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The Financial Services Regulatory Authority of Ontario has updated its guidance on the roles and responsibilities of pension plan administrators, adding three additional areas for administrators to enhance protection and stability for pension plan beneficiaries. The guidance, which took effect earlier this month, stated an administrator is responsible for all aspects of the administration of the […]

  • By: Staff
  • June 24, 2024 June 24, 2024
  • 15:00

In its newest guidance, the Financial Services Regulatory Authority of Ontario is barring pension plan administrators from registering retroactive adverse amendments that could have a negative impact on plan members or beneficiaries, such as changes in contribution rates, subject to limited exceptions. “What we found coming out of the [coronavirus] pandemic, . . . there was […]

The evolution of artificial intelligence is creating new challenges and investment opportunities for defined contribution pension plan members, said Kathrin Forrest, equity investment director at Capital Group, during a session at Benefits Canada’s 2024 DC Plan Summit in February. While the technology itself isn’t new, AI has rapidly developed in recent years, exemplified by generative […]

More than £50 billion in U.K. pension benefits were at risk of being misplaced in abandoned accounts or scattered across multiple lost pots in 2023, according to a study by the Centre for Economics and Business Research on behalf of PensionBee Ltd. It noted at least 4.8 million U.K. pension pots were considered lost in 2023, […]

  • By: Staff
  • March 25, 2024 March 25, 2024
  • 15:00
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Eastman Kodak Co. is disbanding a team that manages the firm’s US$1.6 trillion of pension investments and moving its management to Boston-based investment consulting firm NEPC. In a statement, the organization said as at Dec. 31, 2022, the fair value of plan assets was approximately $3.7 billion, with the projected benefit obligation of the plan […]

  • By: Staff
  • March 6, 2024 March 5, 2024
  • 09:00
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The Financial Services Regulatory Authority of Ontario’s proposed family rule could allow for pension benefits to be divided more fairly in the event of a marriage breakdown, says Louis Duranleau, a senior principal of pensions at Normandin Beaudry. “When there’s an agreement between the spouses to share the retiree’s pension before it’s effectively divided in […]

Working in the pension industry has always been aligned with Shannan Corey’s personal interests and values. Her father was an actuary so she was exposed to the pension industry from a very young age. After earning her mathematics degree at the University of Saskatchewan, she became an associate actuary, spending a few years in consulting […]

  • By: Sadie Janes
  • September 15, 2023 September 14, 2023
  • 08:56
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An increase in the protection limit for defined benefit pension plan members’ assets invested in annuities is making it easier for plan sponsors to de-risk, says Mary Kate Archibald, a principal at Eckler Ltd. Assuris, the not-for-profit organization that protects a portion of retirement benefits from annuities in the event of an insurer’s insolvency, now covers up to $5,000 […]

The OPSEU Pension Trust is expanding the definition of an eligible dependent child so disabled dependent children may be entitled to survivor benefits. Previously, a plan member’s children were only eligible for survivor benefits if they were younger than age 18, older than age 18 and attending secondary school full time or attending a post-secondary […]

  • By: Staff
  • April 6, 2023 April 6, 2023
  • 09:00
FSRA issues final guidance on missing pension plan members

Ontario-based pension plan sponsors can help reduce the number of missing plan members by examining their communications strategies and maintaining best practices in record keeping and data management, says Caroline Blouin, executive vice-president of pensions at the Financial Services Regulatory Authority of Ontario. “As an employer, there is an opportunity to provide some education and […]