ALDA – Benefits Canada.com

High inflation supercharging decumulation challenges

bwolfe — Fri, 10 Feb 2023 13:55:25 +0000

Finance’s toughest problem just got a whole lot trickier, thanks to the quandary of inflation. Legendary economist William F. Sharpe sealed his place in history when he collected the 1990 Nobel Memorial Prize in Economic Sciences for his work on investment decision-making, but in defined contribution pension circles, the emeritus professor at Stanford University is […]

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My Take: Tackling decumulation today will lead to retirement-ready workers tomorrow

bwolfe — Wed, 04 Jan 2023 14:00:36 +0000

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 […]

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Saskatchewan amending pension legislation to include more decumulation options, solvency reserve funds

bwolfe — Mon, 28 Nov 2022 20:00:47 +0000

The Saskatchewan government is introducing amendments to its pension legislation that provide additional flexibility for plan sponsors and introduce new decumulation options for members of defined contribution plans. The bill, which passed first reading in provincial parliament last week, includes provisions for DC plan sponsors to offer advanced life deferred annuities and variable payment lifetime […]

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CIA supporting going-concern plus regime, auto features in Alberta’s private sector pensions

bwolfe — Mon, 07 Nov 2022 14:00:53 +0000

The Canadian Institute of Actuaries is supporting several of the Alberta government’s proposed legislative and policy updates for private sector pension laws, including the move towards a going-concern plus regime for defined benefit plans and the introduction of automatic features in defined contribution plans. In its response to the consultation draft, the CIA cited the benefits […]

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Report urges DC pension plan sponsors to focus on decumulation

bwolfe — Tue, 25 Oct 2022 19:00:49 +0000

Capital accumulation plan sponsors need to focus on providing lifetime retirement income for plan members amid the growth of decumulation solutions such as advanced life deferred annuities and variable payment lifetime annuities, according to a new report by the C.D. Howe Institute. It noted DC plan members currently have three main options to draw down […]

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Amendments to bankruptcy, insolvency legislation could disincentivize DB pension plan sponsors, say ACPM, PIAC

bwolfe — Thu, 29 Sep 2022 13:00:21 +0000

The Association of Canadian Pension Management and the Pension Investment Association of Canada are among the organizations saying proposed amendments to the federal Bankruptcy and Insolvency Act could negatively impact defined benefit pension plans. In an open letter to the House of Commons standing committee on finance, the ACPM and the PIAC — along with […]

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