SERPs, or supplemental employee retirement plans, are non-registered plans that are generally implemented when an employee’s pension under a registered pension plan(a tax-exempt vehicle)is limited because of the maximum that can be tax-sheltered at law. SERPs will generally provide for the same benefit formula as the underlying registered pension plan, but will be reduced by […]
On June 5th, 2007, the Ontario Court of Appeal overturned a lower court decision in respect of the payment of pension plan administration expenses from the pension fund. The Court also dealt with the funding of the defined contribution portion of the pension plan through the use of the surplus of the defined benefit portion […]
Pension governance is the system of structures and processes implemented to ensure both the compliance with laws and the effective and efficient administration and investment of the pension plan and fund. Sound pension governance is an obvious goal of any pension administrator. Of course, the governance structure that is appropriate for a given organization will […]
Plan sponsors have paid more attention to good pension governance in recent years—and with good reason. We’ve witnessed a greater focus on corporate governance, the growth of class actions as a pension litigation vehicle, and the increasing attention paid to governance issues by some regulatory and non-regulatory pension bodies.The difficulty many Canadian administrators face today […]