For any pension plan administrator looking for guidance around governance responsibilities, look no further than the Canadian Association of Pension Supervisory Authorities’ guideline No. 4. The guideline, which was originally published in 2004, offers a principles-based approach, recognizing there’s no one-size-fits-all solution to governance and leaving implementation up to the plan administrator. The guideline and its accompanying […]
Common Wealth is teaming up with James Evans and Associates Ltd. to support the former’s retirement plans with member-focused, self-service plan administration and record-keeping technology. JEA’s technology allows employers with capital accumulation plans to access certain customization tools, including plan design, branding, communication and education for members. It also incorporates features like default investment choices and auto-escalation. Read: Nest Wealth launches group […]
A 9.7 per cent net return for 2017 has helped the Ontario Teachers’ Pension Plan report a funded status of 105 per cent in its annual report. Among the highlights of the report was the plan’s intention to use its funding surplus as a contingency fund to support the long-term goal of maintaining steady contribution and benefit […]
The Ontario Pension Board posted a return of 10.8 per cent in 2017, an increase on its return of 8.1 per cent in 2016. The pension fund’s investment income for the year was $2.5 billion, up from $1.75 billion in 2016. Its net assets were $26.4 billion, an increase from the end of 2016 when they sat at $24.4 […]
When Sears Canada Inc. announced it was going to liquidate its stores in 2017, the chain’s demise was a big concern for pension plan members worried about a big deficit in the company’s defined benefit plan. But also among the parties affected were some of Canada’s largest pension funds, which own more than two dozen […]
Datuk Ben Chan will be the Ontario Teachers’ Pension Plan’s regional managing director for the Asia-Pacific starting June 1, 2018. “I am thrilled to welcome Ben to the Ontario Teachers’. I am sure that he will make an immediate contribution to our activities, given his long track record as an impactful investor and supportive collaborator […]
A group of Sears Canada Inc. pensioners will ask the Ontario Superior Court of Justice on Thursday to appoint a litigation trustee to review certain actions leading up to the company’s restructuring proceedings in 2017. According to a notice of motion filed on Feb. 9, 2018, former Ontario Superior Court justice Frank Newbould, the group’s proposed trustee, would review, among other […]
Members of the Canadian Union of Public Employees Local 561 in Coquitlam, B.C., have voted to transfer active employees from the School District No. 43 non-teaching pension plan into the British Columbia Municipal Pension Plan. Terms of the deal include a four per cent wage increase to cover the difference in pension contributions between the two […]
When it comes to issues such as medical marijuana, it’s important to draft tightly worded benefits plans, according to a Toronto lawyer. Ross Gascho, a partner at Fasken Martineau DuMoulin LLP, was one of the speakers at the firm’s pension, benefits and litigation seminar in Toronto on Thursday. Gascho looked at two case studies involving coverage of medical […]
Bankruptcy and its impact on company’s pension plans was a big story in 2017, with Sears Canada Inc. and Stelco Inc. grabbing the most headlines of the year. Benefits Canada rounds up your favourite pension stories of 2017: Sears faces $300M retirement benefit shortfall as retailer seeks CCAA protection 2017 Top 100 Pension Funds Report: The evolution of DB […]