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 […]
As a fresh-faced elementary school student in 1977, Aaron Bennett wasn’t quite in the target demographic for the freshly launched Benefits Canada magazine. Still, Bennett — now the chief investment officer at Ontario’s University Pension Plan — has a pretty firm grasp on the concerns that would have occupied the minds of his predecessors as […]
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 […]
An article on virtual health-care findings in the 2022 Benefits Canada Healthcare Survey was the most-read story on BenefitsCanada.com over the last week. Here are the five most popular news stories of the week: 1. 88% of benefits plan sponsors satisfied with virtual health-care offerings: BCHS 2. OTG Management using earned-wage access cards to help employees contend with […]
The Association of Canadian Pension Management and the Pension Investment Association of Canada are among the organizations saying proposed amendments to the federal Bankruptcy and Insolvency Act could negatively impact defined benefit pension plans. In an open letter to the House of Commons standing committee on finance, the ACPM and the PIAC — along with […]
The Association of Canadian Pension Management is taking aim at the Alberta government’s funding rules for private sector defined benefit pension plans. In its response to consultation draft of potential legislative and policy updates for private sector pension laws, the ACPM wrote that the province’s existing funding requirements fail to appropriately balance benefit security with […]
The Pension Investment Association of Canada is providing feedback on the Alberta government’s consultation draft of potential legislative and policy updates for private sector pension laws. While the PIAC doesn’t have specific views on how to calculate the provision for adverse deviation, it’s encouraged Alberta is considering a harmonized approach, wrote Sean Hewitt, chair of […]
After a tough couple of years, Canadians continue to face several challenges against an increasingly turbulent economic landscape. While most coronavirus restrictions were lifted in late spring 2022, the seventh wave of the pandemic arrived in July alongside rising inflation, which is compounding prices from the gas pump to the grocery store. Though the 2022 […]
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 […]
The Pension Investment Association of Canada is providing feedback on the consultation draft of revisions to the Canadian Association of Pension Supervisory Authorities’ guidelines for capital accumulation plans. If the guidelines are to be considered a minimum standard for plan administration, the increased responsibilities may act as a deterrent to employers choosing to make a […]