Alain Malaket has a nuanced perspective on risk — one informed by his experiences as a third-party administrator, pension regulator, consultant, pension plan director and motorcyclist. Today, InBenefits’ chief executive officer’s perspective informs his interest in alternative pension models. Put simply, he believes people don’t make the best decisions about safeguarding their futures. It’s a […]
A new report from the C.D. Howe Institute says pension plan fiduciaries shouldn’t ignore climate change and other environmental, social, and governance factors that are relevant to financial purposes. However, when plan fiduciaries use ESG factors to prioritize social or environmental concerns, such as those expressed by plan members, they put themselves on shaky legal […]
An article on the strike by Ontario education 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. CUPE’s Ontario education workers striking for extended benefits, wage increases 2. Stellantis, Unifor agreement includes pension and retirement gains 3. Sounding Board: How employers can better support employees […]
The Canadian Institute of Actuaries is advising the Canadian Association of Pension Supervisory Authorities to strengthen its proposed guideline on risks related to environmental, social and governance factors, including consideration for pension plan liabilities and climate-related disclosure. In an open letter to the CAPSA, the CIA suggested including a section on how ESG factors should […]
The Association of Canadian Pension Management is advising the Canadian Association of Pension Supervisory Authorities to take a less prescriptive approach in its proposed guidelines on risks related to environmental, social and governance factors, cybersecurity and leverage. In an open letter to the CAPSA, the ACPM said a one-size-fits-all approach to ESG regulation could potentially […]
Increasingly, defined contribution plan sponsors are grappling with adding environmental, social and governance investing options to their plans as a growing number of members ask for them, but the legal landscape for ESG investing is complicated, according to Kathy Bush, partner at Blake Cassels & Graydon LLP, during Benefits Canada’s 2022 DC Investment Forum in late […]
While defined contribution pension plans currently outnumber defined benefit pension plans, this wasn’t always the case, recalls Bita Jenab, a principal at RetirementWorks Services Inc. DC plans began to gain popularity in the mid-1980s, due to a combination of legislative and economic changes, she adds. “This period marks the introduction of pension accounting rules under […]
With close to two-thirds (62 per cent) of the market committed to investing responsibly, environmental, social and governance investing is no longer a fringe activity, said Sean Cleary, chair of the Institute for Sustainable Finance at Queen University’s Smith School of Business, during the Canadian Investment Review’s 2022 Risk Management Conference. A combination of factors […]
The Canada Pension Plan Investment Board is warning corporate board directors that any companies failing to consider climate risks, adopting multiple-year term lengths or lacking in female representation won’t receive its support during shareholder votes, according to a new report. “How we select investments and hold management accountable to manage these factors can enhance or erode […]
The Association of Canadian Pension Management is cautioning the Canadian Association of Pension Supervisory Authorities on its revisions to guidelines for capital accumulation plans. The draft guidelines could “change the balance of the existing guidelines in a manner that will give many employers pause about starting or continuing CAP plans that are not defined contribution […]