Claude Marchessault is an educator, lawyer and the executive director of the British Columbia Teachers’, College and Public Service pension plans.
These are the views of the author and not necessarily those of Benefits Canada.
For years, a major public sector pension governance time bomb has been hidden in plain sight. But it may be too late to alert the bomb squad; the coronavirus pandemic and climate change may have already activated a countdown that can’t be stopped. Investment management is a key component of sustainability and central to any pension governance […]
A report published by the Canadian Public Pension Leadership Council in February 2019 offers compelling evidence about the broad benefits of workplace pension plans. The report, by Robert Brown, builds on a 2017 CPPLC report by Bob Baldwin that asked Canadians to quantify the maximum amount they’d pay, as a percentage of annual income, to maintain their […]
While retirement income security is top of mind for many Canadians, British Columbia’s public sector pension plans are noteworthy models that can be emulated by sponsors seeking plan design solutions, particularly when it comes to governance. Some other Canadian jurisdictions have introduced, or are in the process of developing, pension governance models similar to British Columbia, but […]
For more than 30 years, Canada’s public sector pension organizations have distinguished themselves by delivering secure, sustainable defined benefit pensions and, in the process, have earned a reputation as global leaders. That wasn’t always the case, so will it continue to be the case in 30 years? Six years ago, The Economist published a report that described how […]
Canada’s public sector pension organizations are global leaders. Over the past 30 years, they’ve distinguished themselves in the delivery of secure and sustainable defined benefit pensions but they’re facing new challenges. At issue is whether they can meet those challenges and repeat past successes for the next generation of Canadians. A new report commissioned by […]
There’s little doubt that working Canadians want a secure source of retirement income. The challenge for the pension industry is how to deliver the desired retirement income in a sustainable manner. In April 2017, the Canadian Public Pension Leadership Council published the results of a survey that provided key takeaways that will be useful to governments, policy-makers […]
The November 2008 report from British Columbia and Alberta’s joint expert panel on pension standards encouraged the two provincial governments to take a leadership position in pension reform and forge harmonized pension standards legislation that would provide a solid foundation for private sector pension plans and facilitate interprovincial labour mobility. While the panel’s vision of […]
In a previous post, I extolled the virtues of a benefits communications policy for those who communicate pensions and benefits to employees. Two recent court decisions demonstrate just how important a benefits communications policy can be for employers. In Feldstein v. 364 Northern Development Corp., the British Columbia Supreme Court awarded more than $93,000 in […]
If your job description includes responsibility for communicating pensions and benefits to fellow employees, then you’ll already know that with each new communication comes potential increased legal liability for your organization. Canadian courts and arbitrators have shown an increasing propensity to award damages to employees in cases of employer communications found to be untrue, inaccurate, […]
It doesn’t take much to make a B.C. registered pension plan (or a plan registered in another provincial jurisdiction with B.C. members) quickly become non-compliant with B.C.’s new Pension Benefits Standard Act (PBSA). The new and improved PBSA—the brainchild of the authors of the Joint Expert Panel on Pension Standards (JEPPS) 2008 report entitled Getting […]