For most of the decade since I joined Benefits Canada, it feels like the pension industry has been moving at a snail’s pace. Don’t get me wrong — I have witnessed many substantial (dare I say, exciting) developments in the industry, each one touted as a potential solution to Canadians’ retirement readiness concerns and increasingly […]
The benefits of artificial intelligence go hand in hand with the many risks, but the pension industry’s requirements around fiduciary responsibility and governance, as well as privacy concerns, add an important layer to these considerations. Genevieve Hayman, senior affiliate researcher in research, advocacy and standards, the CFA Institute Many artificial intelligence risks — which include […]
A group of former municipal police officers who were recruited by the Ontario Provincial Police have launched multi-million-dollar lawsuits against the Ontario Municipal Employees Retirement System and the Ontario Pension Board over alleged losses suffered during their pension transfers. As part of their moves to the OPP from various municipal police forces — including the […]
The U.S. Supreme Court has unanimously decided in favour of former Cornell University employees who accused the university of violating the Employee Retirement Income Security Act in its handling of fees related to its 403(b) retirement plans. According to the lawsuit, which was originally filed in 2016, former employees who were enrolled in two of […]
An article on a survey that found four in 10 employees have taken mental-health leave was the most-read story on BenefitsCanada.com this past week. Here are the top five human resources, benefits, pension and investment stories of the last week: 1. Survey finds four in 10 employees have taken mental-health leave 2. Investment volatility increasing […]
Benefits Canada celebrated the Defined Contribution Plan Summit’s 25th anniversary by looking at how the world has changed over the last quarter century, the subsequent impact on the pension sector and what’s next for DC pensions. On Feb. 26-28 in Montreal, the 2025 DC Plan Summit highlighted the lessons of the last several decades, putting […]
While good governance practices must be at the core of any pension plan, intricate frameworks are designed to be proportional to the size of the sponsoring organization, according to Leah Fichter, vice-chair at the Canadian Association of Pension Supervisory Authorities and deputy superintendent of pensions and executive director of the pensions division at the Financial […]
In the early days of Bell Canada’s defined contribution plan, there was a lot of emphasis on information and big campaigns, but at that time, employers were reluctant to get too involved, according to Robert Marchessault, the telecommunications company’s director of pension and benefits, noting it was soon clear its members needed more guidance. Speaking […]
Increased investment volatility could trigger additional questions on the decisions of Canadian pension funds as governance reviews come into focus, says Level Chan, a partner in the pensions practice at Stewart McKelvey. “Where there’s greater volatility, we could expect that triggering more questions about how pension plans are weathering the storm.” When responding to additional […]
More than eight in 10 (84 per cent) U.S.-based employer-sponsored retirement plans have at least one likely Employee Retirement Income Security Act red flag from a regulatory and/or fiduciary perspective, according to a new report by consultancy Abernathy Daley 401k Consultants. The report, which analyzed filings for more than 760,000 plans, found 43 per cent […]