variable payment life annuities – Benefits Canada.com

Halifax Port ILA/HEA assessing past, future of DB pension plans

bmcgovern — Fri, 09 Feb 2024 13:55:44 +0000

While Blair Richards understands why the industry is moving away from defined benefit pension plans, he worries about what may be lost in the process. When Richards — the chief investment officer at the Halifax Port ILA/HEA pension plan — joined the institutional investor 40 years ago, DB plans were an attractive hiring and retention […]

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Back to basics on decumulation

Jennifer Paterson — Fri, 17 Nov 2023 13:52:15 +0000

While the term decumulation may sound very technical and often leads to confusion among pension plan members, it’s actually quite simple — effectively, it’s the opposite of accumulation. These two terms make up the typical retirement savings journey — the accumulation phase is the working years when capital accumulation plan members put away their nest […]

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2023 Risk Management Conference: Super-priority bill fallout presenting DB plan sponsors with opportunities to embrace more innovative plans

lbailey — Wed, 18 Oct 2023 11:53:05 +0000

Defined benefit pension plan sponsors that are considering winding up their plans or converting them to another framework following the federal government’s super-priority bill have more innovative options, according to Mitch Frazer, managing partner at Mintz LLP, during the Canadian Investment Review’s 2023 Risk Management Conference. Although Bill C-228, which received royal assent at the end […]

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2022 CAP Suppliers Report: What’s on CAP sponsors’ wish lists for the coming year?

Sadie Janes — Fri, 16 Dec 2022 13:57:05 +0000

With the coronavirus pandemic and rising inflation causing economic uncertainty, capital accumulation plan sponsors are looking for new ways to help their members feel secure and get the most out of their savings plans. Benefits Canada asked CAP sponsors and other industry experts what’s on their wish lists to make these plans more effective and engaging […]

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Expert panel: DB, DC pension predictions for 2022

mdunne — Tue, 04 Jan 2022 14:00:14 +0000

As a new year dawns, our attention turns to what’s ahead, the following are a few of my predictions for trends in the world of pensions in 2022. Volatility We’re entering the year in an environment of considerable economic and financial market uncertainty. Supply chain problems, elevated price inflation and labour shortages in certain industries […]

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2021 DC Plan Summit: What legal issues are facing DC plan sponsors?

Jennifer Paterson — Fri, 17 Dec 2021 13:42:55 +0000

Among all the legal issues facing DC plan sponsors and administrators, questions around contribution errors is top of mind. “The industry has been speaking with [the Department of] Finance Canada on the tax side to see what can be done to help support us in fixing these errors,” said Susan Nickerson (pictured, left), a partner […]

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PIAC calling on feds to reform pension solvency rules, introduce VPLAs

mschmit — Fri, 22 Jan 2021 05:00:25 +0000

The Pension Investment Association of Canada is calling on the federal government to reform pension solvency rules while supporting legislation to introduce solvency reserve accounts and variable-payment life annuities. In response to a federal consultation paper, the PIAC said while it supports temporary relief measures amid the current economic climate, it cautioned against an approval […]

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Feds consulting on pension solvency relief measures, VPLAs

mschmit — Tue, 10 Nov 2020 05:24:56 +0000

The federal government is consulting on potential solvency funding relief options for 2021 and measures to further strengthen the framework for federally regulated pension plans. About seven per cent of private pension plans in Canada are federally regulated, such as those in industries like banking, telecommunications and inter-provincial transportation, noted a press release from the […]

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Feds releasing consultation on pension solvency relief measures, VPLAs

mschmit — Tue, 10 Nov 2020 05:05:31 +0000

The federal government is publishing a consultation paper on potential solvency funding relief options for 2021 and measures to further strengthen the framework for federally regulated pension plans. The announcement follows the government’s commitment in its 2019 budget to enhance the security of workplace pension in the event of corporate insolvency. The budget proposed the following measures: Requiring […]

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Coalition of experts creating roadmap for implementing VPLAs

mschmit — Thu, 05 Nov 2020 04:45:06 +0000

The Global Risk Institute is bringing together experts from various institutions to build a roadmap for implementing variable payment life annuities to achieve lifetime income for retirees in response to growing concerns of outliving retirement savings. Canadians are living longer, but with this longevity, they’re also watching their workplace pension coverage decline, noted a press […]

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