Home Pension reform

Keyword: Pension reform

669 results found

Alberta Premier Jason Kenney says his government will make a decision this spring on whether to pursue pulling Alberta out of the Canada Pension Plan. But Kenney says even if the United Conservative government proceeds, Albertans will have the final say through a referendum on whether to create an Alberta Pension Plan. Treasury Department officials […]

The Pension Investment Association of Canada is calling on the federal government to reform pension solvency rules while supporting legislation to introduce solvency reserve accounts and variable-payment life annuities. In response to a federal consultation paper, the PIAC said while it supports temporary relief measures amid the current economic climate, it cautioned against an approval […]

  • By: Staff
  • January 22, 2021 April 14, 2021
  • 09:00
Provinces asking feds to delay bump in CPP premiums

Provincial finance ministers have been quietly prodding Finance Minister Chrystia Freeland to pause planned increases in the premiums employers and employees pay into the Canada Pension Plan. The planned increase on Jan. 1, 2021 is part of a multi-year plan approved by provinces and the federal government four years ago to boost retirement benefits through the public plan by […]

Canadians named to advisory board on pension plan transparency

A new advisory board tasked with creating a benchmark for transparency throughout global pension investment systems will include two Canadian members. The board was jointly established by Top1000funds.com and CEM Benchmarking Inc. to foster more transparency in pension investments, with the aim of improving outcomes for plan members. According to a press release, the benchmark ratings will examine […]

  • By: Staff
  • November 25, 2020 November 25, 2020
  • 09:00
OSFI, FSRA name members of new DC plan committee

The Office of the Superintendent of Financial Institutions and the Financial Services Regulatory Association of Ontario have selected members for their new joint advisory committee on defined contribution pension plans. The committee will review the regulators’ approaches to supervising DC plans and, where possible, enhance regulatory efficiency and effectiveness by finding opportunities for harmonization. Read: […]

  • By: Staff
  • November 20, 2020 November 20, 2020
  • 16:00
CFIB wary of incoming CPP premium hike

The Canadian Federation of Independent Business is asking the federal government to hold Canada Pension Plan premiums at current levels next year when they’re scheduled to rise, as employers and employees struggle with the ongoing coronavirus pandemic. According to the organization, approximately one third of small businesses are currently losing money and higher payroll taxes […]

Back to basics on the provision for adverse deviation

Defined benefit plan sponsors can’t predict the future — but with a provision for adverse deviation, they can at least plan for it. “Given the work that actuaries do, where it’s all about quantifying risks and all these unknowns, it’s always best to be conservative,” says Andrew Gillies, partner and consultant at Robertson, Eadie & […]

Feds releasing consultation on pension solvency relief measures, VPLAs

The federal government is publishing a consultation paper on potential solvency funding relief options for 2021 and measures to further strengthen the framework for federally regulated pension plans. The announcement follows the government’s commitment in its 2019 budget to enhance the security of workplace pension in the event of corporate insolvency. The budget proposed the following measures: Requiring […]

  • By: Staff
  • November 10, 2020 January 19, 2021
  • 09:05
Ontario’s 2020 budget highlights employer health tax, pension reviews

In its 2020 budget on Thursday, the Ontario government said it plans to permanently extend the employer health tax payroll exemption from $490,000 to $1 million. The change is expected to save Ontario employers about $360 million in 2021/22 as they endure the economic impact of the coronavirus pandemic. “When the COVID-19 outbreak struck Ontario, the […]

  • By: Staff
  • November 6, 2020 January 19, 2021
  • 08:45
Coalition of experts creating roadmap for implementing VPLAs

The Global Risk Institute is bringing together experts from various institutions to build a roadmap for implementing variable payment life annuities to achieve lifetime income for retirees in response to growing concerns of outliving retirement savings. Canadians are living longer, but with this longevity, they’re also watching their workplace pension coverage decline, noted a press […]

  • By: Staff
  • November 5, 2020 January 19, 2021
  • 08:45