The reaction to the Ontario government’s decision to set up a pension commission to review the province’s pension laws for the first time in two decades is positive. “It represents a significant step forward for Ontario’s pension industry,” says Scott Perkin, president of the Association of Canadian Pension Management. “It is a clear indication that […]
Ontario has established an expert commission to seek input regarding ways to keep the province’s pension system sustainable and ensure that Ontarians can rely on their pensions. It will be the first review of pension laws in 20 years. “Ontarians are entitled to pension legislation that is fair and up to date,” says Finance Minister […]
The Canada Pension Plan(CPP)fund has topped $100 billion for the first time ever, growing $4.7 billion to $103.3 billion during the quarter ending September 30, 2006. “In surpassing $100 billion in assets, we mark a milestone in the growth and evolution of the CPP fund,” says David Denison, president and CEO of the CPP Investment […]
The federal government released final regulations to provide temporary funding relief for federally regulated defined benefit(DB)pension plans. The measures cover DB plans established for employees working in areas that fall under federal jurisdiction—about 10% of all plans in Canada. “The measures will help re-establish full funding of plans in an orderly manner, while also protecting […]
CI Financial Income Fund plans to become a corporation again. The fund company expects that will happen before the end of 2010. CI converted into a trust in June. Last week, the federal government announced plans to tax income trusts like corporations starting in 2011. To comment on this story email craig.sebastiano@rci.rogers.com.
Desjardins Group has developed a new solution for retirees and people preparing for retirement. This overall approach, known as Desjardins Vision – Retirement, covers three main aspects: retirement income management, life and health insurance coverage and the transfer of wealth and assets. “Desjardins Vision – Retirement is the perfect solution for members who are looking […]
The federal government’s decision to tax income trusts isn’t expected to have a considerable impact on most pension funds. For some plans, such as the Colleges of Applied Arts & Technology Pension Plan, the changes are immaterial. “Our Canadian equity managers had very little invested,” Julie Cays, director, investments and CIO of the plan says. […]
There was mixed reaction to the federal government’s announcement yesterday to tax income trusts. The Ontario Teachers’ Pension Plan(OTPP)said it was pleased that the decision did not discriminate against pension funds. It expects it will be challenging to find investments that will replace the income and cash flow trusts have provided, but is confident its […]
Jim Flaherty, Canada’s finance minister, has announced sweeping tax changes to curb the growth of income trusts. “It is a trend that has caused me growing concern. If corporations don’t pay their share of taxes, this tax burden will shift onto the shoulders of hardworking individuals and their families,” he said at a news conference […]