Finance Minister Nate Horner says if Alberta abandons the Canada Pension Plan to run its own stand-alone fund, it will not adopt Quebec’s model, which mandates optimizing returns while also investing in the province. His comments come three weeks after Premier Danielle Smith said her government wants to hear from Albertans first before they make […]
Increased volatility, stubborn inflation and erratic interest rates are making for financially uncertain times, where it can be more reassuring to seek safety in shared risk, rather than shouldering financial ambiguity alone. Celebrated for their pooled assets and shared risk, multi-employer pension plans are gaining traction. Tami Dove, director of member experience at the Co-operative […]
The Financial Services Regulatory Authority of Ontario’s proposed guidance on pension plan administrator roles and responsibilities requires more clarity and consistency, according to the Association of Canadian Pension Management. In an open letter, the ACPM recommended greater clarity regarding the distinction between statutory guidance and general commentary, particularly in the sections on records retention and […]
Alberta’s opposition is launching its own survey on whether the province should leave the Canada Pension Plan, saying the government questionnaire is a “sham” and a “unicorn.” New Democratic Party finance critic Shannon Phillips says her party’s survey is to lay out a simple choice for Albertans, asking them whether they think leaving the CPP […]
A report commissioned by the Alberta government estimates the province would be entitled to more than half the assets of the Canada Pension Plan if it were to exit the national retirement savings program and go it alone. A third-party report compiled by consultant LifeWorks Inc. (now part of Telus Health) calculated that if Alberta gave the […]
An article on the 2023 Benefits Canada Healthcare Survey’s findings on plan members’ appreciation of health benefits was the most-read story on BenefitsCanada.com over the last week. Here are the five most popular news stories of the week: 1. 72% of plan members appreciate health benefits more today than before pandemic: survey 2. 54% of benefits plan members currently live […]
The Nova Scotia Labour Board has ordered St. Mary’s University to resume making pension contributions for employees on long-term disability leave, reasoning that the pension committee had no authority to make changes to contribution levels mandated by the plan. “The board found that amendments to the pension plan proposed by the pension committee — the […]
The Ontario government’s new funding framework for target-benefit plans will provide more flexibility for plan administrators and boards, says Domenic Barbiero, principal at Eckler Ltd. The proposed framework requires trustees to establish a number of policies, including funding, benefits, communications and overall governance. “This proposal is the second iteration of a proposal from the Ministry […]
An arbitrator has ruled that a pension grievance filed seven years beyond a collective agreement’s time limit could proceed because of the employer’s “culture of acquiescence” regarding enforcement of the limit. “The message to employers is that if they get in the habit of letting time limits slide, their lack of adherence can come back […]
An article on the Ontario Court of Appeal upholding its decision in the Brewers Retail Inc. pension case was the most-read story on BenefitsCanada.com over the last week. Here are the five most popular news stories of the week: 1. Court of Appeal upholds decision in Brewers Retail pension case 2. Are insurers updating their benefits policies to include […]