Susan G. Seller – Benefits Canada.com

Expert panel: Risk management, target-benefit framework among themes shaping pension industry in 2024

bwolfe — Tue, 16 Jan 2024 14:00:02 +0000

While it’s impossible to predict exactly how pension case law will evolve in future, one can offer an educated guess at some legislative developments and other issues that may confront pension plan sponsors and administrators in the coming year. Risk management Plan sponsors can expect a continued focus on risk management as a key part […]

The post Expert panel: Risk management, target-benefit framework among themes shaping pension industry in 2024 appeared first on Benefits Canada.com.

Expert panel: Air Canada decision illustrates danger of relying on pension plan terms in wrongful dismissal actions

bwolfe — Tue, 28 Feb 2023 14:00:29 +0000

A recent court decision in Ontario illustrates the potential danger for employers that attempt to rely on pension plan terms to refute claims for pension-related losses in the context of wrongful dismissal actions. The case, Williams v. Air Canada, involved a claim by a long-time employee whose employment was terminated in 2020 when the airline […]

The post Expert panel: Air Canada decision illustrates danger of relying on pension plan terms in wrongful dismissal actions appeared first on Benefits Canada.com.

Expert panel: An update on regulatory oversight of pension risk management

bwolfe — Tue, 13 Dec 2022 14:00:01 +0000

In January, the Canadian Association of Pension Supervisory Authorities established a new committee with a mandate to develop a risk management guidance. In the CAPSA’s view, by having an adequate system for managing risks, “plan administrators are better positioned to keep pension assets safe and protect the plan from adverse risks.” Coinciding with this initiative, […]

The post Expert panel: An update on regulatory oversight of pension risk management appeared first on Benefits Canada.com.

Expert panel: Is risk management the new frontier in pension governance?

bwolfe — Tue, 07 Jun 2022 13:00:47 +0000

The importance of risk management isn’t new for the majority of defined benefit pension plan sponsors and administrators. The impact of long-term interest rates, market volatility, changing demographics and increasing longevity, inflation concerns, geopolitical events and other large economic, environmental and social factors are all contributing to the need to manage the financial risks associated […]

The post Expert panel: Is risk management the new frontier in pension governance? appeared first on Benefits Canada.com.

The evolution of pension governance policies

mdunne — Tue, 23 Mar 2021 05:00:36 +0000

Pension governance policies have been common for many years, at least since the Canadian Association of Pension Supervisory Authorities published its initial guidelines on pension plan governance in 2004. There are compelling reasons for plan administrators to have in place a formal pension governance structure and written governance policy. A governance policy, which sets out […]

The post The evolution of pension governance policies appeared first on Benefits Canada.com.

A look ahead at pension legislative changes for 2019

mschmit — Fri, 28 Dec 2018 04:30:33 +0000

While 2018 ushered in a number of significant changes to Ontario’s pension legislation, including a major revamping of the funding rules for defined benefit plans, additional pending changes are afoot for 2019. Other provinces, such as British Columbia, Manitoba and Nova Scotia, are also reviewing solvency funding requirements for plans registered in their respective jurisdictions. […]

The post A look ahead at pension legislative changes for 2019 appeared first on Benefits Canada.com.

Draft CAPSA guidance offers limited help with missing plan members

mschmit — Tue, 26 Jun 2018 04:00:54 +0000

The Canadian Association of Pension Supervisory Authorities has published draft guidance for plan administrators and third-party consultants to help them search for missing pension members. The task of locating members and beneficiaries has often placed a significant burden on pension plan administrators. They can’t complete plan windups (including partial terminations) until they’ve distributed all pension […]

The post Draft CAPSA guidance offers limited help with missing plan members appeared first on Benefits Canada.com.

2018 to be a significant year for pension reform in Ontario

mschmit — Tue, 23 Jan 2018 04:30:10 +0000

While 2017 was a relatively uneventful year in terms of legislative changes affecting pension plans, 2018 promises to be more significant, at least for many defined benefit plan sponsors in Ontario. The changes to the Ontario Pension Benefits Act scheduled to come into force during the coming year include: Funding and governance policies: Plan administrators will need to establish […]

The post 2018 to be a significant year for pension reform in Ontario appeared first on Benefits Canada.com.

Administrators will need to revisit governance policies under Ontario’s latest pension changes

mschmit — Wed, 31 May 2017 06:01:01 +0000

Alongside the Ontario government’s announcement earlier this month regarding a new funding framework for defined benefit pension plans in the province, it also said it would require plan administrators to establish written governance and funding policies. This move is one of a number of proposed measures designed to protect benefit security for members of defined […]

The post Administrators will need to revisit governance policies under Ontario’s latest pension changes appeared first on Benefits Canada.com.

Federal target-benefit conversions face an uphill battle

mschmit — Fri, 02 Dec 2016 04:50:15 +0000

While it may be true that there’s nothing new under the sun in the pension world, target-benefit plans may prove the exception. In the traditional landscape of defined benefit versus defined contribution plans, target-benefit plans represent a new frontier in pension design for employers. A target-benefit plan is an alternative plan design that combines features […]

The post Federal target-benefit conversions face an uphill battle appeared first on Benefits Canada.com.