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OMERS Sponsors Corp. approves shared-risk indexing, other plan design changes

Plan design changes are on the horizon for the Ontario Municipal Employees Retirement System’s primary pension plan. The OMERS Sponsors Corp. board has approved five plan changes. The first three changes are effective immediately and are tied to circumstances related to the coronavirus. The other two are part of the annual plan review, which were […]

  • By: Staff
  • June 26, 2020 November 12, 2020
  • 08:30
Manitoba Liberals, union concerned with direction of province’s pension proposals

Manitoba’s Liberal Party is concerned about a number of pension plan design changes put forth by the province’s Conservative government in a public review earlier this month. “We are extremely concerned about the direction the Pallister government is taking on pensions,” Dougald Lamont, the leader of the Manitoba Liberals, said in an email to Benefits Canada.   The […]

There’s more to New Brunswick’s shared-risk plan story

The relatively new New Brunswick shared-risk plan (SRP) model has received a lot of attention and positive publicity over the past year, not only in the province and the rest of Canada but also around the world. However, there are a number of significant shortcomings that have, to date, not been particularly well identified, understood or communicated.

Coalition for retirement security calls for pension protection

The Canadian Coalition for Retirement Security has launched a campaign to push for legislation to protect the earned pension benefits of public and private sector employees and retirees.

  • By: Staff
  • August 5, 2015 September 13, 2019
  • 11:10
Shared-risk model receives top marks

New Brunswick's shared-risk model for pension plans has received the highest grade from the American Academy of Actuaries.

  • By: Staff
  • January 9, 2015 September 13, 2019
  • 11:07
New Brunswick makes amendments to Pension Benefits Act

The Government of New Brunswick reconvened the legislative assembly to make amendments to the Pension Benefits Act that will enable retirees under the Fraser Papers’ pension plans to immediately benefit from increased pension payouts.

  • By: Staff
  • July 30, 2014 September 13, 2019
  • 11:06
Feds to propose shared-risk pensions: Reports

Ottawa plans to propose shared-risk pension plans for crown corporations and federally regulated companies, according to media reports.

  • By: Staff
  • April 24, 2014 September 13, 2019
  • 10:57

When faced with issues regarding the sustainability of its DB pension plan, Saint John Energy, an electrical distribution utility servicing the City of Saint John, N.B., took an innovative approach to implement a leading-edge solution. As a result, Saint John Energy has been able to make changes to its plan design with member approval.

SRPPs: A new model for pensions

Pension reform in New Brunswick can be traced to two highly publicized pension plan failures, which reduced incomes substantially below the level promised by the plans. These events tangibly demonstrated the risks inherent in the current pension delivery model being followed across Canada.

Steele moves to Osler

Jana Steele has left Goodmans and joined Osler as a partner in its pensions and benefits department.

  • By: Staff
  • June 21, 2013 September 13, 2019
  • 09:22