The Association of Canadian Pension Management is urging Retraite Québec to provide additional flexibility in the funding of municipal and university defined benefit pension plans. In an open letter, the ACPM requested flexibility to fund up to 100 per cent of amortization payments from the reserve, noting this change would allow for better management of financial risks […]
The Association of Canadian Pension Management is urging Retraite Québec to streamline its approach to actuarial solvency valuations for pension plans with members outside of the province. In an open letter, the ACPM requested the regulator either reconsiders its position on actuarial solvency valuations or grant exemptions to allow only one valuation to be carried […]
McCarthy Tétrault LLP is appointing Susan Nickerson as partner and head of its pensions, benefits and executive compensation group. Prior to joining McCarthy Tétrault, she was a partner in Torys LLP’s pension and employee benefits law division for nearly 10 years. She’s also a past chair of the Association of Canadian Pension Management and its […]
The Association of Canadian Pension Management is urging the Financial Services Regulatory Authority of Ontario to apply a best practices approach for the pension sector in its information technology risk management guidance. In an open letter to the FSRA, the ACPM said a real-time reporting framework for material IT risk incidents could result in a […]
The Association of Canadian Pension Management is encouraging the Canadian Association of Pension Supervisory Authorities to prioritize decumulation in its draft 2023-2026 strategic plan. In an open letter to the CAPSA, the ACPM recommended the strategic plan address all potential decumulation income sources beyond defined contribution pension assets, noting that, while a focus on these […]
A bill that would give super-priority to defined benefit pension plan members during plan windups and insolvencies is likely to be passed by the senate because the pension sector hasn’t provided viable alternatives, says Mike Powell, president of the Canadian Federation of Pensioners. On Feb. 8, 2023, Powell delivered a presentation in support of Bill […]
An article on the potential impacts of Alberta withdrawing from the Canada Pension Plan was the most-read story on BenefitsCanada.com over the last week. Here are the five most popular news stories of the week: 1. Employers raising concerns over Alberta leaving CPP, but expert says move could yield benefits for workers 2. Co-operators acquiring Smart Employee Benefits […]
The Association of Canadian Pension Management’s top priority in 2023 is convincing Canada’s senate to amend or block the passage of Bill C-228, according to Ric Marrero, the association’s president and chief executive officer. “Our first priority is to keep monitoring Bill C-228, which is now in the senate. Our members think it would cause […]
For some Canadians, the term pension may still conjure images of a secure stash of money guaranteed to ensure a comfortable lifestyle in retirement. I should know — until joining Benefits Canada in 2020, I counted myself among this group. Defined benefit pension plans — the epitome of the image described above — still exist, but […]
As the University Pension Plan increases its focus on climate change, its responsible investment policy considers environmental, social and governance factors as essential to sound long-term investing. “We’ve seen a lot of evidence from a variety of service providers — from investment banks to investment managers — that have demonstrated [the climate] is getting warmer […]