pension governance – Benefits Canada.com https://www.benefitscanada.com Canada's most influential pension and benefits publication for decision-makers Fri, 03 May 2024 21:03:19 +0000 en-US hourly 1 https://wordpress.org/?v=4.9.8 Ontario court sides with IBM in pension benefits rectification case https://www.benefitscanada.com/pensions/governance-law/ontario-court-sides-with-ibm-in-pension-benefits-rectification-case/ Wed, 24 Apr 2024 13:00:25 +0000 https://www.benefitscanada.com/?p=154599 An Ontario Superior Court ruling that allowed IBM Canada Ltd. to retrospectively rectify drafting errors that created unintended additional pension benefits for employees on disability leave augurs well for plan sponsors seeking similar relief going forward. “The case clarifies that there is a specific test for rectification of pension plans and other unilateral instruments, which […]

The post Ontario court sides with IBM in pension benefits rectification case appeared first on Benefits Canada.com.

]]> FSRA focusing on target-benefit framework for MEPPs, sustainability of PBGF in 2024-25 annual plan https://www.benefitscanada.com/pensions/governance-law/fsra-focusing-on-target-benefit-framework-for-mepps-sustainability-of-pbgf-in-2024-25-annual-plan/ Wed, 17 Apr 2024 13:00:25 +0000 https://www.benefitscanada.com/?p=154330 In its 2024-25 annual plan, the Financial Services Regulatory Authority of Ontario is focusing on assessing and mitigating systemic and high-priority risks in the province’s defined benefit pension plan sector. The regulatory body will review and enhance its supervisory framework to strengthen supervision of large public sector pension plans, ensuring its plan amendments and surplus […]

The post FSRA focusing on target-benefit framework for MEPPs, sustainability of PBGF in 2024-25 annual plan appeared first on Benefits Canada.com.

]]> More than £50 billion in U.K. pension benefits at risk of being lost, misplaced: study https://www.benefitscanada.com/pensions/retirement/more-than-50-billion-in-u-k-pension-benefits-at-risk-of-being-lost-misplaced-study/ Mon, 25 Mar 2024 19:00:11 +0000 https://www.benefitscanada.com/?p=153577 More than £50 billion in U.K. pension benefits were at risk of being misplaced in abandoned accounts or scattered across multiple lost pots in 2023, according to a study by the Centre for Economics and Business Research on behalf of PensionBee Ltd. It noted at least 4.8 million U.K. pension pots were considered lost in 2023, […]

The post More than £50 billion in U.K. pension benefits at risk of being lost, misplaced: study appeared first on Benefits Canada.com.

]]> Clear, flexible regulations needed for target-benefit plans: report https://www.benefitscanada.com/pensions/governance-law/clear-flexible-regulations-needed-for-target-benefit-plans-report/ Tue, 19 Mar 2024 13:00:06 +0000 https://www.benefitscanada.com/?p=153230 Clear and flexible regulations that reflect the nature and diversity of target-benefit plans would allow these plans to thrive, according to a new report from the C.D. Howe Institute. The report analyzed data collected from 29 target-benefit plans registered in British Columbia, which was the first province to implement these plans. Read: Report finds disconnect […]

The post Clear, flexible regulations needed for target-benefit plans: report appeared first on Benefits Canada.com.

]]> FSRA outlines risk model to avoid pension plan investment turmoil, risks https://www.benefitscanada.com/pensions/governance-law/fsra-outlines-risk-model-to-avoid-pension-plan-investment-turmoil-risks/ Thu, 07 Mar 2024 14:00:06 +0000 https://www.benefitscanada.com/?p=152791 The Financial Services Regulatory Authority of Ontario is implementing a framework with core principals to help defined benefit pension plans avoid inappropriate risk-modelling strategies, said James Hoffner, the organization’s chief pension risk officer, during a conference on Monday. “Pension plans aren’t banks, they’re not commercial enterprises that are going to go out of business. We’re not going […]

The post FSRA outlines risk model to avoid pension plan investment turmoil, risks appeared first on Benefits Canada.com.

]]> Sounding Board: How pension IT risk management guidance will impact plan sponsors https://www.benefitscanada.com/pensions/governance-law/sounding-board-how-pension-it-risk-management-guidance-will-impact-plan-sponsors/ Thu, 29 Feb 2024 14:00:09 +0000 https://www.benefitscanada.com/?p=152486 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 post Sounding Board: How pension IT risk management guidance will impact plan sponsors appeared first on Benefits Canada.com.

]]> Top 5 HR, benefits, pensions and investment stories of the week https://www.benefitscanada.com/news/bencan/top-5-hr-benefits-pensions-and-investment-stories-of-the-week/ Fri, 09 Feb 2024 14:00:22 +0000 https://www.benefitscanada.com/?p=151793 An article on the Ontario Court of Appeal’s affirmation of a $1.5 million punitive damages award was the most-read article on BenefitsCanada.com this week. Here are the top five human resources, benefits, pensions and investment articles of the past week: 1. Court of Appeal upholds $1.5 million punitive damages award in LTD claims case 2. N.B. transferring 5 public […]

The post Top 5 HR, benefits, pensions and investment stories of the week appeared first on Benefits Canada.com.

]]> ACPM focusing on VPLA policy, ESG investment standards in 2024 https://www.benefitscanada.com/pensions/governance-law/acpm-focusing-on-vpla-policy-esg-investment-standards-in-2024/ Wed, 31 Jan 2024 14:00:23 +0000 https://www.benefitscanada.com/?p=150020 In the coming year, the Association of Canadian Pension Management is looking forward to the possibility of participating in final consultations on policies and legislation determining variable payment life annuities, says Todd Saulnier, a principal at Mercer and president of the ACPM board. The 2023 federal budget proposed amendments to the Pension Benefits Standards Act, 1985 […]

The post ACPM focusing on VPLA policy, ESG investment standards in 2024 appeared first on Benefits Canada.com.

]]> Just 22% of Albertans support CPP withdrawal, creation of provincial pension plan: survey https://www.benefitscanada.com/pensions/governance-law/just-22-of-albertans-support-cpp-withdrawal-creation-of-provincial-pension-plan-survey/ Tue, 30 Jan 2024 14:00:38 +0000 https://www.benefitscanada.com/?p=151281 Just a fifth (22 per cent) of Albertans say they support the province’s plan to leave the Canada Pension Plan in favour of a provincial plan, down from 27 per cent last October, according to a new survey by Leger Marketing Inc. The survey, which polled more than 1,000 Albertans, found while 40 per cent […]

The post Just 22% of Albertans support CPP withdrawal, creation of provincial pension plan: survey appeared first on Benefits Canada.com.

]]> Top 5 HR, benefits, pension and investment stories of the week https://www.benefitscanada.com/news/bencan/top-5-hr-benefits-pension-and-investment-stories-of-the-week-70/ Fri, 26 Jan 2024 14:00:29 +0000 https://www.benefitscanada.com/?p=151186 An article on the funded position of Canadian defined benefit pension plans was the most-read story on BenefitsCanada.com. Here are the five top HR, benefit, pension and investment stories of the week: 1. Average DB pension plan’s funded position on solvency basis up in November: report 2. Decision raises questions about dependent contractors’ entitlement to reasonable notice […]

The post Top 5 HR, benefits, pension and investment stories of the week appeared first on Benefits Canada.com.

]]>