Latest news in Governance/legislation

The pension industry’s wish list for tax reform

The pension industry’s wish list for tax reform

Over the past 25 years, Canada’s retirement system has evolved significantly through new funding frameworks and federal and provincial reforms to facilitate innovation in plan…

Ontario’s proposed DB funding rules lack solvency reserve accounts: PIAC

Ontario’s proposed DB funding rules lack solvency reserve accounts: PIAC

The Pension Investment Association of Canada is calling out Ontario’s proposed defined benefit solvency funding framework for its lack of solvency reserve account structures, a model that exists…

  • By: Staff
  • March 14, 2018 September 13, 2019
  • 08:30

Western University to share insight on long-standing DC plan at Benefits and Pension Summit

Providing a defined contribution pension to employees since 1969, Western University is in a unique position to share how the landscape for these plans has evolved over time and…

Budget commits to consultations on pension security issues in wake of Sears

Budget commits to consultations on pension security issues in wake of Sears

Referring to Sears Canada Inc.’s recent pension issues, the government announced in its 2018 budget it would seek feedback from pensioners, employees and companies in the coming months…

Actuarial analysis required for Ontario’s proposed PBGF changes: CIA

Actuarial analysis required for Ontario’s proposed PBGF changes: CIA

The Canadian Institute of Actuaries is urging Ontario to take an actuarial approach to its proposed changes for the pension benefits guarantee fund. The province has proposed increasing…

  • By: Staff
  • February 23, 2018 September 13, 2019
  • 16:15
Expand CPP replacement rate, create universal pharmacare, urges alternative federal budget

Expand CPP replacement rate, create universal pharmacare, urges alternative federal budget

Expand the Canada Pension Plan replacement rate to 50 per cent of earnings. Cap annual contributions to registered retirement savings plans at $22,000. Establish a public…

  • By: Staff
  • February 22, 2018 September 13, 2019
  • 16:56
CPP reform to result in fewer jobs until late 2020s: report

CPP reform to result in fewer jobs until late 2020s: report

The Canada Pension Plan enhancement will cost 64,000 jobs by the time it’s fully in effect, according to a new analysis from the Canadian Federation…

  • By: Staff
  • February 21, 2018 September 13, 2019
  • 16:00

Get to know Australia’s superannuation plans at the 2018 Benefits and Pension Summit

With a mature system of defined contribution pension plans, Australia offers some lessons for how Canada’s industry may evolve.  At Benefits Canada’s upcoming Benefits and Pension…

Actuaries respond to Ontario’s proposed funding rules for DB plans

Actuaries respond to Ontario’s proposed funding rules for DB plans

The Canadian Institute of Actuaries has responded to Ontario’s description of its proposed funding rules for defined benefit plans. While the provincial government’s document, published in December 2017, included details…

  • By: Staff
  • February 15, 2018 September 13, 2019
  • 16:45
LiUNA pension fund suing banks over alleged rigging of currency markets

LiUNA pension fund suing banks over alleged rigging of currency markets

The Laborers’ International Union of North America pension plan is suing a number of financial institutions for allegedly conspiring to fix prices within the foreign exchange market. The…

Have your say: Is it time to address dividend payments amid pension deficits?

Have your say: Is it time to address dividend payments amid pension deficits?

A group of Sears Canada Inc. pensioners will ask the Ontario Superior Court of Justice on Thursday to appoint a litigation trustee to review certain actions leading up to…

  • By: Staff
  • February 12, 2018 September 13, 2019
  • 16:00
McCarthy Tétrault names new partner in pension, benefits group

McCarthy Tétrault names new partner in pension, benefits group

Deron Waldock has joined McCarthy Tétrault LLP as a partner in its national pension, benefits and compensation group, working out of the firm’s Toronto office.…

  • By: Staff
  • February 9, 2018 September 13, 2019
  • 09:04
Buy-ins and boomerangs: A look at the trends in Canada’s annuity market

Buy-ins and boomerangs: A look at the trends in Canada’s annuity market

When Loblaw Companies Ltd. purchased annuities to reduce the risk in its defined benefit pension plans in January 2017, the $350-million, inflation-linked buyout kicked off…

Sears, Wabush cases put deemed-trust provision back in spotlight

Sears, Wabush cases put deemed-trust provision back in spotlight

The ongoing Sears Canada Inc. and Wabush Mines restructurings illustrate that there’s perhaps nothing as vexing in insolvency situations as the position that pension deficits…

CMHC pension saga ends with $7M settlement for former employees

CMHC pension saga ends with $7M settlement for former employees

After 18 years of litigation, a settlement has delivered $7 million to former employees of the Canada Mortgage and Housing Corp. involved in two class…

2018 to be a significant year for pension reform in Ontario

2018 to be a significant year for pension reform in Ontario

While 2017 was a relatively uneventful year in terms of legislative changes affecting pension plans, 2018 promises to be more significant, at least for many defined benefit…

  • January 23, 2018 September 13, 2019
  • 08:30
Manitoba Liberals, union concerned with direction of province’s pension proposals

Manitoba Liberals, union concerned with direction of province’s pension proposals

Manitoba’s Liberal Party is concerned about a number of pension plan design changes put forth by the province’s Conservative government in a public review earlier this…

Take advantage of current plan health by de-risking now, sponsors urged

Take advantage of current plan health by de-risking now, sponsors urged

Whether plan sponsors expect a bear or a bull market in 2018, if they’re in a position to de-risk their pension plan, they should do…

Pension plans navigating a world of ‘stable instability’

Pension plans navigating a world of ‘stable instability’

With several reasons for both optimism and pessimism about the economy this year, the world appears to be in a state of “stable instability,” an…

  • By: Glenn Kauth
  • January 18, 2018 September 13, 2019
  • 10:27
Annuities, funding policies among Quebec pension changes

Annuities, funding policies among Quebec pension changes

Plan sponsors and administrators finally have guidance on Quebec’s supplemental pension plan legislation, two years after initial amendments on Jan. 1, 2016. The regulations, which came into…

Actuaries weigh in on solvency funding, target-benefit plans in N.S. pension consultation

Actuaries weigh in on solvency funding, target-benefit plans in N.S. pension consultation

The Canadian Institute of Actuaries has responded to Nova Scotia’s consultation on a new defined benefit pension funding framework, including how a target-benefit funding model could…

  • By: Staff
  • January 11, 2018 September 13, 2019
  • 16:15
Manitoba pension consultations to consider target-benefit, shared-risk plans

Manitoba pension consultations to consider target-benefit, shared-risk plans

The Pension Commission of Manitoba has raised the possibility of allowing for shared-risk plans as the province announces consultations on pension reforms ahead of planned…

  • By: Staff
  • January 11, 2018 September 13, 2019
  • 10:32
Plan sponsors to consider new mortality improvement scale

Plan sponsors to consider new mortality improvement scale

The Canadian Institute of Actuaries has published a new mortality improvement scale as part of an effort to better reflect Canadians’ increased longevity and harmonize actuarial work in…

Automatic OAS enrolment to include GIS benefits

Automatic OAS enrolment to include GIS benefits

The government is introducing automatic enrolment for the guaranteed income supplement benefit beginning this month. The automatic enrolment means that, each month, up to 17,000…

  • By: Staff
  • January 9, 2018 September 13, 2019
  • 16:05
Financial disparity unresolved under new lifelong pensions, say veterans associations

Financial disparity unresolved under new lifelong pensions, say veterans associations

Organizations representing Canada’s veterans say the government’s announcement of the long-awaited lifelong disability pensions has failed to live up to the Liberal’s election promise. Veterans…

  • By: Staff
  • January 5, 2018 September 13, 2019
  • 16:45