While the Canadian Life and Health Insurance Association generally supports the Canadian Association of Pension Supervisory Authorities’ proposed guideline on defined contribution pension plans, certain areas require further clarification. “We recognize that some service providers may require substantial lead time to enhance administrative systems to incorporate functionality, such as capturing and reporting indirect fees, that may not currently exist,” […]
Between 2012 and 2016, Canada’s total private drug claims market increased by a 4.7 per cent compound annual growth rate, according to new research by Innovative Medicines Canada. The analysis, which is based on IQVIA Inc.’s Canadian private drug plan claims database, aims to highlight the key drivers of private drug plan cost growth for the period. “Often the […]
Pharmacare and flexible annuity options top the Canadian Life and Health Insurance Association’s list of recommendations for the upcoming 2019 federal budget. In its submission, the association stated it’s supportive of the work being done through the federal government’s advisory council on the implementation of pharmacare, introduced in last year’s budget. However, it also said it’s important to […]
The job of a pension consultant has evolved considerably over Bita Jenab’s 30-year career in the field. The mid-1990s saw a greater focus on governance and the arrival of the investment consultant, while the 2000s featured a mass move to defined contribution plans and significant changes to pension legislation. Through all of that, plan sponsors […]
The Canadian Life and Health Insurance Association has elected Mark Sylvia, president and chief executive officer of the Empire Life Insurance Co., as its new chair. According to the association, Sylvia will work alongside chair-elect Alka Gautam, president and chief executive officer of RGA Life Reinsurance Co. of Canada, and past chair Paul Mahon, president […]
While a new report shows that introducing a tax on employer-paid health benefits would add $3.8 billion to the federal government’s coffers in the 2018 tax year, it would also dramatically raise health-care costs for many Canadians, according to the Canadian Life and Health Insurance Association. Tasked with measuring the federal fiscal impact of including employer-paid health […]
A new group has emerged to oppose the Canadian Life and Health Insurance Association’s new guideline around disclosing compensation paid to intermediaries in group benefits and group retirement services. The National Coalition of Benefit Advisors has taken shape over the past six weeks, according to Robert Taylor, managing director of Vancouver-based TRG Group Benefits & Pensions […]
Advisors are making it clear they want to be a part of the conversation as the Canadian Life and Health Insurance Association develops its new compensation disclosure guideline. “That is an important reason for why we took the immediate step of pushing back the implementation starting date to Jan. 1, 2019, so as to allow for sufficient […]