Shifting demographics have always driven Canadian pension plan design, and the growth of the millennial generation as the largest portion of the workplace is no exception, according to Morneau Shepell Ltd.’s Joseph De Dominicis. “To me, shifting demographics are the key catalyst driving large global trends that in turn influence how we design pension programs, benefits […]
The first two parts of this series explored the first 10 principles of the Canadian Association of Pension Supervisory Authorities’ guidelines on pension governance. As a principles-based framework, the guidelines lay out what to strive for, leaving the how up to plan administrators. The final instalment in this series looks at the 11th principle, which recommends that […]
The Financial Services Commission of Ontario has released its guideline for administrative penalties related to violations of the province’s Pension Benefits Act. The change was introduced at the beginning of 2018, with the superintendent given the authority to impose monetary penalties for certain violations of the act and its regulations. Unlike a fine, these penalties have […]
Using a Canada-model pension plan, employees would see $5.32 in retirement income for every dollar they contribute compared to the typical $1.70 resulting from an individual approach, according to a new report by the Healthcare of Ontario Pension Plan. The report, The Value of a Good Pension, divides Canadian retirement options into five distinct types: an individual […]
The OPSEU Pension Trust’s board of trustees has appointed Tim Hannah as its new chair. Having most recently served as vice-chair, he is replacing Vicki Ringelberg, who will remain on the board. Hannah is a senior environmental officer with the ministry of the environment, conservation and parks, as well as a union activist. Read: Ontario Teachers’ makes three […]
Hub International Ltd. is acquiring Proteus Performance Management Inc. Headquartered in Toronto, Proteus provides specialized pension plan governance and investment consulting to corporate plan sponsors, not-for-profit organizations, trusteed plans, public plans, foundations and endowments. “Proteus is considered among the leaders in the field of governance and investment consulting, and prides itself in providing trusted advice to […]
Perseverance, communication and innovation are just a few of the words used to describe Jeff Aarssen. Aarsseen, the recently retired vice-president of group customer sales at Great-West Life Assurance Co., received the award for industry leadership at Benefits Canada’s 2018 Workplace Benefits Awards in Toronto on Oct. 11. “It’s very meaningful, personally,” says Aarssen. “It means that 38 […]
The International Centre for Pension Management has released a guide for integrating climate change considerations into investment processes. “The ICPM climate change guide is unique from others of its kind because it was written by asset owners for asset owners,” said Deborah Ng, director of strategy and risk at the Ontario Teachers’ Pension Plan and […]
Tension between pension adequacy and sustainability is growing across the world, according to the annual Melbourne Mercer Global Pension Index. The Netherlands and Denmark have the best global pension systems, with scores of 80.3 and 80.2, respectively, and both achieving A grades. They scored highly on adequacy and sustainability, while other European countries, such as Austria, […]
The majority (84 per cent) of organizations in Canada’s non-profit sector said inconsistent revenue or funding is the biggest barrier to offering a pension plan, according to a survey by Common Good Retirement Initiative. Three-quarters (73 per cent) of survey respondents said offering a plan would be too expensive, 59 per cent said it would be […]