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The Financial Services Regulatory Authority of Ontario’s revised proposed guidance on retroactive adverse amendments for pension plan administrators is inconsistent with existing case law, the wording of the Pension Benefits Act and the principles of statutory interpretation, said the Association of Canadian Pension Management, in an open letter. The FSRA’s proposed guidelines aim to provide greater […]

  • By: Staff
  • February 5, 2024 February 9, 2024
  • 09:00

Interest rate levels are critically important to the financial health of defined benefit pension plans. Many DB plans are in their best financial positions in decades, largely due to the dramatic rise in interest rates over the past few years, but decreases in interest rates could pose a major risk for many plans. Changes in […]

The U.K. government is introducing legislation that aims to increase defined contribution pension plan savings by more than £1,000 a year in retirement for the average plan member. The legislation will commit nine of the U.K.’s largest DC plan providers to an objective of allocating five per cent of assets in their default funds to […]

  • By: Staff
  • July 17, 2023 July 14, 2023
  • 09:00

The federal government is launching a consultation on draft amendments to pension legislation pertaining to the transfer of unclaimed benefits for missing plan members. Under the Pensions Benefits Standards Act, plan administrators can transfer pension assets of missing members to a ‘designated entity.’ The draft amendments specify who qualifies as a missing member or beneficiary, as […]


A bill currently under consideration by Canada’s senate could hasten the closure of open defined benefit plans, according to Gavin Benjamin, a partner in LifeWorks Inc.’s pension and benefits solutions business. “In our view, this is a potential outcome, particularly with respect to companies for whom the ability to borrow is affected by the bill,” […]

  • By: Staff
  • December 15, 2022 December 15, 2022
  • 13:15

A bill intended to provide defined benefit pension plan members with super-priority should be a major concern for Canadian DB plan sponsors, according to LifeWorks Inc.’s latest monthly pension indices report. “While the goal of [Bill C-228] is to protect the pensions of members and retirees in the event of a company’s insolvency, it could […]

  • By: Staff
  • December 13, 2022 December 13, 2022
  • 12:45

A bill intended to provide defined benefit pension plan members with super-priority in the event of a plan sponsor’s insolvency passed in the House of Commons last week, furthering division among stakeholders on whether the legislation will cause more harm than good in the long term. The Association of Canadian Pension Management, the Canadian Chamber of […]

The Bank of England’s decision to intervene in the long-dated government bond market protected defined benefit pension plans with liability-driven investment strategies, according to a central bank official. “In practice, the move in [long-term bond] yields last week threatened to exceed the size of the cushion for many LDI funds, requiring them to either sell […]

  • By: Staff
  • October 11, 2022 October 7, 2022
  • 12:30

Yellow Pages Ltd. has secured the support of enough shareholders to approve a plan to bolster its defined benefit pension plan’s coffers. During a virtual meeting scheduled for Sept. 23, 2022, shareholders are expected to vote on a proposal to advance $24 million to the company’s DB plan. “Our board has approved the use of […]

  • By: Staff
  • September 1, 2022 August 31, 2022
  • 12:00

A new white paper published by the Canadian Institute of Actuaries is proposing new rules during defined benefit plan windups, requiring higher solvency ratios for members who are retired and lower ones for those at earlier stages in their careers. “This paper suggests that retiree pensions would be better protected if the solvency funding regime framework […]