the Canadian Union of Public Employees called on the Financial Services Commission of…