The Canadian Association of Pension Supervisory Authorities is establishing a new committee with a mandate to develop a risk management guideline for pension plans. The committee has been established in response to the International Monetary Fund’s call to regulators to strengthen their oversight of large pension plans and gain a greater understanding of vulnerabilities in […]
The average Ontario defined benefit pension plan is in the best funded position since December 2009, according to the Financial Services Regulatory Authority of Ontario’s latest quarterly solvency report. It found 81 per cent DB plans had a solvency ratio greater than 100 per cent at the end of 2021, compared to 67 per cent […]
The Financial Services Regulatory Authority of Ontario is consulting on proposed pension benefits guarantee fund assessment deadlines and calculations guidance, which is designed to assist plan administrators in maintaining compliance with the Pension Benefits Act. The proposed guidance includes: that the deadline for paying the assessment is nine months after the fiscal year end, whether the pension plan […]
The Office of the Superintendent of Financial Institutions and the Financial Services Regulatory Authority of Ontario are putting forward six recommendations for strengthening the Canadian Association of Pension Supervisory Authority’s capital accumulation plan guidelines. In a webinar hosted in November 2021, the regulators shared the outcomes of its technical advisory committee and solicited feedback from the […]
Asset managers have responded to a growing demand from investors for socially responsible investing, with pledges to integrate environmental, social and governance factors into the way they invest. But investors are skeptical that companies are making as much progress as they say. More than three-quarters (77 per cent) of Canadian institutional investors believe companies are overstating […]
An eight-year legal effort to reverse a law that transformed New Brunswick’s public sector pension plan away from an indexed defined benefits model is being scrapped. Pension Coalition NB, an association that represents 13,000 public sector retirees in the province, will end its legal efforts to oppose a 2013 bill that transformed N.B.’s public sector pensions […]
The shift to hybrid and remote work models during the ongoing coronavirus pandemic is one of several issues impacting pension plan and group benefits administrators in 2022, said Michael Wolpert, a pensions and benefits lawyer at Fasken Martineau DuMoulin LLP, during a webinar on Jan. 13 hosted by the Canadian Pension & Benefits Institute. Specifically, […]
Members of Puerto Rico’s public sector pension plans are facing a benefits freeze and the transformation of their defined benefits plans to defined contribution plans. The decision to cut changed the plans was made as a result of an ongoing financial crisis in the most populous U.S. territory. After it defaulted on bonds in 2014, politicians […]
Asset managers that incorporate climate change into their investment processes are increasingly looking beyond commitments to net zero and exploring the impact on asset valuation, said Michelle Dunstan, chief responsibility officer at AllianceBernstein, during a session at the Canadian Investment Review‘s 2021 Investment Innovation Conference. “A changing climate can be described both in terms of […]
The Association of Canadian Pension Management is once again calling on the Ontario government to modernize the Employment Standards Act and the Pension Benefits Act to allow for automatic enrolment and escalation features in capital accumulation plans. In a letter sent to the ministry of labour on Nov. 30, 2021, the ACPM noted the changes […]