PfAD – Benefits Canada.com https://www.benefitscanada.com Canada's most influential pension and benefits publication for decision-makers Thu, 21 Nov 2024 20:48:06 +0000 en-US hourly 1 https://wordpress.org/?v=4.9.8 Ontario’s target-benefit framework too prescriptive, could lead to increased plan costs: ACPM https://www.benefitscanada.com/pensions/governance-law/ontarios-target-benefit-framework-too-prescriptive-could-lead-to-increased-plan-costs-acpm/ Wed, 28 Aug 2024 19:00:38 +0000 https://www.benefitscanada.com/?p=159557 Ontario’s proposed regulatory framework for target-benefit pension plans includes requirements that are more prescriptive than other jurisdictions and could result in additional costs and reduced benefits for plan members, said the Association of Canadian Pension Management. In an open letter, the ACPM noted the inclusion of policies — such as those determining funding and benefits, […]

The post Ontario’s target-benefit framework too prescriptive, could lead to increased plan costs: ACPM appeared first on Benefits Canada.com.

]]> ACPM urging Ontario to remove burdensome requirements from proposed target-benefit pension framework https://www.benefitscanada.com/pensions/governance-law/acpm-urging-ontario-to-remove-burdensome-requirements-from-proposed-target-benefit-pension-framework/ Thu, 29 Jun 2023 13:00:21 +0000 https://www.benefitscanada.com/?p=140518 The Association of Canadian Pension Management is urging the Ontario government to ensure its proposed rules for multi-employer target-benefit pension plans don’t undermine existing incentives that enable employers to create and maintain workplace pension plans. In an open letter, the ACPM said it believes the provision for adverse deviation will overly restrict the ability of MEPP trustees to manage […]

The post ACPM urging Ontario to remove burdensome requirements from proposed target-benefit pension framework appeared first on Benefits Canada.com.

]]> ACPM urging CAPSA to prioritize decumulation in draft 2023-2026 strategic plan https://www.benefitscanada.com/pensions/governance-law/acpm-urging-capsa-to-prioritize-decumulation-in-draft-2023-2026-strategic-plan/ Thu, 16 Mar 2023 13:00:31 +0000 https://www.benefitscanada.com/?p=135336 The Association of Canadian Pension Management is encouraging the Canadian Association of Pension Supervisory Authorities to prioritize decumulation in its draft 2023-2026 strategic plan. In an open letter to the CAPSA, the ACPM recommended the strategic plan address all potential decumulation income sources beyond defined contribution pension assets, noting that, while a focus on these […]

The post ACPM urging CAPSA to prioritize decumulation in draft 2023-2026 strategic plan appeared first on Benefits Canada.com.

]]> Top 5 HR, benefits, pension and investment stories of the week https://www.benefitscanada.com/news/bencan/top-5-hr-benefits-pension-and-investment-stories-of-the-week-21/ Fri, 27 Jan 2023 14:00:34 +0000 https://www.benefitscanada.com/?p=133099 An article on how British Columbia’s amended definition of provision for adverse deviation will impact the province’s target-benefit pension plans was the most-read story on BenefitsCanada.com over the last week. Here are the five most popular news stories of the week: 1. B.C.’s amended PfAD to provide more flexibility to target-benefit pension plans: experts 2. BNP Paribas expanding […]

The post Top 5 HR, benefits, pension and investment stories of the week appeared first on Benefits Canada.com.

]]> B.C.’s amended PfAD to provide more flexibility to target-benefit pension plans: experts https://www.benefitscanada.com/pensions/governance-law/b-c-s-amended-pfad-to-provide-more-flexibility-to-target-benefit-pension-plans-experts/ Fri, 20 Jan 2023 14:00:10 +0000 https://www.benefitscanada.com/?p=132808 British Columbia’s amended definition of provision for adverse deviation will provide additional flexibility to the province’s target-benefit pension plans, according to experts. The changes to the PfAD’s definition lowers the minimum funding requirement to 7.5 per cent and allows a supplementary percentage identified by the target-benefit plan administrator or board as appropriate to achieve the […]

The post B.C.’s amended PfAD to provide more flexibility to target-benefit pension plans: experts appeared first on Benefits Canada.com.

]]> How InBenefits is aiming to prove the potential of target-benefit pensions https://www.benefitscanada.com/archives_/benefits-canada-archive/how-inbenefits-is-aiming-to-prove-the-potential-of-target-benefit-pensions/ Fri, 18 Nov 2022 13:53:09 +0000 https://www.benefitscanada.com/?p=129492 Alain Malaket has a nuanced perspective on risk — one informed by his experiences as a third-party administrator, pension regulator, consultant, pension plan director and motorcyclist. Today, InBenefits’ chief executive officer’s perspective informs his interest in alternative pension models. Put simply, he believes people don’t make the best decisions about safeguarding their futures. It’s a […]

The post How InBenefits is aiming to prove the potential of target-benefit pensions appeared first on Benefits Canada.com.

]]> Ontario seeking feedback on framework for target-benefit pension plans https://www.benefitscanada.com/pensions/governance-law/ontario-seeking-feedback-on-framework-for-target-benefit-pension-plans/ Thu, 17 Nov 2022 18:00:53 +0000 https://www.benefitscanada.com/?p=129981 In its fall economic statement, the Ontario government said it will ask stakeholders to provide feedback this winter on a draft framework for target-benefit pension plans. “Implementation of a permanent target-benefit framework would pave the way for more employers to offer workplace pension plans, increasing the opportunities for workers to save for their retirement,” said the […]

The post Ontario seeking feedback on framework for target-benefit pension plans appeared first on Benefits Canada.com.

]]> CIA supporting going-concern plus regime, auto features in Alberta’s private sector pensions https://www.benefitscanada.com/pensions/governance-law/cia-supporting-going-concern-plus-regime-auto-features-in-albertas-private-sector-pensions/ Mon, 07 Nov 2022 14:00:53 +0000 https://www.benefitscanada.com/?p=129415 The Canadian Institute of Actuaries is supporting several of the Alberta government’s proposed legislative and policy updates for private sector pension laws, including the move towards a going-concern plus regime for defined benefit plans and the introduction of automatic features in defined contribution plans. In its response to the consultation draft, the CIA cited the benefits […]

The post CIA supporting going-concern plus regime, auto features in Alberta’s private sector pensions appeared first on Benefits Canada.com.

]]> B.C. amending definition of PfAD for pension plans with target-benefit provisions https://www.benefitscanada.com/pensions/governance-law/b-c-amending-definition-of-pfad-for-pension-plans-with-target-benefit-provisions/ Mon, 17 Oct 2022 13:00:05 +0000 https://www.benefitscanada.com/?p=128591 British Columbia is amending the definition of provision for adverse deviation for pension plans in the province with a target-benefit provision. The changes to PfAD’s definition, which will come into effect on Dec. 31, 2022, reflects recommendations from the B.C. Financial Services Authority to the Ministry of Finance. The amendments will lower the minimum funding […]

The post B.C. amending definition of PfAD for pension plans with target-benefit provisions appeared first on Benefits Canada.com.

]]> PIAC providing feedback on potential updates to Alberta’s private sector pension legislation https://www.benefitscanada.com/pensions/governance-law/piac-providing-feedback-on-potential-updates-to-albertas-private-sector-pension-legislation/ Thu, 22 Sep 2022 13:00:05 +0000 https://www.benefitscanada.com/?p=127216 The Pension Investment Association of Canada is providing feedback on the Alberta government’s consultation draft of potential legislative and policy updates for private sector pension laws. While the PIAC doesn’t have specific views on how to calculate the provision for adverse deviation, it’s encouraged Alberta is considering a harmonized approach, wrote Sean Hewitt, chair of […]

The post PIAC providing feedback on potential updates to Alberta’s private sector pension legislation appeared first on Benefits Canada.com.

]]>