provision for adverse deviation – 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 New target-benefit funding framework in Ontario to provide more flexibility for administrators, boards: expert https://www.benefitscanada.com/pensions/defined-benefit-pensions/new-target-benefit-funding-framework-in-ontario-to-provide-more-freedom-expert/ Mon, 18 Sep 2023 13:00:02 +0000 https://www.benefitscanada.com/?p=143545 The Ontario government’s new funding framework for target-benefit plans that will provide more flexibility for plan administrators and boards, says Domenic Barbiero, principal at Eckler Ltd. The proposed framework requires trustees to establish a number of policies, including funding, benefits, communications and overall governance. “This proposal is the second iteration of a proposal from the […]

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]]> ACPM urging Retraite Québec to increase flexibility in funding municipal, university DB pension plans https://www.benefitscanada.com/pensions/governance-law/acpm-urging-retraite-quebec-to-increase-flexibility-in-funding-municipal-university-db-pension-plans/ Mon, 29 May 2023 13:00:54 +0000 https://www.benefitscanada.com/?p=138909 The Association of Canadian Pension Management is urging Retraite Québec to provide additional flexibility in the funding of municipal and university defined benefit pension plans. In an open letter, the ACPM requested flexibility to fund up to 100 per cent of amortization payments from the reserve, noting this change would allow for better management of financial risks […]

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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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