In its fall economic statement on Wednesday, the Ontario government said it plans to consult with pension industry stakeholders on the possibility of offering variable life benefits to employees in the province. In 2021, the federal government made amendments to the federal Income Tax Act to permit Canadian jurisdictions to regulate this new pension option, […]
The Pension Investments Association of Canada is calling on the British Columbia government to refrain from setting limits on the type of entities that can offer variable life benefits. In an open letter, the association said a competitive landscape that includes a broad scope of service providers, including registered pension plans, would be beneficial for retirees, noting […]
The Pension Investment Association of Canada will concentrate its legislative advocacy efforts on funding reform in 2024, including for an overhaul of long-term, minimum funding regulations for federally regulated defined benefit pension plans, said David Lawson, the PIAC’s new chair. In an emailed statement to Benefits Canada, he said as DB plan sponsors continue to face […]
The Association of Canadian Pension Management is asking the federal government to consider changes in proposed amendments to the Pension Benefits Standards Act and Pooled Registered Pension Plans Act, including retaining the definition of defined benefit provision and expanding access to pooled registered pension plans. In an open letter, the ACPM noted the government’s proposed […]