Whether it’s battling the challenges of plan maturity, increasing longevity, the changing nature of work or difficult financial markets, these so-called golden handcuffs are looking pretty dented in some cases. But the 10 years following the great financial crisis wasn’t all bad. Many public pension plans, as well as affiliated administrators and investment managers, have […]
For defined contribution plan members who were intending to retire in the first half of 2020, the market crash caused by the coronavirus may have upended those plans. Markets reached a trough in March, followed by some recovery, but with little clarity on what investments will do next, it’s a challenging time for plan members […]
A retiree faces a 50 per cent probability of receiving more income by delaying Canada Pension Plan payments, according to a new report by the Canadian Institute of Actuaries and the Society of Actuaries. The report, authored by Bonnie-Jeanne MacDonald, director of financial security research at Ryerson University’s National Institute on Ageing, investigated the financial […]
The Ontario Municipal Employees Retirement System is appointing Ingrid Chingcuanco as vice-president of pension operations. She joined the OMERS nearly eight years ago as director of pension policy. In that role, she provided pension policy and project leadership for several initiatives, such as public sector divestments affecting the pension fund and enhancements to its additional […]
In a letter to the Canada Revenue Agency’s registered plans directorate, the Association of Canadian Pension Management said a new draft bulletin only covers a concern attached to smaller pension plans and shouldn’t apply to larger, employer-sponsored plans. The ACPM said it recognizes the agency’s efforts in providing guidance on apportioning assets and actuarial liabilities in actuarial valuation reports for […]
Quebec has published new draft regulations aimed at helping the administrators of supplemental pension plans to navigate the coronavirus pandemic. The proposed regulations would allow plan members to maintain their active membership in a supplemental plan even if they’re experiencing a temporary suspension in accruing benefits, as long as that suspension began in 2020 and doesn’t last longer than […]
The Association of Canadian Pension Management is calling on the Ontario government to consider amending the Employment Standards Act and the Pension Benefits Act to allow for auto-enrolment and auto-escalation features in capital accumulation plans. Specifically, it’s suggesting the government allow employers to automatically deduct employee contributions from payroll to facilitate these features. “The shift […]
The Association of Canadian Pension Management is calling on the Ontario government to consider amending the Employment Standards Act and the Pension Benefits Act to allow for auto-enrolment and auto-escalation features in capital accumulation plans. Specifically, it would like the government to allow employers to automatically deduct employee contributions from payroll to facilitate these features. […]
When Canadian taxpayers are on the hook for public sector pension plan obligations, these institutions must spell that out clearly in their financial reporting, according to a new paper by the C.D. Howe Institute. “Reporting of pension costs as they accrue and net obligations at a point in time is tricky,” wrote William Robson, the organization’s chief […]
While the Pension Investment Association of Canada strongly supports Nova Scotia’s recent pension funding changes, it’s calling on the provincial government to tweak the provision for adverse deviation calculation and access to solvency reserve accounts. Nova Scotia’s pension funding changes took effect on April 1, reducing solvency funding to 85 per cent, with any shortfalls required to be […]