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Tips for meeting CAPSA’s pension governance guidelines: Part III

The first two parts of this series explored the first 10 principles of the Canadian Association of Pension Supervisory Authorities’ guidelines on pension governance. As a principles-based framework, the guidelines lay out what to strive for, leaving the how up to plan administrators. The final instalment in this series looks at the 11th principle, which recommends that […]

CAPSA must clarify sections on fees in DC guidelines: ACPM

The Association of Canadian Pension Management is weighing in on the Canadian Association of Pension Supervisory Authorities’ consultation on its defined contribution pension plan guideline. In a letter to the CAPSA, the association said it’s concerned about the requirements related to decision-making tools and requiring plan administrators to provide annual estimates of member account values […]

  • By: Staff
  • October 3, 2018 September 13, 2019
  • 15:00

While the Canadian Life and Health Insurance Association generally supports the Canadian Association of Pension Supervisory Authorities’ proposed guideline on defined contribution pension plans, certain areas require further clarification. “We recognize that some service providers may require substantial lead time to enhance administrative systems to incorporate functionality, such as capturing and reporting indirect fees, that may not currently exist,” […]

  • By: Staff
  • September 12, 2018 September 13, 2019
  • 09:00
PIAC reasserts unclaimed balance regime as solution to missing pension members

The Pension Investment Association of Canada has submitted its comments on the federal government’s unclaimed pension balances framework, noting the solution to the problem is the establishment of public sector agencies with a mandate to receive the balances. The letter noted unclaimed balances are a major and growing problem for federally-regulated pension plans. While there has […]

  • By: Staff
  • August 17, 2018 September 13, 2019
  • 16:00

The Canadian Association of Pension Supervisory Authorities’ latest consultation is seeking feedback on amendments to its guideline No. 8 for defined contribution pension plans, focusing on considerations around decumulation, such as communicating variable benefits, assumptions used in retirement projections and fee disclosure. When it comes to withdrawals from a variable benefits plan, according to the amended guideline, plan administrators […]

  • By: Staff
  • August 7, 2018 September 13, 2019
  • 09:00
Tips for meeting CAPSA’s pension governance guidelines: Part II

This series of articles examines some actionable ideas to help plan administrators meet the Canadian Association of Pension Supervisory Authorities’ guideline No. 4. Following on from the previous article, which looked at the first five principles of this guideline, this one will cover the next five principles around pension governance. Principle 6: Governance information The sixth principle recommends that […]

Draft CAPSA guidance offers limited help with missing plan members

The Canadian Association of Pension Supervisory Authorities has published draft guidance for plan administrators and third-party consultants to help them search for missing pension members. The task of locating members and beneficiaries has often placed a significant burden on pension plan administrators. They can’t complete plan windups (including partial terminations) until they’ve distributed all pension […]

  • June 26, 2018 September 13, 2019
  • 08:00
The shifting landscape for variable benefits from DC plans

There has been a lot of talk about variable benefits from defined contribution pension plans recently. Ontario has changes in the works to allow them, while a number of provinces have moved on the issue in recent years. And while it’s not yet common for plan sponsors to offer variable benefits, some organizations have had the […]

Tips for meeting CAPSA’s pension governance guidelines

For any pension plan administrator looking for guidance around governance responsibilities, look no further than the Canadian Association of Pension Supervisory Authorities’ guideline No. 4. The guideline, which was originally published in 2004, offers a principles-based approach, recognizing there’s no one-size-fits-all solution to governance and leaving implementation up to the plan administrator. The guideline and its accompanying […]

Regulators turning their attention to DC plan rules

The Ontario government’s announcement in its April budget that it will be addressing the regulatory framework related to defined contribution pension plans has done little to quell the debate about whether modernization and expansion of the existing rules is necessary or desirable. Those in favour say that, as defined contribution plans continue to grow in […]