Great-West Life has launched a new website, at vrsp-greatwestlife.com, to help Quebec businesses set up their company’s voluntary retirement savings plans (VRSPs), once legislation has passed. VRSPs are expected to be available Jan. 1, 2013.
Canada's Pooled Registered Pension Plans Act was passed by the House of Commons yesterday.
Governments around the globe will need to gradually increase their retirement ages in order to keep their pension systems sustainable, according to a new report from the Organisation for Economic Co-operation and Development (OECD).
The Financial Services Commission of Ontario (FSCO) has published its first administrative position concerning one of the recent amendments to the Pension Benefits Act of Ontario (PBA).
The Financial Services Commission of Ontario (FSCO) has announced changes to the new Pension Benefits Act grow-in rules, providing an opt-out provision for jointly sponsored pension plans (JSPPs) and multi-employer pension plans (MEPPs).
Canada needs to look to target benefit plans if we are to have achieve adequate retirement savings, says the Association of Canadian Pension Management (ACPM) in its new Target Benefit Plan Paper.
It seems the idea of expanding the Canada Pension Plan doesn’t die easily. The NDP hasn’t let it go, nor has the Ontario government who, with their March 27 budget, reiterated their preference for a “modest, phased-in expansion of CPP” over pooled registered pension plans (PRPPs).
British Columbia's pension reform is another step closer to reality. The province's bill 38, the Pension Benefits Standards Act (PBSA), was introduced on April 30, 2012, and received Royal Assent last week, on May 31. The legislation and accompanying regulations are expected to come into force some time after Jan. 1, 2013.
A bill has been introduced into New Brunswick’s provincial legislature today aimed at repealing the City of Saint John Pension Act, reports Cbc.ca.
The pooled registered pension plan (PRPP) announced by the federal government last year is the first step in the reforms needed to extend pension coverage to the more than 60% of the Canadian workforce not currently enrolled in a workplace plan. However, as the Ontario government hinted in its recent budget, there are a number of challenges with the PRPP design.