Most of the growth in the Canadian life and health insurance industry in 2015 came from the pensions and retirement market, the Canadian Life and Health Insurance Association noted in its 2016 factbook. The industry manages $131 billion of the $592 billion in employer-based pension plans, which accounts for 70 per cent of small and […]
An effort by the NDP to clamp down on exemptions from the Ontario Retirement Pension Plan went down to defeat yesterday as debate on the plan continued during hearings of the standing committee on social policy at Queen’s Park. Noting concerns about the lack of universality in the ORPP, NDP pensions critic Jennifer French put […]
The Association of Canadian Pension Management is hoping to see a series of pension consultations announced by the Ontario government when it shares the details of its 2016 Budget on Thursday. In its fall statement, Building Ontario Up, announced on Nov. 26, the provincial government said it would focus on a series of initiatives to […]
Pension systems still feel effects of financial crisis
Pension systems remain under strain in many countries amid slow economic growth and moves by governments to shore up financial stability in the wake of the global financial crisis, a new report by the Organization for Economic Co-operation and Development suggests. “The economic recovery remains sluggish in most OECD countries and, as a consequence, pension […]
Most plan administrators know by now that, effective Jan. 1, 2016, the statement of investment policies and procedures will once again become a filed document with the Ontario pension regulator.
Standard Life and the Canadian Federation of Independent Business are offering a new retirement savings solution called PrimaPension, which is designed to meet the requirements of small and mid-size enterprises and their employees.
Major trends are reshaping Canada’s pension industry—from greater employer interest in sharing or off-loading pension risk to increased on de-risking.
Minister of State (Finance) Kevin Sorenson announced that five insurance companies that have federal pooled registered pension plan licences have been registered with the Office of the Superintendent of Financial Institutions and the Canada Revenue Agency.
Panellists at Benefits Canada’s Benefits & Pension Summit in Toronto agreed that Canadians need to save more for retirement, but they were unable to agree on a solution.