Though Trish McAuliffe didn’t know much about pension benefits at the time, they were at the heart of one of her earliest working memories. In the 1980s, McAuliffe was a new employee at General Motors of Canada Co., putting together automobile interiors, when she dutifully joined the picket line during an eruption of labour strife […]
Though Trish McAuliffe didn’t know much about pension benefits at the time, they were at the heart of one of her earliest working memories. In the 1980s, McAuliffe was a new employee at General Motors of Canada Co., putting together automobile interiors, when she dutifully joined the picket line during an eruption of labour strife […]
The Association of Canadian Pension Management has mixed feelings about the federal government’s proposed methods for enhancing retirement security in the wake of the high-profile Sears Canada Inc. bankruptcy last year. During an ACPM webinar last week, Todd Saulnier, the chair of ACPM’s national policy committee and a principal at Mercer, said some of the federal government’s options […]
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 plan deficits. The decision, Guarantee Company of North America v. Royal Bank of Canada, released in January, is a construction lien case that makes no mention of pensions. But the […]
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 answer is probably no. In the first stage of enhancement, employee and employer contribution rates will rise from 4.95 per cent each to 5.95 per cent each, for a total […]
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, according to the Canadian Institute of Actuaries. “Fulfilling pension promises is especially important for those plan members who can least afford the risk of benefit reductions, such as those with […]
As the Canadian cannabis industry blazes a path of growth in the run-up to October’s legalization, so does the number of related publicly listed stocks trading on North America’s largest indexes. Getting in on the action, some of Canada’s public pension funds are starting to look for exposure to cannabis companies, according to a report […]
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 to determine options to better address retirement security for Canadians. “All Canadians deserve more peace of mind when it comes to their retirement and companies must act in good faith towards […]
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 occupy in the pecking order of creditor priorities. Indeed, many observers cite the issues over the status of the deemed trust that most provinces’ legislation imposes on pension deficits as […]
Nortel Networks Corp., Stelco Inc., Sears Canada Inc. These are just a few of the many bankruptcy or restructuring cases that have catapulted the financial state of company pension plans into the spotlight. But while the attention generally focuses on protecting the company’s employees and retirees, it’s important to remember that there are a number […]