bankruptcy and insolvency – Benefits Canada.com https://www.benefitscanada.com Canada's most influential pension and benefits publication for decision-makers Thu, 21 Nov 2024 16:43:00 +0000 en-US hourly 1 https://wordpress.org/?v=4.9.8 FSRA focusing on target-benefit framework for MEPPs, sustainability of PBGF in 2024-25 annual plan https://www.benefitscanada.com/pensions/governance-law/fsra-focusing-on-target-benefit-framework-for-mepps-sustainability-of-pbgf-in-2024-25-annual-plan/ Wed, 17 Apr 2024 13:00:25 +0000 https://www.benefitscanada.com/?p=154330 In its 2024-25 annual plan, the Financial Services Regulatory Authority of Ontario is focusing on assessing and mitigating systemic and high-priority risks in the province’s defined benefit pension plan sector. The regulatory body will review and enhance its supervisory framework to strengthen supervision of large public sector pension plans, ensuring its plan amendments and surplus […]

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]]> Is the single-employer DB pension plan dead or merely modernizing for the future? https://www.benefitscanada.com/pensions/defined-benefit-pensions/is-the-single-employer-db-pension-plan-dead-or-merely-modernizing-for-the-future/ Thu, 13 Jul 2023 13:00:01 +0000 https://www.benefitscanada.com/?p=140823 Predictions of the demise of defined benefit pension plans are premature. The reality is DB is still alive and well in the public sector, with a growing number of multi-employer plans making the promise of financial certainty in retirement provided by DB pensions available to private sector employers of all sizes. What’s under threat is […]

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]]> Canadian DB pension plan assets rise 1.9% in April: report https://www.benefitscanada.com/benefits/disability-management/canadian-db-pension-plan-assets-rise-1-9-in-april-report/ Thu, 11 May 2023 16:00:11 +0000 https://www.benefitscanada.com/?p=137747 A typical Canadian defined benefit pension plan’s funded position improved on a solvency basis and decreased on an accounting basis in April as a result of the strong performance of domestic equities and decreases in bond yields, according to a new report by Telus Health. During the month, the solvency of the typical Canadian DB […]

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]]> Controversial super-priority pension bill receives royal assent https://www.benefitscanada.com/pensions/defined-benefit-pensions/controversial-super-priority-pension-bill-receives-royal-assent/ Tue, 02 May 2023 17:30:14 +0000 https://www.benefitscanada.com/?p=137195 A controversial law giving super-priority to defined benefit pension plan members during plan windups and insolvencies is coming into effect after receiving royal assent from Governor General Mary Simon. While Bill C-228 received royal assent at the end of April, most of its measures won’t come into force for another four years. However, the requirement […]

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]]> Head to head: Will the government’s super-priority bill spell the end of DB pension plans? https://www.benefitscanada.com/archives_/benefits-canada-archive/head-to-head-will-the-governments-super-priority-bill-spell-the-end-of-db-pension-plans/ Fri, 14 Apr 2023 12:59:58 +0000 https://www.benefitscanada.com/?p=136109 The bill is a divisive one, with the pension industry concerned about the future of corporate-sponsored defined benefit pension plans and an association representing plan members firmly in its favour. Todd Saulnier, board president, the Association of Canadian Pension Management While Bill C-228 on its own may not spell the end of all DB plans, […]

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]]> CPPIB sells stake in French home care company; Ontario court gives retailer protection to Caisse, OMERS, OTPP as Nordstrom leaves Canada https://www.benefitscanada.com/canadian-investment-review/alts/cppib-sells-stake-in-french-home-care-company-ontario-court-gives-retailer-protection-to-caisse-omers-otpp-as-nordstrom-leaves-canada/ Tue, 21 Mar 2023 16:30:15 +0000 https://www.benefitscanada.com/?p=135462 The Canada Pension Plan Investment Board is selling its stake in a scandal-ridden French home care company for €26.1 million — 6.18 per cent of the value of the initial investment. The move follows a restructuring agreement that provides Orpea Groupe’s bondholders with control of the majority of its equity. As part of the terms, other […]

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]]> Lack of viable alternatives to pension super-priority bill likely to ensure its passage, says pensioner association https://www.benefitscanada.com/pensions/defined-benefit-pensions/lack-of-viable-alternatives-to-pension-super-priority-bill-likely-to-ensure-its-passage-says-pensioner-association/ Thu, 16 Feb 2023 17:00:11 +0000 https://www.benefitscanada.com/?p=133947 A bill that would give super-priority to defined benefit pension plan members during plan windups and insolvencies is likely to be passed by the senate because the pension sector hasn’t provided viable alternatives, says Mike Powell, president of the Canadian Federation of Pensioners. On Feb. 8, 2023, Powell delivered a presentation in support of Bill […]

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]]> Pension super-priority bill passes in House of Commons https://www.benefitscanada.com/pensions/governance-law/pension-super-priority-bill-passes-in-house-of-commons/ Mon, 28 Nov 2022 14:00:28 +0000 https://www.benefitscanada.com/?p=130396 A bill intended to provide defined benefit pension plan members with super-priority in the event of a plan sponsor’s insolvency passed in the House of Commons last week, furthering division among stakeholders on whether the legislation will cause more harm than good in the long term. The Association of Canadian Pension Management, the Canadian Chamber of […]

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]]> PIAC reiterates objections to pension super-priority bill https://www.benefitscanada.com/pensions/defined-benefit-pensions/piac-reiterates-objections-to-pension-super-priority-bill/ Tue, 25 Oct 2022 14:11:29 +0000 https://www.benefitscanada.com/?p=128849 The Pension Investment Association of Canada is reiterating its concerns about Bill C-228, which was designed to protect members of defined benefit pension plans during windups. “PIAC shares the same concern as the [House of Commons] standing committee on finance that pension security is paramount for our members,” wrote Peter Waite, executive director of the […]

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]]> Top 5 HR, benefits, pension and investment stories of the week https://www.benefitscanada.com/news/bencan/top-5-hr-benefits-pension-and-investment-stories-of-the-week-9/ Fri, 21 Oct 2022 13:00:16 +0000 https://www.benefitscanada.com/?p=128824 An article about an open letter that highlighted how proposed amendments to the federal Bankruptcy and Insolvency Act could have a positive impact on defined benefit plan members was the most-read story on BenefitsCanada.com over the last week. Here are the five most popular news stories of the week: 1. Amendments to insolvency legislation would secure DB pensions, […]

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