OSFI – Benefits Canada.com

How will growing anti-ESG sentiment in the U.S. impact Canadian institutional investors?

bwolfe — Fri, 12 Apr 2024 12:56:50 +0000

A growing wave of opposition to environmental, social and governance factors has turned life in the sustainable finance industry into something of a roller coaster over the last couple of years. But a little turbulence is to be expected, says Alyson Slater, managing director of sustainable investment at Manulife Investment Management, encouraging institutional investors to […]

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Sounding Board: How pension IT risk management guidance will impact plan sponsors

bwolfe — Thu, 29 Feb 2024 14:00:09 +0000

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 […]

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Expert panel: Risk management, target-benefit framework among themes shaping pension industry in 2024

bwolfe — Tue, 16 Jan 2024 14:00:02 +0000

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 […]

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BCFSA’s climate risk guidelines could create burden on smaller pension plans, says PIAC

bmcgovern — Thu, 14 Dec 2023 14:00:37 +0000

The Pension Investment Association of Canada is calling on the B.C. Financial Services Authority to reconsider implementing new standards for climate-related risks analysis guidelines, noting it would be extremely challenging for most pension plans to meet a potential new climate and transition risk review system. In an open letter, the PIAC recommended a principles-based approach to […]

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Removal of ‘30% rule’ could boost investment, reduce private equity fees for Canadian pension funds

bmcgovern — Thu, 23 Nov 2023 16:00:40 +0000

If the federal government scraps its rule restricting Canadian pension funds from holding more than 30 per cent of the voting shares of investee corporations, pension plan sponsors and other investment organizations could increase their holdings in high-performing assets, have greater oversight and accountability of their assets and see a decrease in fees for private equity, according […]

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Feds consider end of ‘30% rule’ for pensions, propose EI adoption benefit: fall economic statement

bwolfe — Wed, 22 Nov 2023 14:00:47 +0000

In its 2023 fall economic statement, the federal government said it will consider removing the rule that restricts Canadian pension funds from holding more than 30 per cent of the voting shares of most corporations. The move is part of an effort “to create an environment that encourages and identifies more opportunities for investments in […]

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OSFI’s draft pension cybersecurity standard may lead to duplication, increased risk: ACPM

lbailey — Thu, 09 Nov 2023 14:00:59 +0000

The Office of the Superintendent of Financial Institutions’ proposed cybersecurity incident reporting standard could unintentionally lead to duplication and increased risk if it doesn’t reflect differences in technology and risks faced by federally regulated financial institutions and federally regulated pension plans, according to the Association of Canadian Pension Management. While financial institutions’ systems are critical to the functioning of […]

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Climate, cybersecurity risks increasing for federally regulated pension plans: OSFI outlook

bmcgovern — Thu, 19 Oct 2023 15:00:03 +0000

Climate and cybersecurity are the leading risk factors concerning Canadian pension plan administrators, according to a pension lawyer. Susan G. Seller, a pension and benefits lawyer at Bennett Jones LLP, adds third-party arrangements and commercial real estate risks round out the most pressing categories for federally regulated pension plans. “We’re living in a time where […]

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How will crypto disclosure rules impact federally regulated pension plans?

bwolfe — Thu, 20 Apr 2023 13:00:58 +0000

In its 2023 budget, the federal government announced plans to require that federally regulated pension plan sponsors disclose their cryptocurrency asset exposure to the Office of the Superintendent of Financial Institutions. The government has yet to announce how the pension disclosure requirements will be implemented. “Just how these guidelines will affect standards of governance or regulatory […]

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What’s in the federal budget for DB pension plans, institutional investors?

Gideon Scanlon — Thu, 30 Mar 2023 16:00:20 +0000

The 2023 federal budget, which was announced on Tuesday, includes several initiatives related to defined benefit pension plans and the broader institutional investment sector. The government said it would entrust the administration of a new federal investment fund to the Public Sector Pension Investment Board. “By partnering with PSP Investments, the Canada Growth Fund will […]

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