Latest news in Governance/legislation

B.C. CPP consultations raise ‘red flags’ as approval deadline looms

B.C. CPP consultations raise ‘red flags’ as approval deadline looms

British Columbia is providing few details on the status of its consultations on the Canada Pension Plan despite a looming deadline of the end of…

Release of pension info the focus of court battle between rival unions

Release of pension info the focus of court battle between rival unions

A case centred on the ability to access actuarial documents filed with the Ontario pension regulator may soon be heading to the Ontario Court of…

  • By: Jann Lee
  • September 8, 2016 September 13, 2019
  • 08:50
Have your say: Should the feds reinstate lifelong pensions for disabled military veterans?

Have your say: Should the feds reinstate lifelong pensions for disabled military veterans?

A legal battle between six disabled veterans and the federal government could finally come to a close this fall. The case, which was launched in…

  • By: Staff
  • September 7, 2016 September 13, 2019
  • 09:20
A stalemate on pensions leaves workers in the lurch

A stalemate on pensions leaves workers in the lurch

After a long, tense summer in which lockouts and strike action were threatened, Canada Post finally came to an agreement with the Canadian Union of…

Top 50 DC Plans Report: A look at the latest governance trends

Top 50 DC Plans Report: A look at the latest governance trends

With the provision of defined benefit pensions on the decline and the subsequent growth in defined contribution plans, Canada’s retirement savings landscape is in a…

PRPPs continue to languish as provinces vary in enthusiasm for new option

PRPPs continue to languish as provinces vary in enthusiasm for new option

Throughout 2012, Ted Menzies, then the federal minister of state for finance tasked with the development of pooled registered pension plans, consistently proclaimed they were…

OAS eligibility reversal called ‘unsustainable,’ out of sync with other countries

A report released by the Office of the Superintendent of Financial Institutions this month projects that the federal government’s plan to cancel the increase in the…

CPP changes do little to ensure appropriate income for future retirees

CPP changes do little to ensure appropriate income for future retirees

For all it’s worth, I have already given the recent Canada Pension Plan enhancement a passing grade. As I noted in our firm’s July report…

Pension solvency funding a growing challenge as B.C. deficits mount

Pension solvency funding a growing challenge as B.C. deficits mount

British Columbia’s defined benefit pension plans continue to face funding challenges as solvency deficits mount, according to a report released last week by the Financial…

  • By: Jann Lee
  • August 23, 2016 September 13, 2019
  • 09:00
OAS and GIS changes to raise program costs by $11.6B in 2030: report

OAS and GIS changes to raise program costs by $11.6B in 2030: report

Cancelling the increase in the age of eligibility for old-age security benefits would raise total program expenditures by $10.4 billion by 2030, according to a…

  • By: Staff
  • August 22, 2016 September 13, 2019
  • 10:58
Ontario Teachers’ loses appeal of $1M wrongful dismissal ruling

Ontario Teachers’ loses appeal of $1M wrongful dismissal ruling

The Ontario Teachers’ Pension Plan Board has lost its appeal of a decision ordering it to pay more than $1 million to a former senior investment employee. The…

  • By: Jann Lee
  • August 18, 2016 September 13, 2019
  • 09:22
FICOM appoints interim superintendent of pensions

FICOM appoints interim superintendent of pensions

The Financial Institutions Commission of British Columbia has appointed Michael Peters as acting superintendent of pensions as part of an interim leadership team. The regulatory…

  • By: Staff
  • August 17, 2016 September 13, 2019
  • 09:05
B.C. government doing little to solicit feedback on CPP enhancement

B.C. government doing little to solicit feedback on CPP enhancement

The Canada Pension Plan enhancement deal that federal Finance Minister Bill Morneau reached with his provincial counterparts in June has hit a bump in the…

  • By: Greg Hurst
  • August 11, 2016 September 13, 2019
  • 09:30
Co-op Atlantic pensioners to share $7.25M as windup moves forward

Co-op Atlantic pensioners to share $7.25M as windup moves forward

More than 1,000 employee and retiree members of Co-op Atlantic’s defined benefit pension plan are to share $7.25 million following a New Brunswick judge’s approval…

Saskatchewan proposes elimination of solvency funding for certain pension plans

Saskatchewan proposes elimination of solvency funding for certain pension plans

Saskatchewan’s pension regulator has set out proposals that include eliminating solvency funding for the province’s negotiated cost pension plans. Currently, all negotiated cost plans must…

  • By: Staff
  • August 9, 2016 September 13, 2019
  • 09:28
CPP deal offers reprieve for group RRSPs

CPP deal offers reprieve for group RRSPs

Group registered retirement savings plans were in the hot seat when the Ontario government declared they wouldn’t be comparable for the purposes of the Ontario…

  • By: Yaelle Gang
  • August 9, 2016 September 13, 2019
  • 08:54
Investment association asks Ottawa for retirement reform

Investment association asks Ottawa for retirement reform

Most financial professionals — not to mention the government — are still working through the changes announced in the 2016 federal budget, but the Investment…

  • By: Staff
  • August 8, 2016 September 13, 2019
  • 10:00
Settlement puts end to litigation against U.S. pension fund

Settlement puts end to litigation against U.S. pension fund

Following a settlement reached by the parties, the United States District Court for the District of Columbia has dismissed the U.S. Department of Labour’s lawsuit against…

  • By: Staff
  • August 3, 2016 September 13, 2019
  • 12:29
Have your say: Were the ORPP costs reasonable?

Have your say: Were the ORPP costs reasonable?

Do you agree with Ontario spending $70 million on the now-abandoned Ontario Retirement Pension Plan? Last week, the provincial government released the costs for the…

  • By: Staff
  • August 2, 2016 September 13, 2019
  • 11:06
Eliminating solvency funding on the table as Ontario reviews DB rules

Eliminating solvency funding on the table as Ontario reviews DB rules

Eliminating the solvency-funding requirement is among the possibilities as the Ontario government launches consultations on revamping the funding rules for the province’s defined benefit pension plans. In…

  • By: Glenn Kauth
  • July 27, 2016 September 13, 2019
  • 11:21
How to avoid legal liability for benefits communications

How to avoid legal liability for benefits communications

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…

  • July 21, 2016 September 13, 2019
  • 09:30
Survey ranks Canada 10th for retirement security

Survey ranks Canada 10th for retirement security

Canada ranks 10th in a list of countries that provide the best retirement security, according to the latest global retirement index published today by Natixis…

  • By: Jann Lee
  • July 19, 2016 September 13, 2019
  • 09:00
When to tap into CPP and OAS benefits

When to tap into CPP and OAS benefits

When you reach the cusp of retirement, you’re no doubt aware the Canada Pension Plan and Old Age Security provide much of the financial bedrock…

  • By: David Aston
  • July 18, 2016 September 13, 2019
  • 10:18
CPP expansion will do little to boost rate of return: report

CPP expansion will do little to boost rate of return: report

The expanded Canadian Pension Plan will bring only a slightly higher rate of return for retirees — 2.5 per cent in the expanded plan compared…

  • By: Jann Lee
  • July 14, 2016 September 13, 2019
  • 11:58
U.S. proposes modernizing annual return forms for pensions and benefits plans

U.S. proposes modernizing annual return forms for pensions and benefits plans

The U.S. Department of Labor, the Internal Revenue Service and the Pension Benefit Guaranty Corporation are seeking public comments on proposed revisions to modernize and…

  • By: Staff
  • July 14, 2016 September 13, 2019
  • 09:14