JSPP – Benefits Canada.com

CAAT raising DBplus pension factor for calculating benefit payments in 2025

Gideon Scanlon — Tue, 28 Mar 2023 13:00:26 +0000

The Colleges of Applied Arts and Technology pension plan is increasing the pension factor used in its calculation of defined benefit payments from its DBplus plan. For pensions earned after Jan. 1, 2025, members of the jointly sponsored pension plan will see annual payouts increase from 8.5 per cent of their total contributions per annum […]

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Top 5 HR, benefits and pension stories of the week

bwolfe — Fri, 13 May 2022 13:00:18 +0000

An article on the potential future of pension plans in the private sector 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: Are private sector employers heading toward a pension renaissance? 2. A third of Canadian employees retiring sooner than planned: survey 3. Mental-health […]

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Expert panel: Are private sector employers heading toward a pension renaissance?

bwolfe — Tue, 10 May 2022 13:05:23 +0000

Pension coverage in the public sector is high, with the vast majority of public sector employees covered by a defined benefit pension plan. However, the story is very different in the private sector as pension coverage is much lower and is trending downwards. Only 22 per cent of private sector employees participated in a registered […]

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University Pension Plan tackling ESG issues by joining 30% Club, CCGG and SHARE

mdunne — Fri, 16 Jul 2021 19:00:40 +0000

The newly minted University Pension Plan is tackling environmental, social and governance issues head on by partnering with the 30% Club, Canadian Coalition for Good Governance and Shareholder Association for Research and Education. Read: University Pension Plan launches multi-employer DB pension plan Joining the 30% Club will help the UPP make greater representation of women on […]

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University Pension Plan launches multi-employer DB pension plan

lbailey — Fri, 02 Jul 2021 13:00:51 +0000

The University Pension Plan is launching its jointly sponsored pension plan, providing management services to the Queen’s University, the University of Guelph and the University of Toronto. The plan, which was established on Jan. 1, 2020, officially launched on July 1, 2021. The UPP is a new jointly sponsored pension plan designed to enhance the long-term sustainability […]

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2020 Top 100 Pension Funds Report: How have Canada’s DB pensions changed over the last decade?

mschmit — Fri, 14 Aug 2020 04:56:30 +0000

Whether it’s battling the challenges of plan maturity, increasing longevity, the changing nature of work or difficult financial markets, these so-called golden handcuffs are looking pretty dented in some cases. But the 10 years following the great financial crisis wasn’t all bad. Many public pension plans, as well as affiliated administrators and investment managers, have […]

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CRA pension bulletin shouldn’t apply to MEPPs, JSPPs, says ACPM

mschmit — Tue, 28 Jul 2020 05:15:55 +0000

In a letter to the Canada Revenue Agency’s registered plans directorate, the Association of Canadian Pension Management said a new draft bulletin only covers a concern attached to smaller pension plans and shouldn’t apply to larger, employer-sponsored plans. The ACPM said it recognizes the agency’s efforts in providing guidance on apportioning assets and actuarial liabilities in actuarial valuation reports for […]

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OPSEU members latest to join OPTrust Select

mschmit — Wed, 17 Jun 2020 11:15:33 +0000

Workplaces represented by the Ontario Public Service Employees Union are among the latest employers to join the OPSEU Pension Trust’s defined benefit plan, OPTrust Select. “This isn’t just a victory for the new members of OPTrust Select, it’s a victory for nearly a million workers across Ontario who don’t yet have the security of a […]

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Tips for moving from a single-employer to a jointly sponsored pension plan

mschmit — Fri, 15 May 2020 04:57:53 +0000

The United Way Greater Toronto introduced a defined benefit pension plan in 1965 and moved to a hybrid plan in 1990. While the DB side was fully paid by the employer, the defined contribution component allowed employees to contribute up to four per cent of their annual salary with a 50 per cent employer match. […]

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Regulatory reform required to address today’s workplace pension landscape: report

mschmit — Thu, 14 May 2020 06:30:03 +0000

Canadian pension rules and regulations are in need of reform in order to properly address the reality of the 21st century workplace pension landscape, according to a new report by the C.D. Howe Institute. The report, authored by Bob Baldwin, a pension industry veteran and chair of the C.D. Howe’s pension policy council, argued that the […]

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