A report commissioned by the Alberta government estimates the province would be entitled to more than half the assets of the Canada Pension Plan if it were to exit the national retirement savings program and go it alone. A third-party report compiled by consultant LifeWorks Inc. (now part of Telus Health) calculated that if Alberta gave the […]
An article on the Canada Post Corp. pension plan’s 2022 results was the most-read story on BenefitsCanada.com over the last week. Here are the five most popular news stories of the week: 1. Canada Post pension plan down 6.7% in 2022 2. Survey finds employees seeking more control over workday through flexible hours, remote working 3. Fidelity supporting young […]
Alberta’s finance critic says a report on the feasibility of a provincial replacement for the Canada Pension Plan has been kept back from the public for the past two years. In a press conference held last week, Shannon Phillips, a member of the New Democratic Party and opposition finance critic, criticized the United Conservative Party […]
In his session at the 2023 Global Investment Conference, Derek Dobson, the Colleges of Applied Arts and Technology pension plan’s chief executive officer, called back last year’s conference, noting Sebastien Betermeier, associate professor of finance at McGill University’s Desautels Faculty of Management, “talked about the benefits of the Canadian pension model, which is sometimes called […]
While individual pension plans have been around since 1991, they aren’t being widely used by the people they’re designed to help and remain poorly understood by the traditional pension sector, says Jean-Pierre Laporte, chief executive officer of Integris Pension Management Corp. “There’s no published statistics, but the last number I heard from a [Canada Revenue […]
A controversial law giving super-priority to defined benefit pension plan members during plan windups and insolvencies is coming into effect after receiving royal assent from Governor General Mary Simon. While Bill C-228 received royal assent at the end of April, most of its measures won’t come into force for another four years. However, the requirement […]
The Association of Canadian Pension Management is urging Retraite Québec to streamline its approach to actuarial solvency valuations for pension plans with members outside of the province. In an open letter, the ACPM requested the regulator either reconsiders its position on actuarial solvency valuations or grant exemptions to allow only one valuation to be carried […]
Recent amendments to the Quebec Pension Plan to encourage people to work past age 65 offer more flexibility on contributions and retirement age, says Bonnie-Jeanne MacDonald, director of financial security research for the National Institute on Ageing at Toronto Metropolitan University. “If people are accumulating a pension, working longer could potentially increase their pension,” says MacDonald, who […]
What’s in a name? A pension by any other name would smell as sweet — or would it? I started writing this month’s Pension Feature as an exercise to sift through some of the terms used by the pension industry to describe the different types of plans, but also to answer the question: Does the […]
Spain’s left-wing government won the backing of unions to reform the nation’s public pension system on Wednesday, in stark contrast with neighbouring France, where plans to raise the retirement age have led to waves of strikes and mass protests. The leaders of Spain’s two main labour unions, UGT and CC.OO., appeared alongside Minister of Social Security […]