The Association of Canadian Pension Management is calling for increased clarity regarding Ontario’s rules for the valuation and division of pension payments following a marriage breakdown. In response to a consultation by the Financial Services Regulatory Authority of Ontario, the ACPM recommended the draft guidance document include an example of an exception to the rule […]
The Financial Services Regulatory Authority of Ontario is issuing leading practices for the province’s defined benefit multi-employer pension plans, in the areas of governance, risk management and communication. In the area of governance, these practices include establishing a comprehensive orientation policy to onboard new trustees to ensure they begin their term prepared to carry out their duty. […]
Canada’s multi-employer pension plans are facing a wide range of challenges, from funding requirements to future growth, according to a recent webinar hosted by the Association of Canadian Pension Management. The group benefits and pensions division of Newfoundland & Labrador Municipal Employee Benefits Inc. is currently seeking a renewal of its solvency-funding exemption from the […]
Canada’s pension system was ranked first overall among 15 countries in the Global Pension Transparency Benchmark. It ranked Canadian funds first in governance, citing the “global reputation for superior performance and governance excellence” of Canada’s five largest funds, namely the British Columbia Investment Management Corp., the Caisse de depot et placement du Québec, the Canada […]
The Alberta Teachers’ Association says it’s taking legal action against a ministerial order enacted on several pension plans in the province in late December. In a press release, the association said its provincial executive council voted unanimously this week to file a lawsuit, acting on legal advice that identified an avenue for a challenge to […]
The Pension Investment Association of Canada is calling on the federal government to reform pension solvency rules while supporting legislation to introduce solvency reserve accounts and variable-payment life annuities. In response to a federal consultation paper, the PIAC said while it supports temporary relief measures amid the current economic climate, it cautioned against an approval […]
Alberta’s public sector pension plans are reassuring members their pensions are safe, following a recent ministerial order enacted by the provincial government. The order was enacted in late December by Alberta Finance Minister Travis Toews after 2020 deadlines for investment management agreements between the pensions and the Alberta Investment Management Corp. passed with no result. […]
The Alberta Investment Management Corp. is now managing investments for several pensions in the province, a move facing at least one legal challenge. This change is part of a ministerial order that Alberta Finance Minister Travis Toews enacted upon several Alberta-based pensions in late December, after 2020 deadlines for investment management agreements between the pensions […]
Ontario’s pension plan administrators and plan members share the responsibility of maintaining current contact information, according to the Financial Services Regulatory Authority of Ontario’s final guidance on missing plan members. It recommended administrators maintain a records management system and retention schedules that support long-term administration of the pension plan and to exercise care and diligence […]
A new advisory board tasked with creating a benchmark for transparency throughout global pension investment systems will include two Canadian members. The board was jointly established by Top1000funds.com and CEM Benchmarking Inc. to foster more transparency in pension investments, with the aim of improving outcomes for plan members. According to a press release, the benchmark ratings will examine […]