The 2013 Ontario budget proposes introducing pooled registered pension plans in the province.
The industry had positive things to say about the expert committee on the future of the Quebec retirement system, led by Alban D’Amours.
A new longevity pension for those over 75 and reformed direct benefit plans are at the heart of proposals to ensure all Quebeckers have sufficient retirement income.
Public-sector workers at the federal, provincial, and municipal level across Canada were more likely to have a registered pension plan and higher wages than their private-sector counter parts in 2011, a new report from the Fraser Institute reveals.
Any pooling of Ontario public sector pension assets must be carried out in a carefully planned manner if members are to realize benefits from such an arrangement, according to a statement from the College and University Retiree Associations of Canada/Associations de retraités des universités et collèges du Canada [CURAC/ARUCC].
A unique aspect of Canada’s private pension system is that the responsibility for regulatory oversight falls primarily within the provincial domain, with the federal government having jurisdiction over minimum standards for certain industries (e.g., transportation and banking). The result is a diverse and relatively complex regulatory framework for employer-sponsored plans. Over the years, many stakeholders […]
One of the enduring myths in the Canadian pension scene is that we have held onto our DB plans more tenaciously than the rest of the world. While many Canadian companies have indeed switched to DC, the impression remains that the trend is not as pronounced as it is in the U.S. or the U.K. […]
Canadians should have the choice to make additional voluntary contributions to the Canada Pension Plan in order to avoid facing a significant decline in living standards when they retire, said Gerry McCaughey, president and CEO of CIBC, in a keynote address at the National Summit on Pension Reform, which kicked off yesterday in Fredericton and ends today.
It seems Canada isn't the only country struggling to get its public sector pension arrangements in line with the private sector.
When the federal government introduced legislation to create pooled registered pension plans (PRPPs) for federally regulated employees in November 2011, it confidently predicted that the provinces would pass their own legislation making PRPPs available to provincially regulated employees. But so far, reaction to the PRPPs from provincial governments has been lukewarm at best.