solvency reserve accounts – Benefits Canada.com https://www.benefitscanada.com Canada's most influential pension and benefits publication for decision-makers Tue, 19 Nov 2024 20:00:16 +0000 en-US hourly 1 https://wordpress.org/?v=4.9.8 Feds seeking feedback on solvency reserve accounts for federally regulated DB pension plans https://www.benefitscanada.com/pensions/defined-benefit-pensions/govt-seeking-feedback-on-solvency-reserve-accounts-for-federally-regulated-db-pension-plans/ Thu, 26 Sep 2024 15:00:19 +0000 https://www.benefitscanada.com/?p=160504 The federal government is currently seeking recommendations about its plan to introduce solvency reserve accounts for federally regulated defined benefit pension plans. Under the government’s proposed model, first announced in 2022, these accounts would be optional and constitute a separate account within a DB plan. In a press release, the government said solvency reserve accounts […]

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]]> Saskatchewan amending pension legislation to include more decumulation options, solvency reserve funds https://www.benefitscanada.com/pensions/governance-law/saskatchewan-amending-pension-legislation-to-include-more-decumulation-options-solvency-reserve-funds/ Mon, 28 Nov 2022 20:00:47 +0000 https://www.benefitscanada.com/?p=130428 The Saskatchewan government is introducing amendments to its pension legislation that provide additional flexibility for plan sponsors and introduce new decumulation options for members of defined contribution plans. The bill, which passed first reading in provincial parliament last week, includes provisions for DC plan sponsors to offer advanced life deferred annuities and variable payment lifetime […]

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]]> Top 5 HR, benefits and pension stories of the week https://www.benefitscanada.com/news/bencan/top-5-hr-benefits-and-pension-stories-of-the-week-20/ Fri, 12 Aug 2022 13:05:06 +0000 https://www.benefitscanada.com/?p=125554 An article on Canadian employers increasing salaries and offering remote work to attract talent was the most-read story on BenefitsCanada.com over the last week. Here are the five most popular news stories of the week: 1. Canadian employers increasing salaries, offering remote work to attract talent: survey 2. Expert panel: How national dental care could impact group benefits […]

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]]> New Brunswick amending pension legislation to allow for reserve accounts, annuity buyouts https://www.benefitscanada.com/pensions/governance-law/new-brunswick-amending-pension-legislation-to-allow-for-reserve-accounts-annuity-buyouts/ Tue, 09 Aug 2022 13:00:21 +0000 https://www.benefitscanada.com/?p=125253 New Brunswick is amending its Pension Benefits Act to allow for enhanced communications with plan members, exempt compulsory membership for religious beliefs and allow for reserve accounts and the statutory discharge of annuity buyouts. The amendments will also provide the Financial and Consumer Services Commission with the authority to address overpayment errors and grant rule-making, according to […]

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]]> Feds consulting on pension solvency relief measures, VPLAs https://www.benefitscanada.com/canadian-investment-review/cir-news/feds-releasing-consultation-on-pension-solvency-relief-measures-vplas/ https://www.benefitscanada.com/canadian-investment-review/cir-news/feds-releasing-consultation-on-pension-solvency-relief-measures-vplas/#respond Tue, 10 Nov 2020 05:24:56 +0000 https://cumulus.benefitscanada.com/uncategorized/feds-releasing-consultation-on-pension-solvency-relief-measures-vplas/ The federal government is consulting on potential solvency funding relief options for 2021 and measures to further strengthen the framework for federally regulated pension plans. About seven per cent of private pension plans in Canada are federally regulated, such as those in industries like banking, telecommunications and inter-provincial transportation, noted a press release from the […]

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