PfAD – Benefits Canada.com https://www.benefitscanada.com Canada's most influential pension and benefits publication for decision-makers Thu, 02 May 2024 20:20:47 +0000 en-US hourly 1 https://wordpress.org/?v=4.9.8 ACPM urging Ontario to remove burdensome requirements from proposed target-benefit pension framework https://www.benefitscanada.com/pensions/governance-law/acpm-urging-ontario-to-remove-burdensome-requirements-from-proposed-target-benefit-pension-framework/ Thu, 29 Jun 2023 13:00:21 +0000 https://www.benefitscanada.com/?p=140518 The Association of Canadian Pension Management is urging the Ontario government to ensure its proposed rules for multi-employer target-benefit pension plans don’t undermine existing incentives that enable employers to create and maintain workplace pension plans. In an open letter, the ACPM said it believes the provision for adverse deviation will overly restrict the ability of MEPP trustees to manage […]

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]]> ACPM urging CAPSA to prioritize decumulation in draft 2023-2026 strategic plan https://www.benefitscanada.com/pensions/governance-law/acpm-urging-capsa-to-prioritize-decumulation-in-draft-2023-2026-strategic-plan/ Thu, 16 Mar 2023 13:00:31 +0000 https://www.benefitscanada.com/?p=135336 The Association of Canadian Pension Management is encouraging the Canadian Association of Pension Supervisory Authorities to prioritize decumulation in its draft 2023-2026 strategic plan. In an open letter to the CAPSA, the ACPM recommended the strategic plan address all potential decumulation income sources beyond defined contribution pension assets, noting that, while a focus on these […]

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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-21/ Fri, 27 Jan 2023 14:00:34 +0000 https://www.benefitscanada.com/?p=133099 An article on how British Columbia’s amended definition of provision for adverse deviation will impact the province’s target-benefit pension plans was the most-read story on BenefitsCanada.com over the last week. Here are the five most popular news stories of the week: 1. B.C.’s amended PfAD to provide more flexibility to target-benefit pension plans: experts 2. BNP Paribas expanding […]

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]]> B.C.’s amended PfAD to provide more flexibility to target-benefit pension plans: experts https://www.benefitscanada.com/pensions/governance-law/b-c-s-amended-pfad-to-provide-more-flexibility-to-target-benefit-pension-plans-experts/ Fri, 20 Jan 2023 14:00:10 +0000 https://www.benefitscanada.com/?p=132808 British Columbia’s amended definition of provision for adverse deviation will provide additional flexibility to the province’s target-benefit pension plans, according to experts. The changes to the PfAD’s definition lowers the minimum funding requirement to 7.5 per cent and allows a supplementary percentage identified by the target-benefit plan administrator or board as appropriate to achieve the […]

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]]> How InBenefits is aiming to prove the potential of target-benefit pensions https://www.benefitscanada.com/archives_/benefits-canada-archive/how-inbenefits-is-aiming-to-prove-the-potential-of-target-benefit-pensions/ Fri, 18 Nov 2022 13:53:09 +0000 https://www.benefitscanada.com/?p=129492 Alain Malaket has a nuanced perspective on risk — one informed by his experiences as a third-party administrator, pension regulator, consultant, pension plan director and motorcyclist. Today, InBenefits’ chief executive officer’s perspective informs his interest in alternative pension models. Put simply, he believes people don’t make the best decisions about safeguarding their futures. It’s a […]

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]]> Ontario seeking feedback on framework for target-benefit pension plans https://www.benefitscanada.com/pensions/governance-law/ontario-seeking-feedback-on-framework-for-target-benefit-pension-plans/ Thu, 17 Nov 2022 18:00:53 +0000 https://www.benefitscanada.com/?p=129981 In its fall economic statement, the Ontario government said it will ask stakeholders to provide feedback this winter on a draft framework for target-benefit pension plans. “Implementation of a permanent target-benefit framework would pave the way for more employers to offer workplace pension plans, increasing the opportunities for workers to save for their retirement,” said the […]

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]]> CIA supporting going-concern plus regime, auto features in Alberta’s private sector pensions https://www.benefitscanada.com/pensions/governance-law/cia-supporting-going-concern-plus-regime-auto-features-in-albertas-private-sector-pensions/ Mon, 07 Nov 2022 14:00:53 +0000 https://www.benefitscanada.com/?p=129415 The Canadian Institute of Actuaries is supporting several of the Alberta government’s proposed legislative and policy updates for private sector pension laws, including the move towards a going-concern plus regime for defined benefit plans and the introduction of automatic features in defined contribution plans. In its response to the consultation draft, the CIA cited the benefits […]

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]]> B.C. amending definition of PfAD for pension plans with target-benefit provisions https://www.benefitscanada.com/pensions/governance-law/b-c-amending-definition-of-pfad-for-pension-plans-with-target-benefit-provisions/ Mon, 17 Oct 2022 13:00:05 +0000 https://www.benefitscanada.com/?p=128591 British Columbia is amending the definition of provision for adverse deviation for pension plans in the province with a target-benefit provision. The changes to PfAD’s definition, which will come into effect on Dec. 31, 2022, reflects recommendations from the B.C. Financial Services Authority to the Ministry of Finance. The amendments will lower the minimum funding […]

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]]> PIAC providing feedback on potential updates to Alberta’s private sector pension legislation https://www.benefitscanada.com/pensions/governance-law/piac-providing-feedback-on-potential-updates-to-albertas-private-sector-pension-legislation/ Thu, 22 Sep 2022 13:00:05 +0000 https://www.benefitscanada.com/?p=127216 The Pension Investment Association of Canada is providing feedback on the Alberta government’s consultation draft of potential legislative and policy updates for private sector pension laws. While the PIAC doesn’t have specific views on how to calculate the provision for adverse deviation, it’s encouraged Alberta is considering a harmonized approach, wrote Sean Hewitt, chair of […]

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]]> A look at MEPPs in a shifting pension landscape https://www.benefitscanada.com/archives_/benefits-canada-archive/a-look-at-mepps-in-a-shifting-pension-landscape/ Fri, 13 May 2022 12:54:09 +0000 https://www.benefitscanada.com/?p=120833 As the move away from traditional defined benefit plans continues and intensifies, Canada’s multi-employer pension plans are providing employers with another retirement savings option for their employees. And despite facing a number of challenges, from industries in decline to legislative obstacles, MEPPs continue to attract plan sponsors from across the country. Read: Canadian MEPPs facing challenges […]

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