The Pension and Investment Association of Canada is calling on the federal government to establish a going-concern plus regime as a long-term minimum funding requirement for federally regulated defined benefit pension plans. In its pre-budget submission to Finance Canada, the PIAC said it believes the Canadian government should set a uniform funding requirement for all provinces […]
The Pension Investment Association of Canada is prioritizing the protection of employment-based pension coverage in 2023. “Our members are concerned that well-intentioned regulatory changes, such as Bill C-228, may actually diminish employers’ support for pensions,” says Graeme Hay (pictured), the PIAC’s new chair and chief investment officer at Manitoba’s Teachers’ Retirement Allowances Fund, referring to a […]
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 […]
Similar to 2022, the coming year will present both challenges and opportunities for defined benefit pension plan sponsors, with the rewards going to plan sponsors that are resilient, embrace change and are willing and able to act when opportunities arise. Several trends that will be top of mind in the year ahead are: Inflation The […]
In the Expert Commission on Pensions’ 2008 review of Ontario’s pension system, it recommended an agency or unit of the provincial government serve as a pension champion. According to the commission, the pension champion’s responsibilities would include working closely with stakeholders, promoting and facilitating innovation in the pension system and leading policy development efforts in […]
Six organizations representing Canadian retirees say proposed amendments to the federal Bankruptcy and Insolvency Act would have a positive impact on defined benefit pension plan members. In an open letter to the House of Commons standing committee on finance, the six organizations —CanAge, the Canadian Federation of Pensioners, the Canadian Network for the Prevention of […]