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.
The Canadian Institute of Actuaries says the federal government's launch of consultations on a potential federal framework for target benefit plans is a potential game changer.
Ottawa plans to propose shared-risk pension plans for crown corporations and federally regulated companies, according to media reports.
The biggest challenge for DB pensions isn’t the cost, but the volatility.
For sponsors concerned about the affordability and sustainability of DB plans, a target benefit plan might just hit the spot
As the interest in target benefit plans grows, a new guide by Aon Hewitt says Canada’s pension industry needs to examine the range of choices available for plan governance.