The government of Nova Scotia has introduced a new Pension Benefits Act, which would enable private sector pension plan members and retirees to know more about their employer-sponsored plans and employers to have more plan design options.
Canada’s pension system rounds out the top 10 of the most stable systems in the world, according to research by Allianz Global Investors.
Federal tax rules are preventing many Canadians—especially those in the private sector—from saving enough for retirement, according to a report released by the C.D. Howe Institute and co-authored by James Pierlot, a member of Benefits Canada’s online expert panel. The report, Legal for Life: Why Canadians Need a Lifetime Retirement Saving Limit, says that workers […]
Canada has held on to its fifth place ranking in a global comparison of pension systems, but significant reform is still needed. According to the 2011 Melbourne Mercer Global Pension Index, many of the world’s retirement systems are under significant stress and even the most advanced pension systems—including Canada’s—require ongoing reform to ensure they’re robust […]
I was asked recently to speak at the IFEB Conference on the topic “The Collision of Pension Reform and Poor Investment Returns.” I didn’t choose this topic; I inherited it. But I was both intrigued and somewhat disturbed by what it implied. I was intrigued because of the powerful image it invoked. Here you have […]
Pension, health and welfare reform in many countries has created significant challenges for multinational companies looking to manage the cost, risk and competitiveness of employee benefit programs, says Mercer. According to Mercer’s latest Benefit Plans Around the World Report (BPAW Report), pension and health reforms, prompted by an aging population and the growing cost of […]
A New Brunswick task force charged with reviewing pension reform wants to hear what you think. The task force is examining new forms of risk management practices and regulatory structures adopted by other jurisdictions, and assessing whether these concepts can be adapted in New Brunswick. The three-member panel of pension experts includes Paul McCrossan, an […]
The Public Sector Pension Investment Board’s annual report boasted a healthy 14.5% return for the 2011 fiscal year, resulting in a gain of $7 billion and an approximate $58 billion in net assets for the year ending March 31, 2011. However, despite these positive figures, the public sector DB plan has been under attack from […]
After the economic turmoil that defined 2008 and decimated assets in many pension plans, few expected the turnaround in markets that occurred in 2009. In last year’s Top 100 Pension Funds Report, 66 of the funds on the list posted double-digit increases in assets for 2009. Only eight ended the year with decreases. While many […]
Watch this video Since the announcement of pooled registered pension plans (PRPPs) by the Federal government, plan sponsors and industry experts have been supportive of the idea. However, everyone is curious, and a bit cautious, to see just how they will work in practice. Frank Swedlove, president of the Canadian Life and Health Assurance Association, […]