pension plan administration – Benefits Canada.com https://www.benefitscanada.com Canada's most influential pension and benefits publication for decision-makers Fri, 17 May 2024 19:40:42 +0000 en-US hourly 1 https://wordpress.org/?v=4.9.8 Association of Professors of the University of Ottawa, Ontario Confederation of University Faculty Associations joining UPP https://www.benefitscanada.com/pensions/defined-benefit-pensions/association-of-professors-of-the-university-of-ottawa-ontario-confederation-of-university-faculty-associations-joining-upp/ Thu, 16 May 2024 13:00:58 +0000 https://www.benefitscanada.com/?p=155566 The Association of Professors of the University of Ottawa and the Ontario Confederation of University Faculty Associations are joining the University Pension Plan, as of April 30, 2024. Since its inception in July 2021, the UPP has seen a number of plan sponsors join the plan, beginning with the University of Toronto Faculty Association, the University of […]

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]]> FSRA focusing on target-benefit framework for MEPPs, sustainability of PBGF in 2024-25 annual plan https://www.benefitscanada.com/pensions/governance-law/fsra-focusing-on-target-benefit-framework-for-mepps-sustainability-of-pbgf-in-2024-25-annual-plan/ Wed, 17 Apr 2024 13:00:25 +0000 https://www.benefitscanada.com/?p=154330 In its 2024-25 annual plan, the Financial Services Regulatory Authority of Ontario is focusing on assessing and mitigating systemic and high-priority risks in the province’s defined benefit pension plan sector. The regulatory body will review and enhance its supervisory framework to strengthen supervision of large public sector pension plans, ensuring its plan amendments and surplus […]

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]]> FSRA’s proposed guidance on retroactive adverse amendments inconsistent with case law, Pension Benefits Act: ACPM https://www.benefitscanada.com/pensions/governance-law/fsras-proposed-guidance-on-retroactive-adverse-amendments-inconsistent-with-case-law-pensions-benefits-act-acpm/ Mon, 05 Feb 2024 14:00:12 +0000 https://www.benefitscanada.com/?p=151552 The Financial Services Regulatory Authority of Ontario’s revised proposed guidance on retroactive adverse amendments for pension plan administrators is inconsistent with existing case law, the wording of the Pension Benefits Act and the principles of statutory interpretation, said the Association of Canadian Pension Management, in an open letter. The FSRA’s proposed guidelines aim to provide greater […]

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]]> OSFI’s draft pension cybersecurity standard may lead to duplication, increased risk: ACPM https://www.benefitscanada.com/pensions/governance-law/osfis-draft-pension-cybersecurity-standard-may-lead-to-duplication-increased-risk-acpm/ Thu, 09 Nov 2023 14:00:59 +0000 https://www.benefitscanada.com/?p=146759 The Office of the Superintendent of Financial Institutions’ proposed cybersecurity incident reporting standard could unintentionally lead to duplication and increased risk if it doesn’t reflect differences in technology and risks faced by federally regulated financial institutions and federally regulated pension plans, according to the Association of Canadian Pension Management. While financial institutions’ systems are critical to the functioning of […]

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]]> Ontario’s guidance for target-benefit MEPPs undermines incentives for plan sponsors: ACPM https://www.benefitscanada.com/pensions/governance-law/ontarios-guidance-for-target-benefit-mepps-undermines-incentives-for-plan-sponsors-acpm/ Mon, 30 Oct 2023 13:00:48 +0000 https://www.benefitscanada.com/?p=146047 The Ontario Ministry of Finance’s proposed guidance for multi-employer target-benefit pension plans undermines incentives for employers to contribute towards their employees’ retirement savings, including cost certainty, with unduly burdensome regulatory framework, according to the Association of Canadian Pension Management. In an open letter, the ACPM expressed its hesitation about proposed rules restraining trustees’ ability to prudently […]

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]]> Climate, cybersecurity risks increasing for federally regulated pension plans: OSFI outlook https://www.benefitscanada.com/news/cir-news-news/climate-cybersecurity-risks-increasing-for-federally-regulated-pension-plans-osfi-outlook/ Thu, 19 Oct 2023 15:00:03 +0000 https://www.benefitscanada.com/?p=145548 Climate and cybersecurity are the leading risk factors concerning Canadian pension plan administrators, according to a pension lawyer. Susan G. Seller, a pension and benefits lawyer at Bennett Jones LLP, adds third-party arrangements and commercial real estate risks round out the most pressing categories for federally regulated pension plans. “We’re living in a time where […]

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]]> FSRA pension plan administration guidance requires clarity, consistency, says ACPM https://www.benefitscanada.com/pensions/governance-law/fsra-pension-plan-administration-guidance-requires-clarity-consistency-says-acpm/ Thu, 12 Oct 2023 13:00:59 +0000 https://www.benefitscanada.com/?p=145153 The Financial Services Regulatory Authority of Ontario’s proposed guidance on pension plan administrator roles and responsibilities requires more clarity and consistency, according to the Association of Canadian Pension Management. In an open letter, the ACPM recommended greater clarity regarding the distinction between statutory guidance and general commentary, particularly in the sections on records retention and […]

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]]> CAPSA’s risk management guideline adaptable to changes in cybersecurity, ESG: webinar https://www.benefitscanada.com/pensions/governance-law/capsas-risk-management-guideline-adaptable-to-changes-in-cybersecurity-esg-webinar/ Mon, 11 Sep 2023 13:00:32 +0000 https://www.benefitscanada.com/?p=143197 The Canadian Association of Pension Supervisory Authorities’ new risk management guideline allows for additional flexibility amid evolving issues such as cybersecurity and environmental, social and governance considerations, said David Bartucci, head of pension regulations and regulatory effectiveness at the Financial Services Regulatory Authority of Ontario and a member of the CAPSA’s risk management committee, during […]

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]]> Top 5 HR, benefits, pension and investment stories of the week https://www.benefitscanada.com/news/bencan/top-5-hr-benefits-pension-and-investment-stories-of-the-week-47/ Fri, 11 Aug 2023 13:00:59 +0000 https://www.benefitscanada.com/?p=142071 An article on how Yellow Corp.’s bankruptcy will impact Canadian workers’ pensions was the most-read story on BenefitsCanada.com over the last week. Here are the five most popular news stories of the week: 1. Yellow bankruptcy will have little impact on Canadian workers’ pensions: union 2. FSRA appoints Andrew Fung as EVP of pensions 3. Wildfires crystallizing threats of catastrophic […]

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]]> CAPSA’s draft CAP guideline alters industry standards, say ACPM, CLHIA, PIAC https://www.benefitscanada.com/pensions/cap/capsas-draft-cap-guideline-alters-industry-standards-say-acpm-clhia-piac/ Thu, 10 Aug 2023 13:00:47 +0000 https://www.benefitscanada.com/?p=142018 The Association of Canadian Pension Management, the Canadian Life and Health Insurance Association and the Pension Investment Association of Canada say the Canadian Association of Pension Supervisory Authorities’ draft guideline for capital accumulation plans significantly alters the expectations and industry standards for CAPs. In an open letter, the organizations requested the CAPSA reconvene its industry working […]

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