While proponents are expressing concern about the absence of any mention of target-benefit pension plans in the recent federal budget, the omission doesn’t mean Ottawa has lost interest in the issue, according to the Department of Finance. “The development of a [target-benefit plan] framework for Crown corporations and federally regulated private sector pension plans remains a priority for the […]
The Canadian Coalition for Retirement Security has launched a campaign to push for legislation to protect the earned pension benefits of public and private sector employees and retirees.
Among the numerous changes in Nova Scotia’s new Pension Benefits Act (PBA) and Regulations that took effect on June 1, 2015, is a framework for two new plan designs: jointly sponsored pension plans (JSPPs) and target benefit plans (TBPs), says an Eckler Special Notice.
While all existing target-benefit plans (TBPs) in Canada are different, there are common lessons DB plan sponsors can keep in mind if they decide to convert their own plans to TBPs. That was one of the main messages of Troy Milnthorpe, an associate partner at Aon Hewitt, speaking at Benefits Canada’s 2015 Benefits and Pension […]
There weren’t many surprises in the 2015 federal budget, which includes changes to TFSA contribution limits and the amount seniors will be required to withdraw from registered retirement income funds (RRIFs).
Ottawa needs to change federal tax rules so that they accommodate single-employer target benefit plans, according to a C.D. Howe Institute report.
Are target-benefit plans (TBPs) a cost-effective and risk-reducing alternative for pension plan sponsors versus traditional DB plan and DC plans? And, as importantly, are we seeing an uptake in these plans across the country?
In our last post, we looked at two of the myths surrounding target benefit plans (TBPs). This time, we look at myths involving unions’ opposition to TBPs and the DB "guarantee."
Before getting started on the myths, it’s important to understand what target benefit plans (TBPs) are and how they differ from (but also share) the attributes of DB and DC plans.
Despite having been available for decades, target benefit plans will continue to be resisted by federally regulated employers unless a legal flaw is fixed, according to a report.