Keyword: pension funding

464 results found

An article on how British Columbia’s amended definition of provision for adverse deviation will impact the province’s target-benefit pension plans was the most-read story on BenefitsCanada.com over the last week. Here are the five most popular news stories of the week: 1. B.C.’s amended PfAD to provide more flexibility to target-benefit pension plans: experts 2. BNP Paribas expanding […]

  • By: Staff
  • January 27, 2023 January 26, 2023
  • 09:00
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British Columbia’s amended definition of provision for adverse deviation will provide additional flexibility to the province’s target-benefit pension plans, according to experts. The changes to the PfAD’s definition lowers the minimum funding requirement to 7.5 per cent and allows a supplementary percentage identified by the target-benefit plan administrator or board as appropriate to achieve the […]

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British Columbia is amending the definition of provision for adverse deviation for pension plans in the province with a target-benefit provision. The changes to PfAD’s definition, which will come into effect on Dec. 31, 2022, reflects recommendations from the B.C. Financial Services Authority to the Ministry of Finance. The amendments will lower the minimum funding […]

  • By: Staff
  • October 17, 2022 October 17, 2022
  • 09:00
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Four of British Columbia’s public sector pension plans are educating trustees with a new plan-specific curriculum. The curriculum — a collaboration between the College Pension Plan, the Municipal Pension Plan, the Public Service Pension Plan and the Teachers’ Pension Plan — was developed in response to a lack of plan-specific information provided in external education […]

As the move away from traditional defined benefit plans continues and intensifies, Canada’s multi-employer pension plans are providing employers with another retirement savings option for their employees. And despite facing a number of challenges, from industries in decline to legislative obstacles, MEPPs continue to attract plan sponsors from across the country. Read: Canadian MEPPs facing challenges […]

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Despite a recommendation made by the four Atlantic provinces in 2016, a review of the Atlantic Lottery Corp.’s underfunded defined benefit pension plan has yet to be completed, according to a new report by the region’s auditors general. According to the report, the pension plan has swallowed up $87 million in potential profit in order […]

After navigating the unpredictable markets of the past two decades, some defined benefit pension plan sponsors could be forgiven for wanting to seek out some certainty. But a new threat has emerged in the form of rapidly rising inflation and the possibility of rate increases after decades of persistent lows. The consumer price index increased […]

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Five years after Ontario’s auditor general uncovered an issue with the way the province was including pension assets in its financial statements, the office is proposing changes related to accounting in defined benefit pension plans. The auditor general’s 2016 annual report revealed a deficit of $5 billion, while the province’s government set the deficit at […]

  • By: Staff
  • December 3, 2021 December 13, 2021
  • 15:00
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The Financial Services Regulatory Authority of Ontario is releasing final interpretation guidance to support the role and responsibilities of pension plan administrators. The guidance, an updated and consolidated version of four previous documents, said the administrator’s role includes responsibility for implementing processes to ensure pension plan risks — such as investment, funding, operational and legal — […]

  • By: Staff
  • July 30, 2021 July 29, 2021
  • 09:00

While solvency funding relief helped Canada’s pension funds withstand the turbulence of 2020, a long-term vision with an eye to a more robust funding framework would offer better support, according to pensions experts. Responding to the crisis, the federal government launched a consultation last fall on measures to alleviate pension solvency funding requirements for defined […]