Manulife Financial is the first Canadian company to be issued a license to administer federal pooled registered pension plans.
Ari Kaplan wrote the book on pension law. Literally. His book, Pension Law, was first published in 2006, and a second edition, co-authored with Mitch Frazer of Torys LLP, is due out this fall. When Kaplan started out as an associate at Koskie Minsky LLP, there wasn’t a lot of reference material on pension law from an academic or resource perspective. He did his master’s degree in law shortly after joining the firm, focusing on pension administration and regulation. “From that, I thought I had the kernel of an outline of a book.”
The head of the Ordre des CPA du Québec told the province’s Committee on Public Finance can’t continue ignoring the flaws in the current retirement income protection system.
Quebec’s special consultation into the D’Amours report on pension reform has revealed fading support for a number of its key proposals.
A federal court in the United States has turned down an appeal by former executives at General Motors over cuts to their pension.
If you haven’t told your plan members about Carrigan v. Carrigan Estate, you’re not alone. Not only did the original decision catch the industry off-guard, a recent interpretation of the decision by the Financial Services Commission of Ontario has left plan sponsors with more questions than answers.
Up to the late-19th century, everyone provided for his or her own retirement either by saving or by using “The Waltons method” of having large families, who would take over the farm and run it when you got too old to do it yourself. It was only in the 20th century that old-age provision was deemed to be a government/employer issue and the people’s personal savings were to top this up for a luxury retirement of cruises and wintering in Florida.
The Canadian Labour Congress says it’s time for the provincial and territorial premiers to ask the federal government to expand the Canada Pension Plan.
The United Kingdom Supreme Court says that Nortel and Lehman Brothers pension plan members should be treated the same as other unsecured creditors of the bankrupt companies.
San Jose is defending itself in court this week over its proposed pension reforms.