Measuring happiness has a role to play in determining the success of retirement solutions and their outcomes, according to a new global survey by State Street Global Advisors. The survey focused on the individual qualitative characteristics of trust, preparedness and ownership associated with certain countries’ retirement systems, exploring how happiness can be pertinent to overall perceptions […]
Alberta Premier Rachel Notley says the NDP government will introduce new pension legislation soon after the legislature resumes Monday. Speaking to the United Nurses of Alberta, Notley said the previous government didn’t fight for working people. She reminded nurses about Bill 9 and Bill 10 — proposed legislation that attempted to change public sector pension plans. Read: Assets in […]
The government of British Columbia is kicking off a conversation on reforming the province’s solvency funding rules in an effort to encourage private sector companies to continue to offer defined benefit pension plans. The consultation, which is open to the public, look to discuss a number of technical reforms that could improve predictability for plan sponsors and enable […]
Tension between pension adequacy and sustainability is growing across the world, according to the annual Melbourne Mercer Global Pension Index. The Netherlands and Denmark have the best global pension systems, with scores of 80.3 and 80.2, respectively, and both achieving A grades. They scored highly on adequacy and sustainability, while other European countries, such as Austria, […]
The Canadian Association of Retired Persons is calling out the federal government, saying it’s unfair the pensions of Sears Holding Corp.’s American employees will be protected by the U.S.’s Pension Benefit Guaranty Corp. while Canadian employees will see benefits cuts. The Canadian operation has been under court-ordered liquidation since June 2017, and Ontario’s superintendent of financial services ordered […]
Ontario’s pension regulatory landscape has seen a number of recent changes, with many of these affecting defined contribution plan sponsors, according to one expert. Speaking at the 2018 Defined Contribution Investment Forum in Toronto in September, Mark Eagles, senior manager for pension policy at the Financial Services Commission of Ontario, took delegates through the changes. The […]
The Financial Services Commission of Ontario is in the process of updating its surplus policies. Once released, the updated policies will be posted for consultation, with the public invited to submit comments by Nov. 12, 2018. The policies outline the FSCO’s expectations regarding applications for the payment of a surplus to employers, plan members, former members, […]
Seven major pension stakeholders are urging the federal government to make longevity risk-pooling arrangements available to Canadians. The group includes the Association of Canadian Pension Management, the Canadian Life and Health Insurance Association, the Canadian Institute of Actuaries, the Canadian Association of Retired Persons, Common Wealth, the National Institute of Aging and the Pension Investment Association […]
The Association of Canadian Pension Management is weighing in on the Canadian Association of Pension Supervisory Authorities’ consultation on its defined contribution pension plan guideline. In a letter to the CAPSA, the association said it’s concerned about the requirements related to decision-making tools and requiring plan administrators to provide annual estimates of member account values […]
The Canadian Alliance of Nuclear Workers is calling on the federal government to allow employees to remain members of the public service defined benefit pension plan. While several nuclear facilities were formerly crown corporations, they underwent a transition to become government-owned, contractor-operated entities beginning in 2014. As a part of the change, employees at Canadian Nuclear Laboratories […]