solvency funding – Benefits Canada.com https://www.benefitscanada.com Canada's most influential pension and benefits publication for decision-makers Fri, 22 Nov 2024 22:16:07 +0000 en-US hourly 1 https://wordpress.org/?v=4.9.8 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-70/ Fri, 26 Jan 2024 14:00:29 +0000 https://www.benefitscanada.com/?p=151186 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 […]

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]]> Funded ratio of large U.S. DB pension plans down in August with $98BN funded status decline: report https://www.benefitscanada.com/pensions/defined-benefit-pensions/funded-ratio-of-large-u-s-db-pension-plans-down-in-august-with-98bn-funded-status-decline-report/ Thu, 21 Sep 2023 14:30:17 +0000 https://www.benefitscanada.com/?p=143783 The funded ratio of the U.S.’s 100 largest defined benefit pension plans dropped slightly in August, from 76.8 per cent as of July 31 to 75.3 per cent as of Aug. 31, the result of a $98 billion funded status decline, according to Milliman Inc.’s latest public pension funding index. The result was driven by […]

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]]> CFP urging Alberta government to reconsider transfer of pension risk to plan members https://www.benefitscanada.com/pensions/governance-law/cfp-urging-alberta-government-to-reconsider-transfer-of-pension-risk-to-plan-members/ Wed, 16 Nov 2022 14:00:56 +0000 https://www.benefitscanada.com/?p=129868 The Canadian Federation of Pensioners is taking issue with some of the Alberta government’s proposed legislative and policy updates for private sector pension laws, including a focus on transferring pension risk from plan sponsors to plan members. In its response to the provincial regulator’s consultation draft, the CFP said transferring this risk would be a significant […]

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]]> Alberta seeking feedback on private sector pension legislation https://www.benefitscanada.com/pensions/governance-law/alberta-seeking-feedback-on-private-sector-pension-legislation/ Thu, 09 Jun 2022 13:00:08 +0000 https://www.benefitscanada.com/?p=122434 The Alberta government is gathering feedback from stakeholders to help inform potential legislative and policy updates for private sector pension laws. The consultation will focus on the Employment Pension Plans Act and the Employment Pension Plans Regulation, according to a press release, which noted Alberta’s private sector pension legislation hasn’t been significantly updated since 2014. […]

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]]> Head to head: Should Canadian governments eliminate pension solvency funding rules? https://www.benefitscanada.com/archives_/benefits-canada-archive/head-to-head-should-canadian-governments-eliminate-pension-solvency-funding-rules/ Fri, 19 Nov 2021 13:59:37 +0000 https://www.benefitscanada.com/?p=111220 With defined benefit pension solvency reforms gradually coming in across the country, two experts debate whether there’s a better way to ensure DB plan sustainability and security. Todd Saulnier, vice-president, the Association of Canadian Pension Management’s board of directors The answer is mostly yes. A floor of 85 per cent of solvency liability might be […]

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]]> Solvency reserve accounts missing from Manitoba’s new pension amendments https://www.benefitscanada.com/pensions/governance-law/solvency-reserve-accounts-missing-from-manitobas-new-pension-amendments/ Wed, 29 Sep 2021 13:00:53 +0000 https://www.benefitscanada.com/?p=108355 Although Manitoba’s Pension Amendments Act takes effect on Oct. 1, pension plan sponsors are disappointed that the provisions allowing them to use reserve accounts to fund solvency deficiencies have been excluded from the proclamation. “The government has not indicated when the reserve account provisions will come into effect and sponsors are anxious because they would […]

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]]> ACPM calling on OSFI to address funding asymmetry in DB pension regulation https://www.benefitscanada.com/pensions/governance-law/acpm-calling-on-osfi-to-address-funding-asymmetry-in-db-pension-regulation/ Tue, 21 Sep 2021 13:00:39 +0000 https://www.benefitscanada.com/?p=108035 The Association of Canadian Pension Management is calling on the Office of the Superintendent of Financial Institutions to address funding asymmetry in its approach to regulating defined benefit pension plans using a portfolio replicating approach. In an open letter to the OSFI, Ric Marrero, the ACPM’s chief executive officer, raised concerns related to planned revisions […]

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]]> Canadian, U.S. DB pension plan solvency dipped in July: reports https://www.benefitscanada.com/news/cir-news-news/canadian-u-s-db-pension-plan-solvency-dipped-in-july-reports/ Tue, 10 Aug 2021 15:00:13 +0000 https://www.benefitscanada.com/?p=105343 The solvency status of Canada’s defined benefit pension plans dipped for the first time this year in July, according to a new report by Lifeworks Inc. The monthly pension indices report found the average Canadian DB pension plan saw its solvency ratio dip to 108.7, down 0.6 from the previous month. This is the first […]

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]]> Canadian DB pensions’ funding positions improve in June as bond returns level off: report https://www.benefitscanada.com/news/cir-news-news/canadian-db-pensions-funding-positions-improve-in-june-as-bond-returns-level-off-report/ Fri, 09 Jul 2021 19:00:44 +0000 https://www.benefitscanada.com/?p=103648 The funded position for an average Canadian defined benefit pension plan improved slightly on both a solvency and accounting basis in June, according to a new report by LifeWorks Inc. (formerly Morneau Shepell Ltd.) The average solvency ratio was 109.3 per cent in June, compared to 108.2 per cent in May. On an accounting basis, the average […]

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]]> Sears Canada retirees’ group says bankruptcy laws unjust for pensioners https://www.benefitscanada.com/pensions/governance-law/sears-canada-retirees-group-says-bankruptcy-laws-unjust-for-pensioners/ Thu, 10 Jun 2021 13:30:26 +0000 https://www.benefitscanada.com/?p=101844 Canada’s bankruptcy laws should be changed to avoid future financial hardship for members of other underfunded pension plans, said a court-appointed representative for Sears Canada retirees. Kenneth Eady, a former Sears Canada management employee who now represents 17,000 other pensioners, told MPs on Tuesday that he doesn’t believe it’s fair that Canada’s two bankruptcy laws give banks more protection […]

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