Culture risk management can be enhanced within existing risk management frameworks, says the Canadian Institute of Actuaries, adding it doesn’t see a need for a separate guideline from the Office of the Superintendent of Financial Institutions. In an open letter responding to the OSFI’s consultation, the CIA said it wants a better understanding of any […]
The union representing Pacific Western Transit Canada workers in Pemberton, Squamish and Whistler, B.C., has ratified a five-year collective agreement that will see members move to the Colleges of Applied Arts and Technology pension plan’s DBplus. Members will contribute three per cent to the plan with an equivalent employer match, says Gavin Davies, a national […]
Stelco Inc. is de-risking one of its defined benefit pension plans with a $1.3 billion annuity buy-in. The deal, which covers more than 7,000 United Steelworkers members and beneficiaries employed at the company’s Hamilton, Ont.-based plant, was completed in May with Brookfield Annuity Co. and Sun Life Financial Inc. Read: Stelco workers, retirees learn fate […]
The Association of Canadian Pension Management is providing feedback on the Accounting Standards Board’s proposed amendments to the Chartered Professional Accountants of Canada’s handbook, including changes to sections covering defined benefit pension plan obligations and amalgamations. In an open letter responding to the board’s proposal, Ric Marrero, chief executive officer of the ACPM, said when […]
The Canadian Association of Pension Supervisory Authorities is seeking feedback on three risk management guidelines. The guidelines will cover pension plans’ use of leverage, cyber risks and environmental, social and governance considerations. In a letter to stakeholders, the CAPSA said it may incorporate these guidelines into a single risk management document that will also cover […]
An article on how pension plans are approaching risk management was the most-read story on BenefitsCanada.com over the last week. Here are the five most popular news stories of the week: 1. Expert panel: Is risk management the new frontier in pension governance? 2. Sun Life completes acquisition of U.S. dental benefits provider 3. 44% of employers believe remote […]
The Alberta government is gathering feedback from stakeholders to help inform potential legislative and policy updates for private sector pension laws. The consultation will focus on the Employment Pension Plans Act and the Employment Pension Plans Regulation, according to a press release, which noted Alberta’s private sector pension legislation hasn’t been significantly updated since 2014. […]
The importance of risk management isn’t new for the majority of defined benefit pension plan sponsors and administrators. The impact of long-term interest rates, market volatility, changing demographics and increasing longevity, inflation concerns, geopolitical events and other large economic, environmental and social factors are all contributing to the need to manage the financial risks associated […]
Scotiabank’s win at Benefits Canada’s 2021 Workplace Benefits Awards led to increased employee engagement and peer recognition, says Rosemary Hatnay, director and head of total rewards solutions and global human resources services. The bank won in the Pension plan communications category for its streamlined approach to its defined benefit plan statements, making essential information more accessible to plan […]
An article on how employers can create health benefits and retirement plans for gig workers was the most-read story on BenefitsCanada.com over the last week. Here are the five most popular news stories of the week: 1. Expert panel: How employers can design health benefits, retirement plans for gig workers 2. Hitachi, Unifor agreement includes DB, DC pension […]