After a two-year consultation period, the Canadian Association of Pension Supervisory Authorities released its 2024 guideline for capital accumulation plans in September. With a focus on improving plan governance and member outcomes, the 2024 guideline significantly increases compliance responsibilities for CAP sponsors. Updated regulatory guidelines are rarely shorter than their predecessors and the 2024 CAP […]
An article on how the Canadian Association of Pension Supervisory Authorities’ updated capital accumulation plan guideline will impact plan sponsors and members was the most-read story on BenefitsCanada.com this past week. Here are the top five human resources, benefits, pension and investment stories of the last week: 1. How CAPSA’s updated CAP guideline will impact plan sponsors, […]
While the Canadian Association of Pension Supervisory Authorities’ updated capital accumulation plan guideline contains several key updates with regard to plan sponsor and member responsibilities, smaller plan sponsors may face administrative challenges in applying the guidance, says Jordan Fremont, a partner at Stikeman Elliott LLP’s pensions and benefits group. “Because [the guideline] is so detailed, I […]
A culture of prudent investment standards and guideline compliance is keeping Canadian pension funds safe from some of the unique risk management cases seen abroad, says Scott McEvoy, a partner at Borden Ladner Gervais LLP. “Good governance starts at the top, it’s all about structure and process,” he says. Read: Canada’s retirement system ranks No. 12 […]
Information technology risk has become a more prevalent concern in recent years, so it comes as no surprise that Canadian pension regulators are focused on ensuring that plan administrators manage this risk effectively. IT risk is associated with an entity’s IT infrastructure as a whole, including risk caused by error or malfunction, as well as […]
The Pension Investment Association of Canada will concentrate its legislative advocacy efforts on funding reform in 2024, including for an overhaul of long-term, minimum funding regulations for federally regulated defined benefit pension plans, said David Lawson, the PIAC’s new chair. In an emailed statement to Benefits Canada, he said as DB plan sponsors continue to face […]
While it’s impossible to predict exactly how pension case law will evolve in future, one can offer an educated guess at some legislative developments and other issues that may confront pension plan sponsors and administrators in the coming year. Risk management Plan sponsors can expect a continued focus on risk management as a key part […]
With the arrival of the new year, there are three topics that will be important for pension plan sponsors, members and other industry stakeholders in 2024. The economy and financial markets At the end of 2023, the Canadian economy and the financial markets were still feeling the after-effects of the coronavirus pandemic. Read: Expert panel: […]
The Joint Forum of Financial Market Regulators is establishing a committee to help implement its total cost reporting plan. The plan aims to increase investor and policy-holders’ awareness of the ongoing costs of owning investment funds and individual segregated fund contracts. The committee, which is comprised of joint forum members and industry representatives, will provide […]
An article on the Association of Canadian Pension Management’s response to the Canadian Association of Pension Supervisory Authorities’ draft risk management guideline was the most-read story on BenefitsCanada.com over the last week. Here are the five most popular news stories of the week: 1. CAPSA pension risk management guideline too divergent, says ACPM 2. B.C. Municipal Pension Plan appointing […]