Latest news in Governance/legislation

What to do when FSCO comes knocking on a plan sponsor’s door

What to do when FSCO comes knocking on a plan sponsor’s door

The Financial Services Commission of Ontario has said it expects to perform an on-site examination of every pension plan in the province over the next…

2017 tax change gives extra incentive to look at annuitizing certain pension obligations

2017 tax change gives extra incentive to look at annuitizing certain pension obligations

With the taxation of certain annuity payments affected by impending changes to Canadian tax rules, employers that offer supplementary pension benefit plans may wish to…

Editorial: A note of optimism after a difficult year

Editorial: A note of optimism after a difficult year

The situation for Canada’s pension industry looked fairly uncertain at the beginning of 2016. A significant portion of the industry was bracing for the implementation…

  • By: Glenn Kauth
  • December 13, 2016 September 13, 2019
  • 09:00
How plan sponsors can avoid U.S.-style lawsuits over DC fees

How plan sponsors can avoid U.S.-style lawsuits over DC fees

When staffers on the comedy show Last Week Tonight joined a new 401(k) plan, they were set to pay 1.69 per cent in administrative expenses,…

Sounding Board: Are you ready for new pension advisory committee rules in Ontario?

Sounding Board: Are you ready for new pension advisory committee rules in Ontario?

The Ontario government recently issued final regulations regarding pension advisory committees that will come into effect on Jan. 1, 2017. People might legitimately wonder whether…

Auditor general reports highlight pension accounting policies

Auditor general reports highlight pension accounting policies

New Brunswick’s auditor general noted in her annual report last week that she’s pleased with recent progress to resolve the province’s audit issues, including accounting…

  • By: Staff
  • December 5, 2016 September 13, 2019
  • 08:40
Federal target-benefit conversions face an uphill battle

Federal target-benefit conversions face an uphill battle

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…

  • December 2, 2016 September 13, 2019
  • 08:50
Survey finds gap between plan sponsors, members on retirement prospects

Survey finds gap between plan sponsors, members on retirement prospects

While plan members feel fairly confident about their retirement prospects, employers aren’t quite so optimistic, Benefits Canada‘s 2016 CAP Member Survey has found. The biggest…

  • By: Staff
  • November 29, 2016 September 13, 2019
  • 09:26
Manitoba submits PRPP bill to boost workplace retirement savings

Manitoba submits PRPP bill to boost workplace retirement savings

The government of Manitoba has introduced legislation to bring pooled registered pension plans to the province, a move first referenced in the throne speech on…

  • By: Jann Lee
  • November 25, 2016 September 13, 2019
  • 10:47
Ontario spent $800K on ads after cancelling ORPP

Ontario spent $800K on ads after cancelling ORPP

The Ontario government spent $793,925 on new advertising out of the budget for the Ontario Retirement Pension Plan after cancelling the program, according to documents…

Manitoba to introduce pooled retirement pension plans

Manitoba to introduce pooled retirement pension plans

The government of Manitoba has announced it will introduce pooled retirement pension plans as a new option to help the province’s employees save for retirement.…

  • By: Jann Lee
  • November 23, 2016 September 13, 2019
  • 10:30
Have your say: Is the federal government on the right track with target-benefit pensions?

Have your say: Is the federal government on the right track with target-benefit pensions?

Is the federal government on the right track when it comes to allowing target-benefit pension plans? Last month, the government introduced legislation that would allow…

  • By: Staff
  • November 22, 2016 September 13, 2019
  • 10:28
Plan sponsors face new monetary penalties under Ontario pension changes

Plan sponsors face new monetary penalties under Ontario pension changes

Ontario legislation creating a new pension regulator and giving it powers to impose administrative monetary penalties will create an environment with considerably more regulatory muscle, pension…

Don’t take ESG requirement as an endorsement to invest with a moral compass

Don’t take ESG requirement as an endorsement to invest with a moral compass

Environmental, social and governance are words you might have heard a lot about lately. Ontario legislators now require pension plan administrators to disclose if and…

  • By: Lewis Powell
  • November 21, 2016 September 13, 2019
  • 09:15
Federal target-benefit bill denounced as ‘unconscionable betrayal’

Federal target-benefit bill denounced as ‘unconscionable betrayal’

Canada’s labour movement is organizing against a federal bill that would allow federally regulated employers to establish target-benefit pension plans and convert existing defined benefit pensions to the new…

Ontario announces plans for new pension regulator

Ontario announces plans for new pension regulator

The Ontario government announced plans yesterday to establish a new pension regulator. The Financial Services Regulatory Authority will be an independent and flexible regulatory body aimed at…

  • By: Jann Lee
  • November 15, 2016 September 13, 2019
  • 11:33
Time for B.C., Alberta pension administrators to prepare for new triennial assessments

Time for B.C., Alberta pension administrators to prepare for new triennial assessments

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…

  • November 15, 2016 September 13, 2019
  • 09:05
Are New Brunswick’s shared-risk plans on target?

Are New Brunswick’s shared-risk plans on target?

The situation for the City of Saint John’s pension plan didn’t look very good when it converted to a shared-risk arrangement at the beginning of…

New Brunswick’s shared-risk conversion faces a flurry of legal attacks

New Brunswick’s shared-risk conversion faces a flurry of legal attacks

Employers across the country are keeping a close eye on New Brunswick, as the province becomes the legal battleground where decisions on the scope of…

Ontario adopts PRPP regulations

Ontario has adopted regulations to make pooled retirement pension plans available to employees in the province, joining British Columbia, Saskatchewan, Quebec, Nova Scotia and federally…

Ontario forms expert panel to report on pension accounting conflict

Ontario forms expert panel to report on pension accounting conflict

The Ontario government is forming an independent expert panel to deliver advice and recommendations on the appropriate application of accounting standards for the province’s jointly-sponsored…

  • By: Staff
  • November 14, 2016 September 13, 2019
  • 09:07
What does a Trump presidency mean for U.S. employers?

What does a Trump presidency mean for U.S. employers?

After months, and even years, of buildup and anticipating, Republican nominee Donald Trump is the next president of the United States. Looking at his platform,…

Feds appealing decision in $40M tax dispute with bcIMC

Feds appealing decision in $40M tax dispute with bcIMC

The federal government is appealing a B.C. court ruling in a dispute over whether the British Columbia Investment Management Corp. (bcIMC) owes it more than…

  • By: Glenn Kauth
  • November 7, 2016 September 13, 2019
  • 09:00
Manitoba launches consultation on Canada Pension Plan

Manitoba launches consultation on Canada Pension Plan

Manitoba is launching public consultations to hear ideas and suggestions on enhancements to the Canada Pension Plan. The province had originally opted out of the…

  • By: Staff
  • November 4, 2016 September 13, 2019
  • 15:24
Pension industry urged to look internationally for decumulation solutions

Pension industry urged to look internationally for decumulation solutions

As defined contribution plans mature and members retire, the pension industry may want to look abroad for solutions to the decumulation dilemma, participants at an…