An amendment to Manitoba’s Beneficiary Designation Act allows a pension plan member’s legal representative to now make a beneficiary designation on behalf of the member if they can’t make the designation themselves. However, the representative can only designate a beneficiary if the plan renews, replaces or converts a plan made by the participant and the same […]
The Canadian Life and Health Insurance Association is highlighting new retirement savings options and access to cheaper drugs in its priorities for the Quebec and Newfoundland and Labrador provincial budgets. In its submission to Newfoundland’s finance minister, the CLHIA called for the government to make pooled registered pension plans available in the province. Citing Statistics Canada data that […]
The final quarter of 2018 was choppy for pension managers’ pooled funds as they posted a median return of negative 5.6 per cent, contributing to the year’s overall median return of negative 2.7 per cent, according to Morneau Shepell Ltd.’s pension performance universe. “The bond market posted a positive return of 1.4 per cent for 2018,” said Jean […]
Manitoba is a step closer to carrying out its plan to offer pooled registered pension plans. Yesterday, Finance Minister Cameron Friesen said enabling legislation and regulations came into effect Aug. 1. “Many employees and self-employed Manitobans do not have access to a workplace pension,” said Friesen. “These pooled registered pension plans are designed to help […]
Ambachtsheer and Waitzer: It’s up to the provinces.
It has been a month since Canada’s finance ministers emerged from their Kananaskis, Alta. meeting and announced agreement on moving forward with the pooled registered pension plan (PRPP), and shelving Canada pension plan (CPP) expansion for now. Predictably, perhaps, the financial services industry has applauded the PRPP, while the labour movement have decried it as […]