As policy-makers across the country implement pension reform and address priorities, we wanted to highlight a few of the recent reforms impacting private sector registered pension plans that, in our view, are positive steps, warranting consideration in other jurisdictions.
DB plan sponsors in Alberta (and soon British Columbia) should carefully consider taking advantage of recent and forthcoming) legislation in those provinces permitting them to establish solvency reserve accounts (SRAs) as an effective way of funding their plans and avoiding the much dreaded “trapped capital” concerns that have often undermined plan security over the last several decades.
The Government of Ontario has introduced legislation to create the Ontario Retirement Pension Plan and pooled registered pension plans.
The Ontario Retirement Pension Plan is scheduled to be implemented in about two years, yet there are still many questions about the plan that remain unanswered.
Quebec's National Assembly passed a bill into law on Thursday that will reform the province's municipal pensions.
The Government of Ontario is asking both employers and employees for feedback on the proposed Ontario Retirement Pension Plan.
Members of the National Assembly (MNAs) in Quebec will soon have to contribute more to their pensions.
Despite having been available for decades, target benefit plans will continue to be resisted by federally regulated employers unless a legal flaw is fixed, according to a report.
Nova Scotians will soon have a new option to save for their retirement.
Last Friday, the federal government released the next round of proposed amendments to the Pension Benefits Standards Regulations, which will change or enact new provisions regarding plan investments, DC pension plans, and disclosure to plan members.