Nova Scotia’s Financial Measures Act, tabled today, will include legislation to change the governance of the province’s largest public sector pension plan and the Nova Scotia Pension Agency.
Ontario’s minority government released its budget for the 2012-2013 fiscal year yesterday. The budget announces a number of measures that are expected to have a significant effect on pension plans and retirement saving—particularly in the public sector—if the budget is passed by the Ontario legislature.
In the provincial budget tabled yesterday, the Ontario government stated that it has several concerns with the federal model of pooled registered pension plans (PRPPs) as currently proposed, including the worry that PRPPs may simply replace one form of retirement coverage, rather than expanding retirement income savings.
In August 2006, President George W. Bush signed the Pension Protection Act (PPA) into law. For Douglas Fisher, senior vice-president of benefit policy development and thought leadership, workplace investing, with Fidelity Investments, it was a proud moment.
In the wake of the recent financial crisis, the Dodd-Frank Wall Street Reform and Consumer Protection Act was signed into law in July 2010.
Pension standards legislation in Canada allows an employer to act as the administrator of its single employer pension plan. However, as a plan administrator, an employer must remember two points: do no harm and take no advantage, says Randy Bauslaugh, a partner in the Pensions, Benefits & Executive Compensation Group with McCarthy Tétrault, LLP.
There’s a growing pessimism settling over the Canadian pension landscape, according to a recent survey by Towers Watson.
The National Pensioners and Senior Citizens Federation (NPSCF) has taken to Ottawa today to lobby Members of Parliament for better pension coverage and support for seniors, saying that Canada’s retirement security is “under attack.”
With the federal government introducing pooled registered pension plans, the future of pensions is top of mind for plan sponsors, providers and each of the provinces. Where is pension reform at across Canada?
Dec. 2, 2010 P.E.I. government introduces Bill 30, Pension Benefits Act, the province’s proposed provincial pension standards legislation. Jessica Bullock is in the pension and employee benefits group with Blake, Cassels & Graydon LLP.