On May 12, Benefits Canada hosted a webinar to discuss the pharmaceutical industry’s efforts during the coronavirus crisis, as well as some key policy issues for Canadian insurers and their potential impact from the private-payer perspective. Since the end of April, 139 coronavirus treatments have been under investigation and Health Canada has approved several clinical trials […]
Canadian pension rules and regulations are in need of reform in order to properly address the reality of the 21st century workplace pension landscape, according to a new report by the C.D. Howe Institute. The report, authored by Bob Baldwin, a pension industry veteran and chair of the C.D. Howe’s pension policy council, argued that the […]
The Pension Investment Association of Canada is calling on provincial governments to allow pension plan sponsors to opt out of making any special payments for a period of six to 12 months or until there’s greater visibility of the end of the fallout from the coronavirus crisis. “We recommend that no conditionality or approval requirements be applied […]
The Canada Revenue Agency is waiving the one per cent minimum required employer contribution on defined contribution pension plans for the remainder of 2020. Registered DC plan sponsors are required to contribute at least one per cent of all active members’ pensionable earnings each year. But in light of the coronavirus pandemic, the Minister of National […]
Acknowledging the rapidly evolving circumstances around the coronavirus, the Financial Services Regulatory Authority of Ontario is considering approaches to help defined benefit pension plan sponsors in their ongoing administration and compliance efforts. In a note published on its website, the FRSA said its reviewing its work, stakeholder engagement activities and other commitments to prioritize activities. […]
While it isn’t Canadian, the U.S. Securities and Exchange Commission certainly has plenty of power to affect assets held by Canadian pension plans. A number of proposed rule changes recently brought forward by the SEC are raising Canadian institutional investors’ eyebrows. The Pension Investment Association of Canada submitted two letters to the SEC addressing potential changes related to […]
CARP is highlighting the need for further protections for defined benefit pensions in its 2020 Ontario budget priorities. The submission noted CARP, formerly the Canadian Association of Retired Persons, supports the steps taken by the Financial Services Regulatory Authority of Ontario and the provincial government to bolster innovation in DB plan design, as well as reducing red […]
The Financial Services Regulatory Authority of Ontario is seeking feedback on its approach to monitoring single-employer defined benefit pension plans with benefits that could be at risk. The regulator said it will evaluate risks to pension benefits by their nature, size, complexity and potential impact on all plan stakeholders. It will focus its regulatory resources […]
The Canadian Securities Administrators is releasing guidance for public companies on reporting the material risks that climate change poses to their businesses. The guidance aims to help public companies meet regulatory requirements and “inform investors about the sustainability of their business model and to provide insights into how they are mitigating and adapting to these risks,” the […]
Brand-name drug companies could put off introducing new medicine in Canada and scale back research here if the country makes a major shift to cheaper generic alternatives under a national pharmacare plan, according to an internal federal analysis. The concerns were included last year in a briefing document for federal Finance Minister Bill Morneau that […]