multi-jurisdictional pension plan – Benefits Canada.com

ACPM urging Ontario to remove burdensome requirements from proposed target-benefit pension framework

lbailey — Thu, 29 Jun 2023 13:00:21 +0000

The Association of Canadian Pension Management is urging the Ontario government to ensure its proposed rules for multi-employer target-benefit pension plans don’t undermine existing incentives that enable employers to create and maintain workplace pension plans. In an open letter, the ACPM said it believes the provision for adverse deviation will overly restrict the ability of MEPP trustees to manage […]

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Manitoba, NL formally join multi-jurisdictional pension plan agreement

Gideon Scanlon — Tue, 16 May 2023 16:30:43 +0000

Manitoba and Newfoundland and Labrador have officially ratified an agreement on multi-jurisdictional pension plans, which will come into effect on July 1. In March, the two provinces announced their intention to sign the agreement, which had previously been adopted by every other province except Prince Edward Island. The agreement’s adoption was contingent on an amended […]

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ACPM urging Retraite Québec to streamline approach to actuarial solvency valuations

bwolfe — Wed, 26 Apr 2023 13:00:53 +0000

The Association of Canadian Pension Management is urging Retraite Québec to streamline its approach to actuarial solvency valuations for pension plans with members outside of the province. In an open letter, the ACPM requested the regulator either reconsiders its position on actuarial solvency valuations or grant exemptions to allow only one valuation to be carried […]

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Manitoba, NL to sign onto agreement for multi-jurisdictional pension plans

Jennifer Paterson — Thu, 30 Mar 2023 13:00:59 +0000

Manitoba and Newfoundland and Labrador are signing the 2020 agreement respecting multi-jurisdictional pension plans, effective July 1, 2023. The agreement, which was introduced in June 2020 and replaced the 2016 version, was initially signed by the federal government and the provincial governments of British Columbia, Alberta, Saskatchewan, Ontario, Quebec, New Brunswick and Nova Scotia. Once adopted by all […]

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FSRA releases final guidance on impact of marriage breakdown on pension benefits

bwolfe — Fri, 12 Nov 2021 20:00:01 +0000

The Financial Services Regulatory Authority of Ontario is clarifying its guidance on the administration of pension benefits upon marriage breakdown. The final guidance, which came into effect on Nov. 9, 2021, clarifies the FSRA’s position on issues relating to valuation, payment and division and survivor benefits. It stated pension assets are to be valued based on […]

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