The overall solvency position improved slightly for federally registered pension plans in 2016 compared to 2015, but the majority of funds remained slightly underfunded on a termination basis, according to the Office of the Superintendent of Financial Institutions’ 2016/17 annual report. The report found that, at Dec. 31, 2016, 80 per cent of the defined […]
The Ontario government’s announcement in its April budget that it will be addressing the regulatory framework related to defined contribution pension plans has done little to quell the debate about whether modernization and expansion of the existing rules is necessary or desirable. Those in favour say that, as defined contribution plans continue to grow in […]
As we look to the year ahead, there are many dates for professionals in the pension, benefits and investment industries to add to their calendars. Better make it quick, because many of these take effect as soon as the new year arrives. January 1: An increase of $400 (from $54,900 in 2016 to $55,300 in […]
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.