pension administration – Benefits Canada.com https://www.benefitscanada.com Canada's most influential pension and benefits publication for decision-makers Mon, 18 Nov 2024 21:50:49 +0000 en-US hourly 1 https://wordpress.org/?v=4.9.8 How CAPSA’s fee transparency guidance is impacting plan sponsors https://www.benefitscanada.com/pensions/governance-law/how-capsas-fee-transparency-guidance-is-impacting-plan-sponsors/ Thu, 14 Nov 2024 14:00:09 +0000 https://www.benefitscanada.com/?p=162798 The Canadian Association of Pension Supervisory Authorities’ new plan sponsor guidelines surrounding investment fee transparency are a good first step, but require further development to make them more effective, says one expert. “[CAP sponsors are] still trying to understand what this [guidance] means,” says Joseph Bevilacqua, associate partner in Aon’s wealth solutions practice. “Fees can be […]

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]]> Nova Scotia to allow unlocking of pension benefits https://www.benefitscanada.com/pensions/governance-law/nova-scotia-to-allow-unlocking-of-pension-benefits/ Mon, 11 Nov 2024 14:00:20 +0000 https://www.benefitscanada.com/?p=162526 The Nova Scotia government is updating the provincial Pension Benefits Act to allow the unlocking of pension benefits. Effective April 1, 2025, plan members aged 55 and older will have a one-time ability to unlock up to 50 per cent of their locked-in funds when transferring to a life income fund. Read: Quebec’s amendment to […]

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]]> Expert panel: How will CAPSA’s risk management guideline impact pension plan administrators? https://www.benefitscanada.com/expertpanel_/gavin-benjamin/expert-panel-how-will-capsas-risk-management-guideline-impact-pension-plan-administrators/ Thu, 17 Oct 2024 13:00:37 +0000 https://www.benefitscanada.com/?p=161349 The Canadian Association of Pension Supervisory Authorities’ guideline for risk management provides that plan administrators should create a framework to identify, evaluate, manage and monitor their plan’s material risks. The guideline encourages plan administrators to prepare a written statement with the plan’s risk appetite, risk tolerance and risk limits and that these elements are reflected […]

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]]> Sounding Board: What employers need to know about CAPSA’s 2024 CAP guideline https://www.benefitscanada.com/pensions/cap/sounding-board-what-employers-need-to-know-about-capsas-2024-cap-guideline/ Thu, 03 Oct 2024 13:00:55 +0000 https://www.benefitscanada.com/?p=160820 After a two-year consultation period, the Canadian Association of Pension Supervisory Authorities released its 2024 guideline for capital accumulation plans in September. With a focus on improving plan governance and member outcomes, the 2024 guideline significantly increases compliance responsibilities for CAP sponsors. Updated regulatory guidelines are rarely shorter than their predecessors and the 2024 CAP […]

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]]> How CAPSA’s updated CAP guideline will impact plan sponsors, members https://www.benefitscanada.com/pensions/governance-law/how-capsas-updated-cap-guideline-will-impact-plan-sponsors-members/ Tue, 24 Sep 2024 13:00:18 +0000 https://www.benefitscanada.com/?p=160449 While the Canadian Association of Pension Supervisory Authorities’ updated capital accumulation plan guideline contains several key updates with regard to plan sponsor and member responsibilities, smaller plan sponsors may face administrative challenges in applying the guidance, says Jordan Fremont, a partner at Stikeman Elliott LLP’s pensions and benefits group. “Because [the guideline] is so detailed, I […]

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]]> Ontario’s target-benefit framework too prescriptive, could lead to increased plan costs: ACPM https://www.benefitscanada.com/pensions/governance-law/ontarios-target-benefit-framework-too-prescriptive-could-lead-to-increased-plan-costs-acpm/ Wed, 28 Aug 2024 19:00:38 +0000 https://www.benefitscanada.com/?p=159557 Ontario’s proposed regulatory framework for target-benefit pension plans includes requirements that are more prescriptive than other jurisdictions and could result in additional costs and reduced benefits for plan members, said the Association of Canadian Pension Management. In an open letter, the ACPM noted the inclusion of policies — such as those determining funding and benefits, […]

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]]> Ontario court rules employer not obligated to preserve past service benefits https://www.benefitscanada.com/pensions/defined-benefit-pensions/ontario-court-rules-employer-not-obligated-to-preserve-past-service-benefits/ Mon, 15 Jul 2024 13:00:30 +0000 https://www.benefitscanada.com/?p=158054 Ontario’s small claims court has ruled that an employer’s letter, which described the benefits coverage that would exist following a divestment as ‘comparable’ to prior levels of coverage, didn’t create a contractual obligation to preserve past service benefits. “The decision makes a clear distinction between an informational announcement or other general information that is not […]

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]]> Top 5 HR, benefits, pension and investment stories of the week https://www.benefitscanada.com/news/bencan/top-5-hr-benefits-pension-and-investment-stories-of-the-week-88/ Fri, 28 Jun 2024 13:00:38 +0000 https://www.benefitscanada.com/?p=157562 An article on the benefits of tailoring an individual’s work schedule around their circadian rhythm and optimum times of productivity was the most-read story on BenefitsCanada.com this past week. Here are the top five human resources, benefits, pension and investment stories of the last week: 1. How ‘Chronoworking’ is helping boost employee productivity, recruitment 2. FSRA releases final […]

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]]> Editorial: What a difference four years makes https://www.benefitscanada.com/archives_/benefits-canada-archive/editorial-what-a-difference-four-years-makes/ Fri, 10 May 2024 13:00:23 +0000 https://www.benefitscanada.com/?p=155103 Four years ago, as the coronavirus pandemic entered its third month, I unknowingly — and unwittingly — took my first steps towards a new chapter in my career. As a writer for a Canadian travel trade publication, I was suddenly without work as the health crisis brought the global travel industry to a screeching halt. […]

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]]> Coverage of the 2024 DC Plan Summit https://www.benefitscanada.com/events/conference-coverage/coverage-of-the-2024-dc-plan-summit/ Fri, 10 May 2024 12:00:53 +0000 https://www.benefitscanada.com/?p=154734 At the 2024 Defined Contribution Plan Summit, which was hosted in Vancouver on Feb. 27-29, attendees learned about the various challenges and solutions for DC plan sponsors across the accumulation and decumulation phases, including how to cater to different generations’ needs and innovative investment and drawdown options, through expert thought leadership and employer case studies […]

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