A Buck Consultants Advisory out today reminds pension plan sponsors that Ontario and Quebec multi-jurisdictional plans will be subject to the new Agreement Respecting Multi-Jurisdictional Pension, effective July 1. Rules under the new agreement The new agreement provides that multi-jurisdictional pension plans will be supervised by the regulator of the jurisdiction (the “major authority”) with […]
Effective July 12, 2010 the Superintendent’s permission to transfer assets related to DC provisions was removed from the Pension Benefits Standards Act. As a result, the Office of the Superintendent of Financial Institutions (OSFI) has issued a Guidance Note to inform the pension industry of OSFI’s expectations when such a transfer occurs, including transfers from […]
The treatment and protection of members’ accrued pensions in an underfunded DB pension plan following the insolvency of the plan sponsor has been the subject of many discussions since the 2008 financial crisis. Consultation papers, private members’ legislation and employee and union advocacy groups have all proposed (albeit unsuccessfully, at least to date) methods of […]
And why you need a strong governance framework.
A group of nuns in the U.S. are suing the Boston Archdiocese and their cardinal over $1.4 million of pension funds. The Daughters of St. Paul filed a lawsuit at the Massachusetts Supreme Judicial Court demanding the right to withdraw the funds they invested in a church-run pension fund on behalf of their staff. The […]
CalPERS and its governance lapses.
That's the case for $140 billion US plan.
Advantages and disadvantages of one size fits all.
Benchmarking, Fee Structure and other issues.
Beware of the risks and unintended consequences.