The Association of Canadian Pension Management has released a paper that provides recommendations for a framework to facilitate the conversion from traditional private sector DB plans to target benefit plans.
Target benefit plans have been making significant inroads in the public sector of late, more so than most of us realize.
There is increasing awareness of the need to move beyond the DB versus DC debate to include a middle-ground option that incorporates some of the positive attributes of both designs, according to a report.
The president of the Canadian Labour Congress has spoken out against the federal government's proposal to introduce target benefit plans.
The federal government has concluded its public consultations on establishing a federal framework for target benefit plans and will use the input to draft legislation.
In its response to the Department of Finance's consultation paper on the proposed target benefit plan framework, Morneau Shepell stressed that all groups should collaborate to ensure a smooth transition.
The Regina Police Service has developed a target benefit pension plan for more than 500 police officers and staff with assistance from Aon Hewitt.
Target benefit plans (TBPs)—pension arrangements where the risk is shared between the employer and employees—are attracting more and more attention. But despite this model’s appeal, a number of pension plan sponsors have concerns about the technical details associated with moving to a TBP structure.
Kevin Sorenson, minister of state for finance, spoke to the C.D. Howe Institute on the benefits of a proposed federal framework for target benefit plans in Toronto on Monday.
The Association of Canadian Pension Management has congratulated the federal government on its announcement that it intends to make target benefit plans available to federally regulated organizations.