The Pension Investment Association of Canada supports closely aligning the Canadian Sustainability Standards Board disclosure standards with the International Sustainability Standards Board’s requirements but recommends it only make necessary Canadian-specific modifications to the guidance. In an open letter to the CSSB, the PIAC noted alignment between financial and sustainability reporting supports “a connectivity that is essential […]
A renewed call for increased domestic investments by Canadian pension plans isn’t surprising amid an ongoing discussion around the role of investment organizations in supporting the economy, says Malcolm Hamilton, a senior fellow at the C.D. Howe Institute. “I think it’s very natural for Canadian businesses . . . [that] focus on the Canadian economy, not […]
An article on the funded position of Canadian defined benefit pension plans was the most-read story on BenefitsCanada.com. Here are the five top HR, benefit, pension and investment stories of the week: 1. Average DB pension plan’s funded position on solvency basis up in November: report 2. Decision raises questions about dependent contractors’ entitlement to reasonable notice […]
The Pension Investments Association of Canada is calling on the British Columbia government to refrain from setting limits on the type of entities that can offer variable life benefits. In an open letter, the association said a competitive landscape that includes a broad scope of service providers, including registered pension plans, would be beneficial for retirees, noting […]
The Pension Investment Association of Canada will concentrate its legislative advocacy efforts on funding reform in 2024, including for an overhaul of long-term, minimum funding regulations for federally regulated defined benefit pension plans, said David Lawson, the PIAC’s new chair. In an emailed statement to Benefits Canada, he said as DB plan sponsors continue to face […]
The Pension Investment Association of Canada is calling on the B.C. Financial Services Authority to reconsider implementing new standards for climate-related risks analysis guidelines, noting it would be extremely challenging for most pension plans to meet a potential new climate and transition risk review system. In an open letter, the PIAC recommended a principles-based approach to […]
The Pension Investment Association of Canada is urging the federal government to open a comprehensive consultation regarding the cessation of real return bonds. In an open letter, the PIAC said the decision was made without extensive consultations with the primary purchasers of real return bonds, including pension investors. While real return bonds have typically exhibited a lower […]
The Association of Canadian Pension Management, the Canadian Life and Health Insurance Association and the Pension Investment Association of Canada say the Canadian Association of Pension Supervisory Authorities’ draft guideline for capital accumulation plans significantly alters the expectations and industry standards for CAPs. In an open letter, the organizations requested the CAPSA reconvene its industry working […]
The federal government’s plan to consolidate Canada mortgage bonds into the Government of Canada bond program could limit pension funds’ ability to mitigate risk through diversification, according to the Pension Investment Association of Canada. In an open letter to Finance Canada, the PIAC said the move may force institutional investors to choose between accepting lower […]
The Pension Investment Association of Canada is praising the Canadian Association of Pension Supervisory Authorities for addressing the regulatory inconsistencies facing Canada’s defined contribution pension plan sponsors in its draft strategic plan for 2023-2026. “We commend CAPSA for its achievements in engaging with stakeholders to consider evolving regulatory risks and [capital accumulation plan] guideline development,” […]